Product Research and Development and Innovation Creation
Supporting the SDGs Goals
Stakeholders Directly Impacted
Goals and Performance Highlights
Commitment, Challenge and Opportunity
Research and development is a crucial process that helps increase opportunities for obtaining a diverse range of medicines and health products, which can better meet consumer demands. Expanding the product range not only helps to broaden the consumer base but also designing research and development processes that minimize potential environmental impact is a key factor influencing consumer decision-making today. Additionally, integrating various technologies or innovations into research and development will enhance market competitiveness, create uniqueness, and provide more options for consumers. Apart from developing innovations for product research and development, creating innovations in work processes is a crucial element that improves work efficiency, enhances employee potential, and fosters continuous development.
Management and Operational Approach
The group places importance on incorporating innovation into research and development as well as work processes by establishing a vision, mission, and corporate values to promote the creation of innovations in both work processes and product development. In 2025, the company will define clearer policies and guidelines regarding the development of corporate innovation.
The group has established the BLC Research Center to conduct research and development of products for both the group and external clients, as well as fostering collaboration with external research organizations, both public and private, to develop innovations in research that result in high-quality work benefiting society, the environment, and trade partners. Additionally, the group has developed a product strategy in its business plan to define the direction for future business operations.
For the development of innovation in work processes, BLC has established a QCC (Quality Control Cycle) system development committee to stimulate and encourage employees to generate creative ideas, as well as developing skills in analysis and problem-solving within work processes.
| Key Performance Indicators (KPIs) | 2024 Performance Results |
|---|---|
| At least 1 new product in the new generic drug category can be marketed per year. | |
| At least one herbal product formulation per year has been approved by the company’s internal committee. | |
| Targets are set for research and development of products to reduce the use of environmentally unfriendly organic solvents. | |
| The company can convert no less than 20% of secondary packaging to environmentally friendly types. | |
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