Among Indian pharma companies, which entered Russian pharmaceuticals market, JB Chemicals and Charak Pharma are playing vital roles in the fray.
JB Chemicals is ranked number two among Indian companies in Russia. It enjoys a footprint in 11 out of 15 CIS countries. The company responded to the opportunity of a liberalized Russian economy by establishing its representative office in Moscow & Kiev in 1994.This facilitated administrative and regulatory procedure for a smooth entry in the Russian market.
The company had launched Rinza hot strip, an anti-cold therapy in Russia, Ukraine, Uzbekistan, Azerbaijan and Georgia. JB's one of the leading brand in Russia, Doktor Mom had won the Reader's Digest Europe's Most Trusted Brand' award for the fifth consecutive year. Doktor Mom is the leading cough and cold brand in Russia with sales of over Rs 80 crore. JBCPL's focus will be to out-license Doktor Mom range, which includes Cough Syrup, Lozenges and Rub, to strong marketing partners for various regulated markets other than Russia, Ukraine and CIS countries.
Its Metrogyl Denta Gel was recognized and approved by Russian Dental Association as "Gel for gums - Metrogyl Denta." The company plans to increase its representative strength in Russia from 130 to 180.
The company expects sales to touch Rs 450 crore in the current financial year, of which about 60 per cent will be from exports. By 2008-'09, it targets Rs 1,000 crore under its vision of 'Panchratna,' which represents its five strengths - research, regulatory affairs, finance, marketing and manufacturing. The company's net profit was Rs 59 crore in the year ended March 2005.
Charak Pharma, other Indian Pharma company forayed into Russian market recently, tied up with a leading Russian allopathic company Avin Pharma to co-market its liver disorder drug Livomin. Other anti-diabetic drug, Hyponidd, is currently under registration in the Russian market.
At the initial stage, Charak has given the marketing rights of Kofol cough syrup, Hyponidd-the anti-diabetic tablets which reactivates pancreatic beta cells and help to deal with type 2 diabetes and Livomin tablets.
The company is targeting a business of Rs 50 lakhs in Russia annually through this marketing arrangement. Presently, the deal is signed for one year.
Exports are projected to touch Rs 20 crore on revenues of Rs 140 crore by March 2006. The company closed the year ended March 2005 at Rs 110 crore, with exports of Rs 11 crore.