May set up manufacturing facility in 2 years
Ahmedabad, Sept. 29
The Ahmedabad-based Claris Lifesciences Ltd is all set to enter the Philippines pharmaceutical market with its range of sterile injectable products and the company may set up a manufacturing facility there in the next couple of years.
The Philippines Ambassador to India, Ms Laura Quiambao Del Rosario, who held discussions with the Claris Chairman and Managing Director, Mr Sushil Handa, here told
Business Lineon Thursday that concrete proposals are likely to be finalised when the Philippines President, Ms Gloria Arroyo, visits New Delhi in March 2007.
She said Claris would be a trailblazer in making available affordable life-saving products to the Philippines, which has a pharmaceutical market worth $1.5 billion. Also, since the Filipinos feel that the Western companies' medicines were over-priced, Claris could be the leader in inculcating a feeling that even Asian pharma companies, particularly Indian, could supply the best of medicines cheaply. "Clearly, some of the Western companies are worried," she remarked.
During her business trip here, Ms Arroyo would also explore possibilities of the two countries' mutual cooperation in sectors like food processing and BPO in Gujarat and mining, pharmaceuticals, agriculture, biotechnology, and bio-fuels in other States of India.
Ms Rosario said the Tatas, Birlas and Infosys, among others, have already made investments in the Philippines in different sectors in the past.
Claris officials said the company had already set up a subsidiary, Claris Lifesciences Philippines Inc, to strengthen its position in that country's market.