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Sirio Pharma, a player in the nutraceutical contract development and manufacturing sector, has announced plans to establish a new production site in Chonburi, Thailand.
This investment marks the company’s first manufacturing facility in Asia outside of China, aimed at enhancing its capabilities in the rapidly growing Asia-Pacific (APAC) market.
The decision follows a robust financial performance in 2023, with Sirio reporting a 42.87% year-on-year revenue increase to $508 million (€469 million). The new facility will become the company's eighth global site, complementing existing operations in the European Union, the United States and China.
Sirio’s board has approved a potential investment of up to $40 million for this project, which will feature advanced gummy production capabilities along with automated packaging lines for various nutraceutical forms.
This investment underscores Sirio's commitment to meeting the increasing demand for nutraceutical products in Southeast Asia, a region identified as one of the fastest-growing markets in recent years.
Alex Du, general manager of Sirio's Asia Pacific Business Unit, said: “The establishment of a multipurpose nutraceutical plant in Thailand will enable us to better serve our customers in Southeast Asia”. He noted that the new site will provide greater flexibility and options for local manufacturing, aligning with Sirio's global strategy to support international clients through localised production.
In addition to the new manufacturing facility, Sirio plans to open an office in Singapore's central business district later this month. This move is part of a broader initiative to strengthen partnerships with regional customers and trade associations.
The Chonburi project is currently awaiting review and approval from relevant regulatory authorities in both Thailand and China, with construction details expected to be announced later in 2025.
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