Pfizer Thailand achieves double digit growth but feels slowdown in market

Pharmaceuticals manufacturer Pfizer (Thailand) has forecast double-digit sales this year despite the economic slowdown and higher oil prices.

In an interview, Amal Naj, Pfizer's manager for Thailand and Indochina, said: 'Thailand's economy, despite a downward GDP growth revision to around 4.5% is not that bad, and we do not see any drastic impact on Thailand's health-care business.'

Naj added that he expects sales will expand at a brisk pace of 15% this year, down from 23% last year.

Pfizer plans to launch two new products this year, five next year and six more in 2007. Expected increased sales of 15-17% for generic drugs would be another contributor to the company's overall sales growth this year. This segment, now estimated to be worth about baht 58bn (€1.16bn) was expanding in line with increased public awareness as a result of the government's 30-baht health-care policy, and the growth of generic drugs.

Naj has headed the Thai operations of Pfizer Global Pharmaceuticals for five years, is credited with increasing the company's sales fivefold, and driving the company into the number one position in Thailand from number 12 in 2000. The company currently controls a 9% share of the Thai pharmaceutical market up from 5.8% in 1999.