Bal Pharma, the medium-sized formulation and bulk drug drug company in Karnataka plans to increase its volumes of exports to Pakistan for its range of active pharmaceutical ingredients (APIs).
At present, the company is getting regular orders from the top ten multi national companies in the region. The company is envisaging to make an aggressive direct entry into the region to have a first hand information on the exports enquires which could augment its current low volumes.
Bal Pharma has been operating in the region since 1998 through agents and hence details of the country's export requirements are still unclear. Not only that the agents are keen on having exclusivity rights to market the company's range of products which Bal Pharma has not yet decided going by the meagre sales volumes.
However, the company would definitely have a strategy in place for Pakistan exports going by the sales potential in the region, stated Smitha Vinod Marketing- APIs, Bal Pharma.
Among Bal Pharma's API exports, gliclazide an anti-diabetic and Ebastine an anti histamine are in great demand with ample and regular repeat orders. Another product which is now growing in sales is topiramate for epilepsy. Amiloride which is a diuretic and benzydamine, an anti pyretic are also popular.
Although, the company is a major source for leading multinational companies in Pakistan which have set base there, it needs to have a direct presence to increase its sales and product range.
The region does not demand product registrations which makes it easy for players like Bal Pharma to export. But a major problem in the region is the price bargains with Indian companies. Though Pakistan is not known to be a price sensitive region and the country is much dependant on India for API exports which is used for its range of formulation for global customers, the negotiations on cost is unbelievable.
Bal Pharma currently exports to around 20 countries and its earnings from both formulations and APIs is pegged at Rs. 18 crore ending March 2005.