Updated on 7 September 2015
Mega lifesciences has allocated the budget of $1-2 million for doing research and development on products to boost its market share and profit margin
Singapore: Thailand's Mega Lifesciences has inked a deal with Synda Farma to set up a production plant in Indonesia. As per the deal, The Thai company will hold over 50 per cent in the venture The firm has earmarked an initial investment of $1 million by early 2017.
The contract permits Mega Lifesciences to introduce efficient drug-delivery systems through Sydna Farma at lower cost. These will be built with Indonesian expertise through technology transfers and a manufacturing arrangement
Mega's CEO, Mr Vivek Dhawan, said, "We will take around two years to study the market and do the research and development on our products and set up the plant right after that."
Mega lifesciences hopes to double its revenue and profit in the next five years, following its aggressive expansion in ASEAN and Africa regions.
"We see a great potential in Myanmar and in Africa as they still lack of good quality food and medicine. Therefore, the proportion of our revenue from these countries should increase from 10 per cent currently to 20 per cent soon," he added.