South Korea based ST Pharm Co Ltd was recognized with the Global API Manufacturing (Oligonucleotide) Growth Excellence Leadership award at the annual Frost & Sullivan Asia-Pacific Best Practices Awards banquet held at Shangri-La Singapore recently.

Sanjeev Kumar, Industry Manager, Transformational Health, Asia-Pacific, Frost & Sullivan noted that ST Pharm Co Ltd's capacity building and client networking efforts have contributed significantly to its impressive financial performance in recent years. Backed by product diversification and an increase in production, the company has laid a strong foundation for robust growth in the coming years.

"With a keen focus on innovation in product development and sustainable growth, ST Pharm is establishing itself as a major player in the small molecule and oligonucleotide API manufacturing industry. Product pricing and consistent demand for novel drugs and drug intermediates are major industry challenges which ST Pharm is addressing through its innovative R&D approach and expertise in process development, scale-up and optimization," he added.

"We are proud to be honored with the 2018 Frost & Sullivan Global API Manufacturing (Oligonucleotide) Growth Excellence Leadership award," said Dr. Kyungjin Peter Kim, President and CEO of ST Pharm.

The recipients of the annual Frost & Sullivan Asia-Pacific Best Practice Awards were identified based on in-depth research conducted by Frost & Sullivan's analysts. The award categories offered each year are carefully reviewed and evaluated to reflect the current market landscape and include new emerging trends. The short-listed companies were evaluated on a variety of actual market performance indicators which include revenue growth; market share and growth in market share; leadership in product innovation; marketing strategy and business development strategy.