Bangalore-based Bal Pharma has unveiled its expansion plans in the Andhra Pradesh market. There will be a dedicated 50-member sales force to man the operations in that market.
The Rs 90.3 crore company operates in domestic market through its four divisions MSD (Multi Specialty Division), Glyduz (Diabetes -Specialty), Servetus (Cardiology-specialty) & Bal Vedics (Ayurvedic Division).
"We have taken this strategic step to market aggressively in south India with a prime focus on Andhra Pradesh, one of India's largest pharma markets. The company has a strong establishment in other three states of South. We are looking at an exponential growth taking the present Andhra Pradesh market sales to Rs 20 crore over the next four years, stated Deepak Sarda, vice president, marketing, Bal Pharma.
The company has embarked on an expansion keeping in view of the ambitious revenue generation plan of Rs 1,000 crore by 2012. The total Indian Pharma domestic market is estimated to be Rs 32,409 crore growing at the rate of 15 per cent. Andhra Pradesh contributes 9.5 per cent to total Indian Pharmaceutical Market. The pharmaceutical market in Andhra Pradesh is estimated to be Rs 2,900 crore growing at the rate of 14 per cent. In Andhra Pradesh, the total market size of the therapeutic segments like anti-diabetes (OHA's) is Rs 130 crore, cardiology: Rs 331 crore, proton pump inhibitor: Rs 130 crore, anti-histamines: Rs 51 crore gynaecology (nutraceuticals like calcium & iron preparations): Rs 94 crore & antibiotics like macrolide Rs 44 crore. Currently, Bal Pharma represents in these therapeutic segments in the Andhra Pradesh with its established brands like Aziwin, Diabend-M, Lipofix and new introductions, added Sarda.
Recently, Bal Pharma introduced few promising molecules like Telong (telmisartan 20, 40 & telmisartan-H) for hypertension, Rabifix (rabeprazole 20 mg & rabeprazole 20 mg with domperidone 30 mg) PPI, Glyvog (voglibose 0.2 & 0.3 mg) for diabetes & Aziwin-AX (azithromycin with ambroxol) for respiratory infections.