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Posted: Jul 04, 2011
Thai NANOTEC and GPO team up on drug discovery using nanotechnology
(Nanowerk News) The National Nanotechnology Center (NANOTEC) and Government Pharmaceutical Organization (GPO) signed a strategic research collaboration agreement to focus on drug discovery using nanotechnology.
"The Thai pharmaceutical market is growing and we need to establish strategic partnership with recognized institutions such as NANOTEC" said Mr. Soontorn Vorakul, Acting Managing Director for the GPO. "The partnership will help upgrade research capabilities of our two agencies and help promote national competitiveness. The focus of our research collaboration will be in the area of cosmeceutical and drug delivery using nanotechnology".
"The opportunities for nanotechnology in pharmaceutical manufacturing and development are enormous" said Prof. Sirirurg Songsivilai, Executive Director of NANOTEC. "It is clear that the international pharmaceutical industry has embraced nanotechnology research in their manufacturing. It is essential for the GPO and NANOTEC to join force and share our expertise if we are to keep pace with drug discovery".
The Economist Intelligence Unit (EIU) projects that Thailand will be the eighth largest economy in the Asia Pacific region by 2016. Real GDP growth is projected to increase in the forecast period, reaching 7.1% by 2016. The EIU also projects an annual growth rate of around 0.7% and the population to be the ninth largest in the Asia Pacific region by 2016. The elderly population is rising; Thailand is expected to have the eighth highest proportion in the Asia Pacific region.
It is estimated that by 2016 Thailand will have the seventh largest pharmaceutical market in the Asia Pacific region. In per capita terms, Thailand is projected to have the eighth highest rate in the Asia Pacific region by 2016. These estimates have certainly attracted the attention of multi national pharmaceutical companies.