The Gujarat-based Intas Biopharmaceuticals Limited (IBPL) has chalked out plans to market indigenously developed biotech products in Gulf countries. Initially, the company is looking to market three products - Neukine, Erykine and Intalfa. At a later stage, the company hopes to expand its operations in GCC countries.
The Gulf Cooperation Council (GCC) region, comprising of six countries namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, offers unique business opportunities and benefits to IBPL.
Speaking to Pharmabiz, Simon Daniel, chief executive (Marketing), IBPL, said, "The GCC region, which has significant requirement of products, and services in the biotech segment, is an important destination, keeping in view the market attractiveness for branded biologics, next only to US and European markets. Being the only Indian biopharmaceutical manufacturing company with an EMEA certification and making inroads in the European market, IBPL's entry into GCC region is an important and critical step towards its expansion plans to reach new geographical regions across the globe".
With surge in demand for oncology products, GCC region holds tremendous potential for Indian companies, which has a dedicated biotech and oncology product pipeline. The technology strength of the IBPL and the market intelligence and distribution network of our local partner can be unified for providing the much-needed boost to establish business rapidly.
As part of mandatory requirement to register itself as a company in GCC, IBPL has submitted necessary documents to the Ministry of Commerce, GCC, based on which the company received "Certificate of Company Registration" to further carry out the business activity. As part of mandatory process followed now, IBPL has initiated procedure of submitting the required technical documents for product registration in the GCC region.
Sharing views on company's International Business Development activity, Daniel, said, "After EMEA certification, the entry into GCC region has become relatively easy for IBPL as the quality conscious Pharma/biotech companies in the region are assured of superior quality of products and services. Amongst regulated and semi-regulated markets, IBPL offers an edge over its competitors in terms of unique pricing, products, services and its marketing strategy. With unique capabilities of R&D, Manufacturing and Marketing, IBPL has significant presence in Europe, Asia-Pacific, Middle East, Russia, South and Central America and Africa."
Talking about company's future prospects, Daniel said, "IBPL is looking to consolidate its position in the Contract Research and Manufacturing Services (CRAMS) segment. The company has taken up CRAMS opportunity as a focus area with tremendous potential and are preparing to scale up the facilities. With respect to CRAMS, IBPL offers a unique business model for offshore clients from regulated/semi-regulated markets and has competitive advantage in terms of developing new biotech products, technology transfer and contract manufacturing at committed costs, quality and time to create a competitive advantage for the company. With growing business opportunities, IBPL will find itself in the best position to plan certain key initiatives in the coming financial year".