Thailand’s Atlantic Pharmaceuticals eyeing SL private sector

Wednesday, 18 May 2016 00:34 - - {{hitsCtrl.values.hits}}

By Madushka Balasuriya

One of the pioneers of the pharmaceutical manufacturing industry in Thailand, Atlantic Pharmaceutical Co., Ltd., has sounded out Sri Lankan pharmaceutical distributors with the aim of securing a distribution link into Sri Lanka’s private market.

Atlantic Pharmaceuticals has had a longstanding relationship with Sri Lanka spanning the better part of 20 years, however that has been solely with the government. Managing Director Atlantic Pharmaceuticals Kulavuth Vanaswas, says he hopes to extend that relationship to the private sector on his next visit to the country.

“We’ve had a trade relationship with Sri Lanka for about 20 years, but mostly with the government. When I go back to the country this year I would like to look for a potential distributor for the private market,” he revealed, adding that he has already been in talks with some smaller distributors.

Atlantic Pharmaceuticals deals mainly in the production of generic drugs such as antibiotics and psychotropics. According to Vanaswas, exports to Sri Lanka account for $ 500,000 annually of the company’s turnover, on average. However Sri Lanka’s main trade relationship when it comes to pharmaceuticals is India, thanks in part to the free trade agreement between the two countries.

Vanaswas therefore understands that attempting to compete on quantity is futile, instead his company believes in focusing on quality. In January this year Atlantic Pharmaceuticals moved into a new factory; costing $ 18 million to build, which is three times the size of their previous one and boasts state-of-the-art, industry standard machinery and practices. Vanaswas hopes this dedication to quality will help in negotiations with potential partners.

“In the next few months we would like to invite importers from Sri Lanka and even the Sri Lanka CDDA (Cosmetic Devices and Drugs Regulatory Authority) to visit our factory.”