India's homeopathy major Bahola Healthcare plans to invest Rs 10 crore to strengthen its presence in the international market. The market expansions are slated for the South East Asian region and European Union. Bahola drugs are purchased by doctors in Switzerland and Germany and the company is now working closely with them to make an entry in the European region.

In the last two years, it became the only homeopathy company in the world to enter Singapore and Malaysia after it received clearances and product registration rights from the Singapore Health Board and Malaysia regulatory authorities. It is also expecting the US FDA clearance for its range of drugs in June this year to strengthen its forays to US, Australia, Canada and South America.

The company is also working out the logistics of its global distribution which will either be through a network of dealers or a single supplier.

For the global market entry, a mandatory requirement in many of the regulated markets is Good Manufacturing Practices (GMP) compliance.

Pharmabiz had reported that Union government mandated GMP adherence for all homeopathy units by 2008 end. Bahola is ahead of the target with its investment of Rs 1.5 crore made in mid-2006 for a second unit at Pudicherry for production of formulations (liquid orals, tablets, ointments and ophthalmic) and generics which will cater largely to international market requirements. The unit will be commissioned later this year.

The over six-and-half-decade-old homeopathy company has been waiting in the wings to enter the global market to make a big splash with its range of drugs in the formulations and generics (30 per cent mother tinctures, 40 percent dilutions and 30 per cent biochemics). Leading Bahola formulations for global markets are for asthma, cough, diabetes and tonsillitis.

"The acceptance of Homoeopathic drugs in the global market is good, but unfortunately we are not able to target the export markets for want of GMP certification. The compulsory compliance in 2008 will open opportunities for Indian homoeopathic manufacturers to take on the multinationals on their own turf," Kartik Raghava Murty, managing director, Bahola Healthcare (P) Ltd. told Pharmabiz.

In the domestic arena, Bahola has a presence in the four southern states and will reinforce its strengths in West Bengal, North East states, Bihar and Punjab.