Thai pharmaceutical industry expands in wake of Covid-19 outbreak
In the first quarter of this year, Thailand’s pharmaceutical industry has expanded by 7.5 per cent year on year to Bt5.7 billion because the Covid-19 outbreak has boosted demand for drugs and vaccines.
The sale of tablets rose by 14.6 per cent, followed by capsules at 13.5 per cent, injections at 9.8 per cent and liquid mixtures at 1.9 per cent.
The import of drugs rose by 0.7 per cent worth Bt13 billion, 8.5 per cent of which accounted for imports from China and India. The export of drugs, however, contracted 4.4 per cent because many countries delayed exports.
Officials at Krungsri Research believe the cost of drugs in Thailand may rise due to the temporary closure of factories in China and India stopping the export of 26 drugs, such as paracetamol, which has been reserved for domestic consumption.
“Thailand will also face a shortage in raw materials as leading drug manufacturing countries such as the US, Germany and Britain have postponed clinical trials of most drugs to work on developing a Covid-19 vaccine,” an official said.
