Anticipating a 30% revenue growth, JSP Pharmaceutical Manufacturing (Thailand) Plc, a distributor of medicines and nutritional supplements, is set to capitalize on the rising demand in the medicine industry with the launch of its dedicated research and development service.
STORY OUTLINE
- JSP Pharmaceutical Manufacturing is involved in pharmaceutical research and development (R&D).
- The company operates as an original equipment manufacturer (OEM) and supplies 60% of its products to customers.
- JSP also markets the remaining portion of its products under its own brands.
- Sittichai, the company's representative, has a goal of increasing the proportion of branded products to 50% by 2024.
- According to Ken Research, JSP Pharmaceutical Manufacturing (Thailand) Plc's financial performance showed mixed results in 2020
In the year 2020, JSP Pharmaceutical Manufacturing (Thailand) Plc achieved earnings of 436 Mn baht, although it faced a loss of 17.4 Mn baht. Moving forward, in the first quarter, the company recorded a profit of 1.8 million baht, accompanied by a revenue of 112.6 Mn baht.
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- Pharmaceutical R&D manufacturers face persistent challenges in expanding their medicine exports, as they are required to consistently update and enhance their products to align with international standards.
With an investment of 25 million baht, JSP Pharmaceutical Manufacturing has established a state-of-the-art laboratory that adheres to the rigorous standards of good manufacturing practice and the pharmaceutical inspection co-operation scheme.
- The CEO, Mr. Sittichai, stated that JSP expects the laboratory to support customer R&D projects, reduce researchers' workload, and accommodate up to six projects per year.
- Sittichai Daengprasert noted that the growth of the domestic medicine industry will fuel the demand for diverse medication types, creating new revenue opportunities for the company through research and development.
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- Currently, JSP Pharmaceutical Manufacturing imports over 90% of its raw materials, while functioning as an original equipment manufacturer and supplying 60% of its products to customers. The remaining products are marketed under the company's own brands.
- JSP Pharmaceutical Manufacturing engages in pharmaceutical R&D and functions as an original equipment manufacturer, providing 60% of its products to customers, with the remaining portion marketed under its own brands. Sittichai aims to increase the share of these branded products to 50% by the year 2024.
- JSP Pharmaceutical Manufacturing (Thailand) Plc's financial performance showed mixed results in 2020, but a positive turnaround was observed in the first quarter. The investment in a state-of-the-art laboratory highlights their commitment to quality and innovation, supporting customer R&D projects and improving efficiency. With the growing domestic medicine industry, JSP aims to capitalize on diverse medication types, despite challenges in expanding exports, by focusing on international standards and product enhancements.
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