In an effort to expand its market presence in Commonwealth of Independent States (CIS) region, the Bangalore-based Bal Pharma is aggressively working to file seven more products in countries like Uzbekistan and Moldova in 2008-09.
The company is already present in these countries with three products each in categories like antibiotic infusions, anti-fungals and anti ulcerant. Bal Pharma is also present in Russia with two products.
The company, which entered the market in 2005 end, intends to offer niche products in the region. "We do not want to provide the run-of-the-mill range but handle only specialty products," Amandeep Bagga, associate vice president, API and formulations, international marketing, Bal Pharma, told Pharmabiz.
Right now, the CIS region that covers Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Republic of Moldova, Russian Federation and Ukraine is showing a lot of interest for products from India. The cost of product registration in this region is not exorbitant and is at $1,000 per product and in Russia it is around $70,000 per product. Therefore, the Rs 90.35 crore Bal Pharma intends to make the best of the situation in the region and is also keen to enter Kyrgyzstan and Belarus in the future.
"The region is an encouraging base for exports in the future. Therefore we intend to look at forays in a phased manner," informed Bagga.
CIS is a great opportunity for Indian pharma exporters. The demand for generics will drive the business in the region. In fact, disease patterns are also similar to India as diseases like tuberculosis are emerging, besides the life style disorders like diabetes and cardiovascular disorders.
The challenges in the region for mid-sized companies to export include the need to identify local partners, exorbitant registration charges, language barriers, apart from monopoly by local agents and payment creditors.
Bal Pharma Ltd is a leading manufacturer, marketer and exporter of pharmaceutical products in India and abroad. Established in 1993, the company has an envious track record of providing its services in the health care market. The company's strength spans across a range of branded formulations, APIs, generics (including parenterals) intermediates and herbals.
Bal Pharma has three manufacturing units - one for APIs and R&D, second one for formulations and the third one for parenterals. All these plants are equipped with ultramodern state-of-the-art technology. All units conform to the good manufacturing practices (GMP) standards as laid down by WHO. Bal Pharma is one of the top companies in the country having the latest form, fill and seal (FFS) technology.