Biocon is on an aggressive drive in Bangladesh primarily because of its increasing dependence on the lifestyle disorder drugs like cardiovasculars and anti-diabetics.
The country, which is viewed as an attractive destination for active pharmaceutical ingredients (APIs), has been looking at leading Indian companies for its supplies. With a strict regulatory enforcement for drug approvals in Bangladesh, companies like Biocon have managed to stay ahead in the region.
According to Rakesh Bamzai, president, marketing, pharmaceuticals, Biocon Limited, Bangladesh shows an increasing demand for drugs in cardiovascular, diabetes, renal failures resulting out of these life style disorders. This has led the company to generate substantial sales from its range of APIs.
The company's range of APIs are accepted by leading generics and branded companies across the world and have also found favourable acceptance in Bangladesh mainly because the products are manufactured under stringent standards. Therefore, Biocon's statin portfolio, oral anti-diabetics and immunosuppressants are on the list of exports to Bangladesh.
In Bangladesh, with an increased prevalence of cardiovascular disorders and cancer which are fast catching up with the population, many patients flock to India for treatment and hence Biocon in its future strategy would also gear up to offer its range of recombinant biologicals like insulin and monoclonal antibodies. The latest drugs from the company's stables being Insugen, a r-DNA insulin and BioMAb EGFR for head and neck cancer will see it being on the export list.
Biocon ,which has a reasonable presence with an advantage of being one of the few companies with a product offering as variant as cardiovascular, diabetes, and oncology, has been a key exporter to the region. "It is the drugs leading to lifestyle disorders which are prime revenue streams from the region. Not only that with huge medical unmet needs, the Bangladesh is looking at its neighbour India to build partnerships in healthcare systems and have faster access to quality pharmaceuticals from here," stated Bamzai.
For the Rs. 793 crore Biocon, 50 per cent of its earnings are from exports. However, specific earnings from Bangladesh market were not disclosed.