A report in PharmaBiz notes that the move is part of a new export market initiative. Bal Pharma has already started dialogues with importers in the region to market its formulations and hopes to begin trade operations at least by mid-2005 after its product registrations. In the area of bulk drugs, the company is awaiting clearances from agents in Switzerland to enter the CIS region.
The company believes there is considerable potential for branded generics in the CIS, and particularly in the antiulcerants, antibiotics, analgesics and antipyretics segments.
It intends to test the market in countries like Azerbaijan, Kazakhstan, Kyrgyzstan and Ukraine and then extend the territories after assessing the response. The operations will start with antibiotics and analgesics, to be joined later by cardiology and diabetics drugs, said Bal Pharma .
The company is forecasting that sales of its products will rise to 1 billion rupees (€18 million) this year.
