Sirio Pharma has detailed its plans to construct a novel nutraceutical gummy production site in Chonburi, Thailand.
This is Sirio's first manufacturing plant in Asia outside of China, and will assist the company in expanding its presence across the key APAC market.
The announcement follows record revenues recorded in FY2023–24, with the CDMO recording a 42.87% YoY revenue rise to USD $508m.
Sirio's Chonburi site will be the company's eighth worldwide, with its other sites situated in nutraceutical hotspots such as the EU, US and China.
According to Sirio, this investment will both allow it to support customers within the fast-growing APAC region, while also bolstering its global presence.
A $40m investment
After discussions, Sirio's board of directors has approved an investment of $40m into the new site in Chonburi.
The site will be primarily responsible for the production of nutraceutical gummies, featuring automated packaging lines suitable for this type of supplement.
As well as expanding its global manufacturing capabilities, Sirio also plans to open a new office in Singapore — helping the CDMO to foster close regional relationships within the APAC region.
Alex Du, General Manager, Asia Pacific BU at Sirio Pharma, commented: “We have invested in a new multipurpose nutraceutical plant in Thailand to meet the needs of our customers in Southeast Asia. In recent years, this has been one of the fastest-growing regions, and we can better serve our customers here with local resources."
"Our global strategy is to support international customers with local production resources in key markets," he continued. "With our eighth site, this provides even greater flexibility in resources and options for local manufacturing across different regions.”
The Chonburi project is pending review and approval from relevant Chinese and Thai regulators, with construction start date and more details to follow in 2025.