Vet Products Group to triple annual turnover to US$300 million by 2021

ASP production facility โรงงานผลิตเวชภัณฑ์ของ ASP

Unrivaled innovation, a strong R&D focus and expanding overseas operations are the main drivers behind a disruptive shift that will make Vet Products Group a leading brand in Asia, according to Dr Tanin Cheewapalaboon, founder and managing director.

Dr Tanin Cheewapalaboon(centred), Dr Winai Chaisitsanguan (left) and Orawan Amnucksoradej

By 2021, half of its turnover will be contributed by overseas business as Vet Products Group transforms itself into a value-creation business rather than a competitor in commodity-tier products and toll manufacturing.

Dr Tanin is con dent that knowledge-based products and partnerships with customers in discovering cutting-edge solutions are the keys to sustainable business ventures, ever-increasing revenue and achieving a dominant market share.

The company is targeting a 25% compound annual growth rate (CAGR) and US$300 million turnover in 2021, up 300% from 2017, while at the same time plowing back 1% of annual turnover into R&D that is focused on animal health, management and nutrition.

Vet Products Group offers a full range of products for poultry, swine, ruminants and aquatic species. Being a player in international markets helps to diversify against market risks, he added.

The company gives due attention to human resources and a well-designed organization capable of embracing change. By combining innovation, fast growth and an ever-expanding eld of opportunity, Dr Tanin’s ultimate goal is to make Vet Products Group one of the region’s most attractive places to work for life science professionals.

Orawan Amnucksoradej, General Manager for Vet Products Research and Innovation Center (VRI), said research is driven by customer demand. Information is gathered from the eld through more than 10 business units located locally and overseas tasked with discovering and developing novel ideas.

The research team evaluates customer needs comprehensively in terms of feasibility, both technically and financially, and exploits all available resources both internally and externally. For example, it has joined forces with Thailand’s National Science and Technology Agency (NSTDA) in order to amplify research capability.

The company has signed an MOU on cooperation with the NSTDA to share researcher skills and research facilities.

If a customer’s unmet needs live up to established screening criteria, then plans for further research are fully endorsed and pursued. Despite all efforts, some projects fail, but the VRI team’s successful ideas have so far outnumbered failures, she said.

Research into natural alternatives to replace antibiotics is a priority. Also, the company is developing new management tools such as rapid test kits to determine herd health status.

In the nutritional eld, Vet Products Group is looking into innovative feed additives to improve digestibility, gut health and growth performance.

VRI offers proximate assay of raw materials and complete feed as well as prediction equations. VRI is capable of testing for mycotoxin contamination namely a a-toxin, T2-toxin, DON, fumonisin, ochratoxin and zearalenone.

“We have imported US digestive devices for testing in vitro products before being applied to animals. The lab is also capable of detecting heavy metal contaminants such as lead, arsenic, cadmium and mercury in raw materials and finished products.”

In addition, VRI lab routinely performs in vitro analysis. Its newly installed incubator shaker can emulate digestion conditions in the animal stomach both mono-gastric and ruminant. Researchers get an insight of how feed additives work before testing in the animals.

VRI lab is also capable of detecting heavy metal contaminants such as lead, arsenic, cadmium and mercury in raw materials and nished products.

Dr Tanin believes that R&D is the key to great and long-lasting products. The patent process alone can generate signi cant income through patent fees or by selling patents to buyers.

By bolstering research activity, he expects the company to own 20-25 major patents by 2021, noting that the veterinary hospital business unit already holds three patents.

While innovation will be the key driver of future business, for its China operation, management and diagnostic services to improve farm productivity will be highlighted.

Dr Winai Chaisitsanguan, Assistant Vice President of Animal Supplement & Pharmaceutical Co Ltd (ASP), said Vet Products Group’s goal is to be a leader in animal health and nutrition in Asia and Southeast Asia.

He noted that ASP is the first animal health company to gain the Thai Ministry of Commerce’s Trust Mark award which certifies its integrity and trustworthiness and a good corporate citizen that complies with internationally accepted standards for environmental management and social responsibility.

He added that the company is pursuing a new business model, dubbed “ASP 4.0”, which aims to create value through research and make ASP one of the most recognizable brands in Asia.

ASP’s feed additive and veterinary drug manufacturing facilities are GMP- PIC/S, FAMI-QS, GMP, HACCP and ISO 9001:2015 certified.

Its QC lab is equipped with HPLC, atomic absorption spectrometers and it also owns a microbiology lab.

ASP QC lab is also capable of analyzing pharmaceutical active ingredients, feed additive ingredients and antibiotic residues.

ASP’s main markets are in Southeast Asia. It has operations in Vietnam, the Philippines, Cambodia, Laos, Myanmar and China.

Also, its products have won international acclaim in the Switzerland, South Korea, China, Malaysia and more in recent years due to innovation and effectiveness. Award-winning products include Concenzyme NSP II, Conatic, Besow Plus, SynerFlex, LifePac, Bestarter Plus, Maxsure and AA Concentrate Gold.

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