Thai pharmaceutical maker Siam Bioscience Group plans to produce and sell three new drugs for complicated diseases -- cancer, kidney failure and autoimmune diseases -- by 2022 both domestically and abroad.
The drugs carry a cheaper price tag than imported pharmaceuticals.
Managing director Songpon Deechongkit said the company has developed drugs for diseases such as erythropoietin for chronic renal failure patients and filgrastim for cancer patients receiving chemotherapy.
"The development will help Thais access higher quality and innovative drugs, improving the country's medical treatment," he said.
"Locally made drugs will help the government to cut import costs because of price competition. Such drugs can lower retail prices by another 30-40%," said Mr Songpon.
Established in 2009, Siam Bioscience has a mission to support and elevate the country's medical system and improve the quality of life of Thais.
The Crown Property Bureau is the sole owner of the company.
Siam Bioscience has four subsidiaries -- Siam Bioscience, Apexcela, Abinis and Innobiocosmed.
Mr Songpon said the company has spent more than four years developing complicated drugs for commercial sale in 2022.
In addition, it has three manufacturing facilities in Bang Yai, Nonthaburi.
The three plants consist of a bacteria fermentation facility with an annual capacity of 5 kilogrammes; a fill finished operation zone with annual capacity of 24 million pieces; and a cell culture production with annual capacity of 50kg.
It researches, develops and manufactures biopharmaceuticals from upstream, midstream and downstream to reduce dependency on imported active ingredients and drugs.
Siam Bioscience has set aside a 2020 budget of 400 million baht for retail marketing and an R&D unit for future drugs.
Chairman Apiporn Pasawat said the company aims to increase export markets in the near future.
The overseas market represents only 5% of revenue.
"The company is requesting licences from many countries to import medicines legally, such as from Europe," said Mr Apiporn.
"Cambodia, Myanmar, Laos and Sri Lanka import Siam Bioscience's drugs."
In 2017, Siam Bioscience formed a joint venture with CIMAB SA, a Cuban pharmaceutical maker, to produce world-class medicines for complicated diseases.