Sales prospects look brighter for Siam Herbal Tech as a group of pharmaceutical entrepreneurs from South Korea, the United States, and Russia have visited its factories and expressed interest in its products, the company said.
In the medical field in Thailand, the cannabis and marijuana industry continues to experience growth, with an increasing number of hospitals and private clinics incorporating extracts for medical treatments. This points to a continuous and consistent use of extracted substances for medical purposes.
Torlarp Chaiyachow, acting chairman of DOD BioTech Co Ltd, revealed that Siam Herbal Tech is engaged in the extraction of substances from cannabis, marijuana, and Thai medicinal plants. Siam Herbal Tech is the first private company capable of manufacturing medical-grade CBD (Cannabidiol) products under PIC/S standards, he said.
They have supplied cannabis and marijuana extracts to Pacific Cannovation Co Ltd, a company that operates a comprehensive cannabis and herbal business from cultivation to end products.
Pacific Cannovation is also involved in research and development of products containing CBD in combination with hemp seed oil and protein from hemp seeds, which still contain Tetrahydrocannabinol (THC). They are actively strategising to further develop the medical cannabis business and export extracts to medical entrepreneurs, specifically in Japan, he said.
Pacific Cannovation, as a member of the DOD network, became the first Thai entity to export cannabis and marijuana extracts to Japan. The exported extract products include:
▪︎ Marijuana oil-based products, specifically sublingual tinctures, used for patients with Parkinson’s disease, insomnia, and cancer patients who have difficulty eating.
Torlarp said that, “In recent times, groups of pharmaceutical companies from Japan, South Korea, the United States, and Russia have continuously visited Siam Herbal Tech’s cannabis and marijuana extraction facility. This is because Siam Herbal Tech’s extraction facility has obtained a globally recognised standard factory licence from the FDA, enabling them to produce medical-grade CBD products.
The visiting entrepreneurs hold a positive perspective that Thailand is one of the first countries in Asia to unlock the potential of cannabis and marijuana, Torlarp said. Although other countries have followed suit, Thailand has taken the initiative in studying, researching, and experimenting, which gives it a competitive edge. Moreover, Thailand is strategically located as a hub, allowing connections to various countries in terms of cannabis and marijuana production. Combined with Siam Herbal Tech’s factory, which meets customers’ standards and is medical-grade, it facilitates easier importation of products to customer countries,” he said.
While the medical market in Thailand continues to experience an increasing demand for cannabis and marijuana extracts in medical applications, Siam Herbal Tech has been supplying materials extracted from cannabis and marijuana to both hospitals and clinic operators within the country for medical use, Torlarp said.
Currently, Siam Herbal Tech has sufficient production capacity to meet market expansion. Therefore, they are implementing strategies to enter new markets in foreign countries, he added.
source : nationthailand.com