Siam Bioscience reports its record profit after vaccine deal with AstraZeneca

Image by Thai Publica.

Thai medical firm Siam Bioscience, owned by the King Maha Vajiralongkorn, reported a near 50-fold increase in annual profit in 2021, when it began producing AstraZeneca Plc’s COVID-19 vaccine.

According to Thai’s Department of Business Development Ministry of Commerce, the firm’s profit significantly rose up to 4,650% to 1.69 billion baht and revenues increased by 1,500% to a record 4.9 billion baht, aided by its contract to manufacture 200 million doses of the Anglo-Swedish firm’s COVID-19 vaccine.

The company’s business improved remarkably last year as it began manufacturing vaccines for the first time.

Siam Bioscience was first established in 2009 by the late King Bhumibol Adulyadej to produce biopharmaceuticals and improve public health.

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About Kanlayakorn Pengrattana

Kanlayakorn 'Princess' Pengrattana is a freelance writer at ScandAsia.

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