Interpharma aims to upgrade 2 plants to EU standards in bid to boost exports

The investment includes the company's efforts to upgrade and improve its two manufacturing plants so that they could be approved and certified by European Union standards, allowing it to export pharmaceutical, nutraceutical, and cosmetic products to international markets, company CEO Trinnawat Thanitnitiphan said.

Currently, Interpharma is only permitted to export certain pharmaceutical and organic pet foods and supplements to Vietnam, Cambodia, Laos, Myanmar, and Hong Kong.

Speaking at a media group interview on Tuesday, Trinnawat said that the investment plan aligns with the exponential growth in demand for pharmaceutical, nutraceutical, and cosmetic products in a market where health and wellness trends are booming.

Rather than waiting for the disease to develop and then seeking treatment, people are becoming more aware of the importance of maintaining their health. As a result, probiotics, or good bacteria, are in high demand for their ability to strengthen the human immune system and anti ageing.

"After a decade in the market, we realise that we have successfully become the most trusted brand among hospitals and pharmacists. To grow further, we need to lay a strong foundation of brand awareness among consumers while expanding channels to access our products. The work will be our priority from now on," he said.

He explained that the 1.5-billion-baht budget would be used for research and development of new products, mergers and acquisitions, marketing plans (including presenters' costs), and manufacturing plan development to obtain EU standard certification.

Meanwhile, the company intends to list Lab Pharmacy, its own drug store, on the Market for Alternative Investments index in Thailand's stock market next year in order to boost fundraising to more than double drug-store branches from 32 to 70 by 2026.

"If everything moves as per our roadmap, we can maintain our average growth at around 25% per year and begin exporting our products in 2026," he said.

Interpharma currently has six product lines: pharmaceutical, nutraceutical and cosmeceutical, pet-related products, livestock products, drug store, and Nakhon Pat in Nakhon Si Thammarat, southern province of Thailand.

Trinnawat pointed out that the first four were the company's core products, while the latter two were considered a complement to Interpharma's business ecosystem.

Claiming to be Thailand's No. 1 one probiotic product for five years in a row, he believes that this strategic investment plan will propel Interpharma to a top international pharmaceutical company and, eventually, a trusted brand among consumers, as it has among hospitals and pharmacists.

"I can now say that Interpharma is the only probiotic brand sold in hospitals. This demonstrates that we are leading probiotic products in terms of quality and innovation," he said.

According to the latest strategic investment plan, Interpharma expects to reach its sales target of 5 billion baht by 2028, with double-digit growth each year.