Bangkok--18 Jun--ABM
Bangkok – 17 June 2019: MEGA Lifesciences announced its integrated business strategy to promote wellness for people around the world, open new countries with high growth potential, expand business by building new factories driven by opportunities in both domestic and international locations, and review potential pharmaceutical acquisitions to support its future business. Through this strategy, MEGA aims to double its existing business by 2025.
Mr. Vivek Dhawan, Chief Executive Officer and Chief Coach of Mega Lifesciences Public Company Limited (MEGA), noted that MEGA has sustained its mission for more than 36 years, developing world-class medicines to promote wellness and improving quality of life as a leading brand offering nutritional and pharmaceutical products, over-the-counter (OTC) medicines in 33 countries, and distribution and logistics services for pharmaceutical and fast-moving consumer goods (FMCGs) in Myanmar, Vietnam and Cambodia. During this time, MEGA has demonstrated the ability to achieve continuous growth in its business with average annual revenue increasing by 12.1% from 2010 to 2018, the company's normalized net profit increased 19.4% in the first quarter of 2019.
"Our business performance and growth in Thailand, Myanmar, Vietnam, Cambodia and Malaysia demonstrate that we truly understand the Southeast Asian market. Our acquisition of Bio-Life Marketing Sdn.Bhd., one of the leading players of consumer health products in Malaysia, together with our acquisition of ownership rights in designated pharmaceutical products from Sandoz GmbH, in Myanmar and Ethiopia, were important in reinforcing our position and our commitment to boosting regional growth. We also strengthened our offerings, launching new products to deal with pain relief, allergies, and digestive health, in addition to our Eugica natural cough and cold range, medical nutrition supplements, our BiO-LiFE probiotics line and prescription products in select therapeutics. These product groups are expected to play a significant role in furthering the growth of our business. This year, the company plans to launch more than 10 products," said Mr. Vivek.
To continue on its long-term growth trajectory, MEGA unveiled a strategy to deliver on its commitment to providing high-quality health products by expanding into new markets. The company is focusing on developing countries in Southeast Asia, Central and Latin America, Sub Saharan Africa and CIS countries that offer strong growth potential. MEGA started operating in Nepal and plans to begin its operations in Colombia this year alongside ramping up its presence in Ethiopia and other Sub-Saharan African Countries. The company is optimistic about the growth opportunities in these markets over the next 5 to 7 years and more, and is reviewing potential acquisitions to further strengthen its regional presence. MEGA is presently evaluating a potential acquisition in Indonesia.
MEGA is making a capital investment of over 1,200 million baht with part of it already spent till March 2019 and rest to be spent over 2 to 3 years. This investment includes around 600 million baht towards building a new factory in Myanmar under the Mega – MSN Joint Venture (MSN Laboratories
being a fastest growing research driven company from India). This factory, whose construction is expected to begin in 2019 will produce new generation medicines to treat cancer, diabetes and heart disease, which should be available in the market by 2022/2023. MEGA has also opened a state of the art, largest distribution center in Myanmar to support logistics and distribution services resulting in more efficient inventory management. The distribution center is have ISO 9001:2015 and follows globally recognized WHO Good Distribution Practices. MEGA is presently constructing an office space in Myanmar at a cost of over 100 million baht which is expected to get complete by 2019.
Around 500 million baht is the planned investment towards expansion in Bangpoo, next to our existing manufacturing plant. This project, when complete, will include a research and development (R&D) center, warehouse and facility to manufacture liquids, enabling addition of new class of prescription medicines and herbal products for kids to MEGA's portfolio. Construction is ongoing with completion expected by 2020.
MEGA is also moving ahead with Mega-Malee, its joint venture with Malee Group Public Company Limited. Two products have already been launched under the DR. DRINK brand: AK-TIV and
D-GEST. Both beverages are made from 100% plant-based ingredients without chemical additives.
"We believe that the path to good health starts with ourselves. Food plays an instrumental role, and MEGA is committed to helping people on their journey to good health. Our business is not only focused on producing world-class medicines and healthy products at reasonable prices, but also promoting health on a basic level for varied customer groups. Baby Natura, our natural organic baby food brand, is one such example. We also opened the Wellness We Care Center, where people can learn about adopting healthy routines, lifestyles, and diets to avoid and reverse non-communicable diseases (NCDs) and live more fulfilling lives, which will help to reduce the financial burden on the national healthcare system. Finally, Pranaa Kitchen is now fully operational, serving delicious, wholesome, and nutritious meals made from plant-based whole foods (PBWFs). We hope to see people change their lifestyles and behaviors and live lives free of medicines for a longer period or reduce their dependence on medicines. Our commitment reinforces the strength of MEGA Lifesciences as a wellness partner that Thais can trust. Through our strategy, we have a target of doubling our existing business by 2025," concluded Mr. Vivek.
About MEGA Lifesciences Public Company Limited
MEGA is a leading international manufacturer and distributor of pharmaceutical, nutraceutical products and fast moving consumer goods, headquartered in Bangkok, Thailand. It's a leading distributor in developing countries with high growth trends such as Myanmar, Vietnam and Cambodia. In addition, it develops, manufactures, market and sell its own market leading brands of nutraceutical products, branded generic prescription pharmaceutical products, and OTC products and currently operates in 33 countries worldwide. Mega Lifesciences' business operations consist of two main segments: Mega We Care(R), which focuses on manufacturing, sales, and marketing of its own branded products, and Maxxcare(R), which focuses on distribution. Mega Lifesciences is certified to a global standard by the Therapeutic Goods Administration (TGA) in Australia and the Federal Institute for Drugs and Medical Devices (BfArM) in Germany. Mega Lifesciences is listed on the Stock Exchange of Thailand (SET) under the 'MEGA' ticker symbol.