Marck Biosciences Ltd, a leading manufacturer of sterile liquid parenterals and a Blow Fill Seal specialist, has announced its plans to enter the Latin American market after it got ANVISA approval for sterile injectibles exports to Brazil.
Marck will roll out its Latin American foray beginning with Brazil. Argentina, Chile, Columbia, Mexico, Peru and Venezuela are the other Latin American market Marck will target gradually with the aim to cross the target turnover of Rs.100 crore in 2008-09, a release said.
"Marck is the only Indian manufacturer to have its facilities ANVISA approved for Sterile Injectables including Lignocaine, Salts, Normal Saline and Water for Injections in Blow Fill Seal segment. We seek to capture major share by direct export initiatives & business outsourcing options," claimed Bhavesh Patel, managing director of the company.
Brazil's large market for dry powder injections and oncology injectibles provides strong opportunities to Marck, forging alliance with Brazilian Pharma majors in diluents segment. Brazil's Small Volume Parenterals market constitutes 2/3 rd of entire sterile formulations market which stands at 10 million US dollar today.
Marck has one of the largest installations of its kind in Asia with equally sizable capacity in LVP space. "With the ANVISA approval and the large SVP capacity, we are now uniquely positioned to be the outsourcing partners of choice to all the well established pharmaceuticals companies of Brazil and other Latin American countries. This would be in addition to our own product portfolio," Patel added.
After its success with ANVISA approval in Brazil, Marck is in the process of registering diluents, ophthalmics & formulations in Chile, Peru, Equidor & Venezuela. It has already identified and put in place a distribution network in these markets.