The Ahmedabad-based Intas Biopharmaceuticals Limited (IBPL), a noted biopharmaceutical player with a special focus on Oncology (Cancer), has firmed up plans to foray into Gulf countries by supplying and marketing indigenously developed biotech products in the region. Initially, the company is looking to supply and market three products - Neukine, Erykine and Intalfa - in the region.
The Gulf Cooperation Council (GCC) region, which has a combined economy of $715 billion and comprises of six countries - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates - is expected to offer unique business opportunities and benefits to IBPL. Though limited to three products now, at a later stage, Intas is expected to expand its operations in GCC.
Speaking to Pharmabiz, Simon Daniel, chief executive (marketing), IBPL, said, "The GCC region, which has significant requirement of products and services in biotech segment is an important destination, keeping in view the market attractiveness for branded biologics, next only to US and European markets. Being the only Indian biopharmaceutical manufacturing company with an EMEA certification and making inroads in the European market, IBPL's entry into GCC region is an important and critical step towards its expansion plans to reach new geographical regions across the globe".
It may be noted that with surge in demand of oncology products, GCC region holds tremendous potential for Indian companies. "The technology strength of the IBPL and the market intelligence and distribution network of our local partner can be unified for providing the much-needed boost to establish business rapidly," he added.
As part of mandatory requirement to register itself as a company in GCC, IBPL has submitted necessary documents to the Ministry of Commerce, GCC, based on which the company received "Certificate of Company Registration" to further carry out the business activity. As part of mandatory process followed now, IBPL has initiated procedure of submitting the required technical documents for product registration in the GCC region.
Referring to the company's international business development activity, Daniel, said, "After EMEA certification, the entry into GCC region has become relatively easy for IBPL as the quality conscious pharma/biotech companies in the region are assured of superior quality products and services. Amongst regulated and semi-regulated markets, IBPL offers an edge over its competitors in terms of unique pricing, products, services and its marketing strategy. With unique capabilities of R&D, manufacturing and marketing, IBPL has significant presence in Europe, Asia-Pacific, Middle East, Russia and CIS, South and Central America and Africa."