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news.India-based Bal Pharma is set to expand its presence globally by penetrating new regulated markets for active pharmaceutical ingredients (APIs). The company has also established a new plant in Uttaranchal, India, with an investment of INR250m.
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The company said that its new formulation plant is likley to deliver products to over 15 countries.
Pharmabiz quoted, Archana Mitra, associate vice president of exports at Bal Pharma, saying: “Exports have contributed 38% of the total turnover of INR 1.06bn for fiscal 2008-09. We hope to see revenues from international markets to be around 50% of our total earnings in 2009-10. The company always been geared up to fire the competition. It has done well in the first nine months in export of formulations and active pharmaceutical ingredients (APIs). In fact, both the segments grew in the international market.”
The company is eying markets like Europe, the UK, Canada and Japan for API, apart from Africa and South East Asia.
“The company has a sound strategy in place and the same would be implemented to ensure our hold in existing market with expansion plans to enter the regulated markets,” added Ms. Mitra.