MANILA, Philippines - Malaysia’s leading veterinary pharmaceutical firm Range Pharma Sdn Bhd. plans to boost overseas shipments to the Philippines to take advantage of the thriving livestock industry.
Organized in 1984, Range Pharma specializes in the manufacture of high quality pharmaceuticals for the prevention and treatment of diseases in livestock.
In a statement, the Trade Office of the Malaysian Embassy (Matrade) in Manila said Range Pharma sees the huge opportunity of increasing its exports to the Philippines given its growing sales.
“The business is growing. The opportunity is bigger here than in Malaysia, because of the huge population. There’s a lot of opportunity for meat consumption,” Range Pharma managing director Tan Hong Leong said.
Through its agent P&J Agricultural Trading, Range Pharma sells injectibles for pigs, generating annual sales of $500,000 to $600,000.
The company’s sales have been steadily growing by 10 to 15 percent each year, driven by new product offerings.
Currently, Range Pharma has more than 10 products that are being sold in the Philippine market.
Matrade Commissioner Nyaee Ayup said the Philippine livestock industry “needs further boost to maximize its potential.”
“There’s a big potential in the poultry business. Fast-food chains selling chicken becomes a trend in the Philippines that’s why we are introducing pharmaceuticals for poultry,” Leong said.
“Farmers want economies of scale. They want to improve efficiency so we help them enhance their productivity and control animal diseases,” he added.
Apart from the Philippines, Range Pharma has a strong presence in Indonesia, Vietnam and Myanmar.
It produces a variety of feed additives, injectables, water solubles, oral pumps and disinfectants to meet various animal health needs.
India is among the top six global pharmaceutical producers in the world, accounting for about 1.4 percent of the global pharmaceutical industry in value terms and 10 percent in volume terms.
Pharmaceutical sales in India are forecast to reach $27 billion by 2016. Branded generics constitute nearly 70 to 80 per cent of the Indian pharmaceuticals market.