Thailand’s pharmaceutical market was regarded as being on par with many of its regional peers and is projected to become the eighth largest economy in the Asia Pacific region by 2016 according to the Economist Intelligence Unit (EIU). This indicates strong market potential for healthcare and pharmaceutical products with demographic change.
The EABC Working Group on Healthcare & Pharmaceutical provides a business-driven platform for interactive discussion and formulation of consolidated European business positions on key issues facing manufacturers and associated industry suppliers in Thailand’s healthcare & pharmaceutical sectors. EABC is supportive of enhancement of the existing development and regulatory framework to attract investment and mutually beneficial partnerships from the EU pharmaceutical industry into Thailand. With innovation, access to technology and transfer of knowledge, Thailand’s healthcare capability can be meaningfully strengthened to respond to health and economic development challenges.
Key issues under the Working Group discussion include:
- Thailand’s Intellectual Property Right regime: legislative amendment and enforcement concerns
- Registration of new drugs and relevant policy regulatory considerations
- Customs/taxation or counterfeit issues
- Policy initiative and investment incentives to promote innovation and long-term competitiveness of Thailand’s pharmaceutical industry
- Public-private partnership aiming to improve the medicine development process and boost innovation by supporting collaborative research projects: Europe’s Innovative Medicines Initiative (IMI) and the Seventh Framework Programme for Research and Technological Development (FP7)