Execs call for track-and-trace schemes in Southeast Asia – report

Thailand and Indonesia have the largest near-term generics export potential as regional executives come out in favour of an ASEAN-wide track and trace scheme.

So says CPhI’s ‘ASEAN Pharma 2020 Report’ which have been released ahead of next month’s CPhI Southeast Asia event and summarise the opportunities and threats across major pharma markets in the region.

Macroeconomic and demographic similarities were seen across several major economies – Thailand, Indonesia, and Vietnam – with domestically driven markets that are now potentially ripe for higher growth in exports (especially those of finished dose generics).

The changing opportunities are attributed to rising GMP standards and increased regional harmonization.

However, the report also points to a potential survival of the fittest amongst the local manufactures, with several acquisitions likely, as companies employ economies of scale to expand.

This latter finding is particularly significant for CPhI South East attendees, highlighting the importance of meeting and working with the right partners in the region.

“The opportunities in Southeast Asia are now accelerating quickly, and with so much change it is essential companies act now to build the right network, with the right partners and have access to the latest information,” said  Silvia Forroova, Brand Director at Informa Markets.

In fact, nearly all regional respondents stated they were looking to work with international partners in the year ahead. Of these, the most popular reasons for partnering were to help ‘increase the company’s knowledge base’ (67%), and ‘to help launch products from outside the region’ (65%).

Similarly, of the international executives from outside the region surveyed, 88% of respondents had a willingness to work or invest within the region in the next three years. Growth strategies identified for the next 1-3 years include a surprising 29% who are looking to ‘invest in a new facility’, 41% ‘partner with a local manufacturer’, ‘use a distributor’ (23%) and ‘import directly’ (7%).

Perhaps, the single most surprising finding – and unanimous amongst executives – was the call for the introduction of a track-and-trace style scheme to combat drug counterfeiting, with a remarkable 93% of respondents in favour.

Indonesia has been amongst to the first to move with its serialisation scheme expected to be rolled out between 2020 and 2025, and Singapore is exploring GS1 2D barcodes, but the report suggests other markets and developments should follow quickly in the near future.

“What we are also seeing is that new segments are quickly identifying Southeast Asia as a growth opportunity,” said Forroova.

“For example, in response to industry changes, we introduced a natural extracts and herbal-based medicines (NEX) zone at the event this year.

“But more widely contract services demand is growing extremely quickly, as is the demand for greater content on ‘how to launch new products in the region’ and we have designed much of the event’s agenda to aid the regional-international partnerships that are proliferating.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site but journalism costs money and we rely on advertising and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites with a small donation of even £1, your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

In the meantime may I wish you the very best.

- Advertisement -

FairJourney Biologics enters antibody discovery agreement with Pandion Therapeutics

FairJourney Biologics S.A (FJB) and IONTAS Limited (IONTAS), leaders in the discovery and optimization of VHH and fully human antibodies, have signed an agreement...

Beckman Coulter launch SARS-CoV-2 IgM antibody test in countries accepting CE Mark

Beckman Coulter, a clinical diagnostics leader, has announced the launch of its Access SARS-CoV-2 Immunoglobulin M (IgM) assay in countries accepting the CE Mark. The...

95% efficiency for Pfizer & BioNTech’s mRNA-based COVID vaccine candidate

Pfizer and BioNTech’s mRNA-based COVID-19 vaccine candidate – BNT162b2 – has achieved an efficiency rate of 95% after hitting all primary endpoints in a...

BMS completes $13bn MyoKardia acquisition

Bristol Myers Squibb (BMS) has completed its $13.1 billion acquisition of MyoKardia. “We are excited to welcome MyoKardia colleagues to Bristol Myers Squibb,” said BMS...

Samsung Biologics breaks ground on ‘world’s largest’ biopharma manufacturing facility

Samsung Biologics has officially begun construction of its Plant 4 in Incheon, South Korea. Dubbed the “Super Plant”, the new, multi-story 238,000-square-meter construction will be...

Related news

Regeneron’s antibody cocktail granted Emergency Use Authorisation

The FDA has granted Emergency Use Authorisation (EUA) to Regeneron’s antibody cocktail for COVID-19. The cocktail combines casirivimab and imdevimab administered together is the first...

FairJourney Biologics enters antibody discovery agreement with Pandion Therapeutics

FairJourney Biologics S.A (FJB) and IONTAS Limited (IONTAS), leaders in the discovery and optimization of VHH and fully human antibodies, have signed an agreement...

Beckman Coulter launch SARS-CoV-2 IgM antibody test in countries accepting CE Mark

Beckman Coulter, a clinical diagnostics leader, has announced the launch of its Access SARS-CoV-2 Immunoglobulin M (IgM) assay in countries accepting the CE Mark. The...

95% efficiency for Pfizer & BioNTech’s mRNA-based COVID vaccine candidate

Pfizer and BioNTech’s mRNA-based COVID-19 vaccine candidate – BNT162b2 – has achieved an efficiency rate of 95% after hitting all primary endpoints in a...