Bafna Pharmaceuticals, Chennai-based pharma company engaged in the business of manufacturing of pharmaceutical formulations of betalactum and non–betalactum products has received the Good Manufacturing Practices (GMP) approval from Ethiopia’s Drug Administration and Control Authority (DACA) for its non-betalactam facility. Following the certification, Bafna Pharma expects to tap a huge geography of Africa.
Talking on the approval, Bafna Mahaveer Chand, CMD, Bafna Pharmaceuticals Ltd says, “We are very pleased to obtain the GMP approval from Ethiopia. Considering that the country is an import driven market, the company is expecting to generate good business from the Ethiopian pharmaceutical market which is estimated to be US$ 200 million, with the imports occupying 85 per cent of the market. We have a great opportunity to tap this growing market through our products.”
The imported finished products in the Ethiopia are less expensive compared to locally produced medication as there are zero or low import duties on end-products. The registration will now be expedited after company’s registration and approval to be GMP complaint by the country’s regulatory body — DACA.