Thai Pharma to Expand Myanmar Presence

Thailand-based pharmaceutical and consumer health firm Mega Lifesciences Plc is planning to expand its Myanmar presence with a new warehouse to store pharmaceutical and consumer products, a top company official was quoted as saying in the Thai media.
The expansion will cost between $100,000 and $190,000.
The company’s chief executive Vivek Dhawan told Thai media that the firm will propose to build a 10-acre warehouse to the Myanmar government in the first quarter of next year.
The actual cost will depend on the price of land and construction is expected to start by 2015.
The move is part of a bid to double overall company sales, both domestically and internationally, to $400 million over the next 3-5 years.
Mega’s sales totalled $195 million last year, with 30 percent revenues coming from Myanmar, its largest market.
The chief executive said he is very optimistic about the Myanmar market as several multinational companies have contacted the firm about distributing their products in Myanmar.
Myanmar’s pharmaceutical business via hospital and pharmacy channels is worth $400 million but has the potential to double over the next 5-7 years.
Mega set itself up in Myanmar in 1995 with seven staff. Its distribution operations have since grown to 27,000 outlets covering 85 percent of the country with 1,400 employees.
Mega now distributes pharmaceutical and consumer products for 31 companies from Thailand and abroad including Osotspa, Johnson & Johnson and Nestle.
The company operates two businesses in Myanmar: Maxxcare, which distributes pharmaceutical and consumer goods for outer brands; and Mega We Care, its own food supplement brand.
Mega was established in Thailand 30 years ago. Today it operates in 29 markets worldwide.
The company also manufactures pharmaceutical and healthcare products in Australia.