PTT's Innobic, Aiming for ASEAN Life Science Leadership via Tapping Partnerships

PTT's Innobic, Aiming for ASEAN Life Science Leadership via

Tapping Partnerships

As global health trends ignite a new era of investment in Life Science sector, Innobic (Asia) Co., Ltd. a subsidiary of PTT Public Company Limited (PTT), hosted the “Innobic Life Science Business Excellent Move Forum.” This significant seminar not only declared the company's refreshed business standing but also unveiled PTT's long-term growth trajectory in the high-potential regional health market.

Dr. Buranin Rattanasombat, Chief New Business and Sustainability Officer, PTT Public Company Limited, highlighted the strategic rationale for entering this market. "5 years ago (2020), Innobic was established as PTT’s New S-Curve, recognizing that the Life Science business is a global megatrend and a new foundation for developing high-value industries and new S-Curve for Thailand to uplift people’s quality of life through science, technology, and innovation." Dr. Buranin stated. He also emphasized Innobic’s mission to build Thailand’s robust Life Science Ecosystem, starting from research, business development, to commercialization, into enhancing our national health and public health security, as well as preparing for aging society.

Innobic positions itself distinctively from other regional players by prioritizing innovation and collaboration with manufacturers, hospitals, and research organizations to build a competitive business advantage via competitive speed and scale. The company is actively introducing international expertise to Thailand, exemplified by its investment in Lotus Pharmaceutical Co., Ltd., a Taiwan-based company specializing in pharmaceutical research, development, manufacturing, and distribution.

"Our initial investment in Lotus Pharmaceutical has already seen the market value grow threefold, demonstrating a clear Return on Investment (ROI)," Dr. Buranin noted. Furthermore, in a strategic move to expand our reach into the US specialty pharmaceutical market, our partner Lotus Pharmaceutical Co., Ltd. acquired a stake in Alvogen US, comprising a combination of cash and loans by Lotus. As a result, Lotus will become one of global Top 20 branded generics drug company. This investment marks a crucial step, providing Innobic with access to an integrated pharmaceutical platform, supported by strong, knowledgeable partners and a robust business structure, while bringing high-quality drugs from domestic and international source to enhance treatment in Thailand.

Dr. Buranin concluded by underscoring the necessity of rapid development to become a market leader within the next 5-10 years. "By delivering modern innovation and quality, affordable medicines, sourced both domestically and internationally, we aim to ensure access for all Thais. We believe that supporting the Thai people means more than just distributing medicine or supplements; it means creating a sustainable Life Science ecosystem that elevates the quality of life for everyone."

Dr. Nat Ativitavas, Managing Director Innobic (Asia) Company Limited provided further insights into the company’s major brand adjustment. Innobic, which began operations in 2020 with a registered capital of 13,564 million Thai Baht and is 100% owned by PTT, is structured into four core business groups: Pharmaceutical, Nutrition, Investment, and Technology & Innovation.

"This strategic realignment corresponds with our 5-year strategy, which places the Pharmaceutical business as the main growth driver, particularly focusing on drugs for Non-Communicable Diseases (NCDs) related to lifestyle, such as cancer and diabetes, alongside nutritional supplements," Dr. Nat explained.

Innobic aims to significantly boost its Brand Awareness to accelerate market expansion and business growth. "The brand adjustment is more than just a change in external image; it is an upgrade of both our strategic and operational processes to align with Innobic’s vision and reflect our commitment to becoming a national leader in health innovation," Dr. Nat stated. "We will address public health needs across the full spectrum of care—from prevention to treatment and recovery— support regional growth, and seek joint ventures or development opportunities with leading partners both locally and internationally."

Transitioning from an energy business to Life Science and establishing a new regional position,

Dr. Nat emphasized Innobic's aspiration to becoming the Regional Commercial Platform for health collaboration across ASEAN. This involves end-to-end product development, commercialization, and seeking co-investment opportunities to accelerate growth.

"One of our key competitive advantages is our ability to connect international partners," Dr. Nat stressed. "We bring knowledge and technology from abroad, particularly through our investment in Lotus Pharmaceutical, back to develop both the Thai and international markets. This is what sets us apart and allows us to move faster."

The Innobic Life Science Business Excellent Move Forum marked a decisive turning point, positioning Innobic as a brand dedicated to enhancing the quality of life, encapsulated by the slogan “Access to Excellent Life.” Innobic understands health challenges, not only for patients but also for those proactively seeking wellness, both domestically and regionally. This comprehensive approach enables them to care for and maintain their health easier, faster, and better.

"For us, innovation is defined by more than mere modernity. It is about being Accessible and delivering an Excellent Life," Dr. Nat concluded. "We act as a bridge, connecting innovation with our business partners, both Thai and international efforts, aiming to ensure that everyone has equal and comprehensive access to a better life.

For more information, visit: www.innobicasia.com