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Tuesday, April 12,2016
MEGA LIFESCIENCES, a Thai pharmaceutical firm, celebrated 20 years of operations and US$100 million (Bt3.5 billion) of business the company and its partners have secured since its inception in Myanmar.
"From starting on a very small scale in 1995, to now having 1,400 staff, eight offices and presence in 50 towns and cities in Myanmar, we are grateful to celebrate two decades here," Vivek Dhawan, CEO and chief coach, said yesterday.
Mega derived 32.3 per cent of its sales from Myanmar last year.
The pharma has become a successful case study for international corporations doing business in that country.
"This growing market represents our top country by revenue of all the 31 countries where Mega Lifesciences is found.
"We are proud to be able to help local people with their health and wellness and we thank Myanmar for its support," he said.
The large pharma distributes pharmaceuticals, vitamins and consumer products in the neighbouring country.
Now with more than 70 commercialised products, Mega leads the iron, calcium, vitamin E and liver supplement markets.
It is also the leading pharmaceutical and fast-moving-consumer-goods distribution company, representing more than 30 principals such as Kimberly-Clark, Pfizer, MSD, GSK Consumer Health and Sandoz under its Maxxcare arm.
Mega was the first international company to set up distribution operations in Myanmar and now represents roughly 15 per cent of the nation's total pharmaceutical market.
To commemorate the occasion, a gala took place at the Myanmar Convention Centre in Yangon with more than 1,000 employees, partners and guests attending.
Mega forecasts continued double-digit growth over the five years until 2020 and hopes to expand its distribution network in Myanmar in line with growth estimates for the country.
Vitamins and supplements are the largest therapeutic category in this country of 53 million, accounting for about a quarter of the market.
"When we started in Myanmar, we wanted to make a difference in developing markets where there was a need to create access to world-class healthcare products," Dhawan said.
"We were steadfast in our business-expansion decision to be one of the first into developing nations and grow as they expand.
"Thanks to this, Mega has experienced 10-to-15-per-cent growth annually in Myanmar."