Bafna Pharmaceuticals has received approval from Sri Lankan authorities for the launch of Olmesartan Medoxomil, anti-hypertension drug. The drug will be launched as Olmebaf, and will initiate marketing in Sri Lanka next year.
The product will be sold directly by Bafna Pharma.
The company said: “The company is all set to market the brand by early 2010. Bafna Pharma is the only Indian company to market the branded product ‘Olmebaf’ in the Sri Lanka market for the treatment of hypertension.
“The Sri Lankan market for these product segments is expected to grow at a rate of up to 10 per cent annually for at least the next five years.”
Drug Controller General of India (DCGI) has earlier approved Olmesartan Medoxomil in combination with Hydrochlorothiazide as anti-hypertensive drug.
Mahaveer Chand Bafna, chairman and MD of Bafna, said: “We are delighted to now have our direct presence in Sri Lanka market. We have invested in developing infrastructure and getting the team in place for the long term implementation of our strategy for the market.”