Pfizer has chosen Thailand as its regional operations hub for animal-health products in Southeast Asia, capitalising on the regions fast-growing economies.
Juan Ramos Alaix, president, Pfizer animal health products, said the choice was based on “economic growth, growing animal-health business, best practices and talented people.”
“It is these factors that will help drive our business here, as the Thai operation will become the springboard for Pfizer into this attractive market for it’s animal-health business which includes not only food animals, focusing on cows, pigs, poultry and fish, but also companion animals.”
Pfizer reported total sales of US$1.7 billion (Bt50.1 billion) in the first half of this year. Its products are manufactured in 16 plants throughout the US, European Union, Asia, Australia and New Zealand and distributed in 60 countries worldwide. Its business in Thailand has enjoyed double-digit growth this year, Alaix says.
“As countries are imposing stringent restrictions regarding food safety, Pfizer has to focus on quality and work closely with its partners to ensure that its products serve market needs, provide more services and ensure our consumers on food safety,” he says, spending $300 million annually on research and development, which ranks as its biggest expense for innovative products.
There are also additional budgets to encourage each market to develop innovative products to serve domestic demand. Big spending on research and development has allowed the company to produce a variety of animal-health products for many species of animals and their diseases.
In Southeast Asia, Pfizer is interested in investing in two great opportunity areas; poultry and aquaculture.