The Hindu Business Line : Bal Pharma stepping up export forays

The forays are driven by its herbal products, some of which recently received regulatory approvals in the UAE and South Africa, the company said here.

The UAE Drugs Control Department recently cleared Ashwamedha, a revitaliser for men, from the portfolio of its herbal drugs arm Bal Vedics.

With 15 ayurveda products in its portfolio, the company plans to promote drugs for kidney stones and arthritis control next. It is looking at a turnover of Rs 25 crore by 2011, according to Bal Vedics’ Associate Vice-President, Ms Archana Dubey Mitra.

The herbal arm is also applying for approvals in Sudan and Sri Lanka and is eyeing Korea and Germany. The parent — which manufactures branded formulations, active pharma ingredients, generics and herbals — is targeting a turnover of Rs 300 crore by 2010 on the strength of its herbal and other pharma exports.

Ashwamedha clearance

Ashwamedha has been approved by the UAE’s Drugs Control Department for sale as capsules on prescription. It will be Bal Vedics’ plank to enter the promising West Asian market for herbal drugs, according to Bal Pharma Managing Director, Mr Shailesh Siroya.

“The clearance from UAE gives us the confidence to market the product in the global arena,” he said. “The [earlier] NOC (no-objection certificate or clearance) from MCC, South Africa, and now the consent from the UAE [regulator] will give us the much needed exposure in the world market.”

According to Mr Siroya, the industry is on a high growth. There is also a huge demand for herbal drugs worldwide and the market, estimated at $60 billion, is growing at the rate of 7 per cent annually. “In tune with our global marketing strategy, Bal Pharma is in the process of registering its ayurvedic products in the international market.”

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