Bal Pharma, India's sole manufacturer of Gliclazide, an anti-diabetic bulk drug is hosting a two-day meetbetween September 15-17,2000, for doctors from Kerala at Udhagamandalam [Ooty]. Organised by Bal Pharma for the first time, the focus of the event is to discuss the current developments and emerging trends in diabetology. Physicians from Kerala have been selected as Bal Pharma has recorded significant sales from this sector for their range diabetic drugs. Around 65 leading doctors have confirmed their participation. According to Shailesh Siroya, managing director, Bal Pharma, the event will be more of a CME [continuing medical education] for doctors.
The 8year-old Bal Pharma with a turnover of Rs. 40crore is a key player in the non insulin category, The product range in this segment is Diabend [Gliclazide 80 mg], semi Diabend [Gliclazide 40mg], Diabend- M [Gliclazide 80 mg and Metformin 500mg], Diamet [Metformin 500mg], Diacon [Glipizide 5 mg] and Diacon [Glipizide 5 mg and Metformin 500mg]. The company has notched up Rs. 1.5 crore sales revenue till March 2000 and the target for March 2001 is Rs. 5 crore.
The formulation, which has a combination of Gliclazide and Metform called 'Diabend- M' had registered a growth rate between 100- 150 percent in the last two years, informed Siroya. For Gliclazide, the company is awaiting a certificate of suitability from Europe, which will permit it to market in the Europe and United Kingdom. Before the end of this year, Siroya is confident of entering the fray where the export sales will be nothing less that US$ 2 million.
Bal Pharma has set up a new division Servetus which will handle the oral hypoglycaemia agents, OHAs, where the total market value is Rs. 200 crore. In addition to Gliclazide and Glipizide, the leading products of Bal Pharma, other diabetic drugs will come under the umbrella of this division, said V R Kannan, vice president, marketing, Bal Pharma who is also heading Servetus. The current share of Bal Pharma for OHAs is Rs. 5.5 crore and with Servetus, the company will soon increase its chunk to Rs. 10 crore, adds Kannan.
Among the plans for the future with diabetology formulations, Siroya informed that are looking at a full-fledged R&D for contract research in diabetology. The company plans to tap the growing Rs.200 crore insulin and non-insulin market, which is one of the fastest growing the pharma sector considering the criticality of the disease. In addition, the company has set a target for developing molecules before 2003, so it will be ready before 2005 patent issues.