Boston, MA -- (SBWIRE) -- 06/03/2014 -- We believe that the current political impasse will not have a significant impact on healthcare provision in Thailand, and therefore our health expenditure projections will remain unchanged unless tensions escalate and cause a breakdown in medical services. We maintain that the sustainability of universal healthcare is an area of concern due to rising costs from the ageing population, coupled with the slowing economy.

Headline Expenditure Projections

- Pharmaceuticals: THB142.5bn (US$4.64bn) in 2013 to THB150.2bn (US$4.62bn) in 2014; +5.4% in local currency terms and -0.4% in US dollar terms. Forecast in line with Q214, although currency fluctuations affected the growth rate in US dollar terms.
- Healthcare: THB498.9bn (US$16.2bn) in 2013 to THB534.1bn (US$16.4bn) in 2014; +7.0% in local currency terms and +1.2% in US dollar terms. Forecast in line with Q214, although currency fluctuations affected the growth rate in US dollar terms.

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Risk/Reward Rating: In Q3 2014, Thailand is ranked 11th out of the 19 key markets in Asia Pacific. While Thailand's score for its Industry Rewards variable is above the regional average (24.0 versus 21.8), indicating the country's favourable longer-term standing in terms of its pharmaceutical market development, operating risks - including the lacking intellectual property (IP) environment - remain elevated.

Key Trends and Developments

- In April 2014, US-based pharmaceutical company Actavis acquired Thailand-based generic pharmaceutical company Silom Medical Company for about US$100mn in cash. Following the acquisition, Actavis' position will elevate into top-five companies in the Thai generic pharmaceutical market, with leading positions in the ophthalmic and respiratory therapeutic categories.
- In March 2014, Thailand's King Mongkut's University of Technology Thonburi (KMUTT) and the National Science and Technology Development Agency (NSTDA) partnered to build a national biotechnology drug pilot plant, a move that aims to improve the domestic manufacturing of drugs and vaccines. The move is expected to cut imports and reduce reliance on imported biotechnology drugs. The pilot project aims to expand the size of the production process at both the prototype and industrial levels for commercial purposes, which will allow the Thai population to access cheap qualitative biotechnology drugs. The facility is also expected to be used as a training centre for development work in the production process, especially quality control.

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