Medibest to increase generic product range with additional growth in export market
The Bangalore-based Medibest Pharma, one of the generic players in the domestic market, is now focusing on the international market in a big way. In order to cater to the generic export market, the company plans to increase its range of antibiotic injectables and other formulations.
In fact, the company, which has been concentrating only on the domestic front with its product range of 150 generics, had started exports last year in a moderate way. Considering the increasing demand of the global market for Indian generics, the company is confident of doubling its export earnings next year. Medibest is also scouting for contract manufacturing orders from global pharma majors for generics.
Speaking to Pharmabiz.com, K V Krishnan said that now they are convinced that there is a lot of potential for injectables in the international market from their own market experience and from the global customer enquiries.
The company made headway into the export last year by entering into the markets of South Africa, Miami, Latin America and Sri Lanka. Some of the leading products in exports include paracetamol, mebendazole, cotrimoxazole, ampicillin, amoxycillin and ibuprofen 800mg. The other generic formulations of the company include capsules and tablets of analgin, ampicillin, atenolol, calcium pantothenate, salbutamol and rifampicin to name a few.
"We conduct research for generics at well known laboratories of other major pharma companies in the country," says Krishnan. And, the actual strength of the company lies in its range of generics and sales network. Currently, it has sales network based at Karnataka, Tamil Nadu and Kerala and Pondicheri and it is planning to set up a sales depot in Mumbai shortly, he added.
At present, antacids, antibiotics and steroids are the major revenue earners for Medibest. The company, which has its manufacturing facility at Hosur in Tamil Nadu, is currently planning an additional injectable plant in the same facility.