Bal Vedics, the herbal arm of Bal Pharma is now ready to enter the international market. The company received the acceptance of its product registrations from South Africa and is also in the final lap of getting the consent from authorities in UAE. It is also awaiting the consideration of its product registration from the authorities in Sudan. Efforts are also on to tap Korea and Germany who are keen on the Indian herbal drugs and supplements.
"We have a strategy in place for the global market foray and are quite aggressive in our efforts to enter the international arena. The entire range of 15 products from Bal Vedics stables manufactured under contract by Nupal Remedies in Kerala will be for the exports. In UAE particularly we are working for registration of Ashwamed, a male libido agent, to begin with," Archana Mitra, general manager, generics & hospitals sales and Bal Vedics told Pharmabiz.
The herbal division of Bal Pharma, a medium-sized company in Karnataka which was formed in 2004 and was focusing only on domestic market sales. Going by its success in the country, it decided to look offshore to increase its revenues.
All the 15 products of the division have helped to contribute 5 per cent (Rs. 3.9 crore) of earnings to the total turnover of Bal Pharma's Rs 78 crore in March 2007.
The division is known for products in the gynaecology and paediatric segments. There has been a demand for syrups over tablets and capsules. Bal Vedics has now introduced the same for Menoleap which is for pre and post menopause conditions and also prescribed for dysmenorrheal and menorrhagia symptoms.
The market size for both women and child health products is growing rapidly and companies are gearing up to en-cash the growth potential. "We expect to be a leading player in the segment", she said.
Other products which are also doing well are Anarsha for piles and Ayurfine Forte for arthritis. The acceptance of 'Immuwin' a drug for AIDS has been appreciated by physicians to have improved the immunity levels and better management of the symptoms. Immuwin is now undergoing clinical trial at KMC, Manipal for its entry into South Africa.
Going by the performance so far, the Bal Vedics is looking at a turnover of Rs 25 crore by 2011. Drugs for women and child health, arthritis, and AIDS could be the growth drivers. The company has a personnel strength of 100 and there will be no hiring for a while.