BAL PHARMA WINS UAE APPROVAL FOR ASHWAMEDH

2008-05-15 15:01:03 - BAL VEDICS, the herbal arm of BAL PHARMA LIMITED has received the important approval from the Drugs Control Department, Ministry of Health, United Arab Emirates, for its ayurvedic drug, ASHWAMEDH, a re-vitalizer for male libido, to promote in the UAE region.

BAL VEDICS, the herbal arm of BAL PHARMA LIMITED, the leader in manufacturing, marketing and exporting of pharmaceutical products, has received the important approval from the Drugs Control Department, Ministry of Health, United Arab Emirates, for its ayurvedic drug, ASHWAMEDH, a re-vitalizer for male libido, to promote in the UAE region.

With this approval, BAL VEDICS is all set to enter the vibrant market for herbal drugs in the Middle East. UAE boasts a huge market for herbal drugs and this approval to enter the ethical route will now see ASHWAMEDH gain a major foothold in the Middle East region.

BAL VEDICS bagged the permission to export Ashwamedh capsules, after passing all requisite processes. The approval from the Drugs Control Department, Ministry of Health, United Arab Emirates, allows the Bal Vedic product 'Ashwamedh' to be prescribed in the region.

Commenting on the approval, Mr. Shailesh Siroya, Managing Director, BAL PHARMA LIMITED said, 'In tune with our global marketing strategy, Bal Pharma is in process to register its ayurvedic products in International Market. There is a huge demand for herbal drugs worldwide and the market is estimated to be around 60 billion USD with a growth rate of 7 percent annually. Bal Pharma is eyeing an establishment under this segment after tasting the success in modern medicine. The clearance from UAE gives us confidence to market the product in Global arena.'

Besides UAE, Bal Pharma is also in the process of getting approval for its herbal drugs in Sudan and Sri Lanka.

'NOC from MCC, South Africa and now consent from UAE will give us the much needed exposure in world market. The pharmaceutical industry is on high growth and Bal Pharma foresees itself as a prominent player in the market,' Siroya said.

Efforts are also on to tap Korea and Germany who are keen on Indian alternate system of medicine & supplements.

Bal Vedic's ayurvedic products are well-known in the domestic market and are in process of gaining popularity in world market. 'To get consent from the regulatory authorities requires clearances in product contents and certification of high quality standards. We use standardized extracts and maintain proper documentation to fulfill international requirement. The process is lengthy but fruitful. The UAE tops the list of the Gulf and the other Arab countries in the individual consumption of medicines per year,' stated Ms. Archana Dubey Mitra, Associated Vice President, Bal Vedics.

The company is looking at products for kidney stones and arthritis control after Ashwamedh enters the Middle East market, Bal Vedics, which has a range of 15 products, shall be marketing its products abroad under the herbal segment.

Going by the rapid change in lifestyle and related disorders with aging problems, the ayurvedic drugs can really be a solution to all the growing problems of human naturally.

The 15 products under the division are well known for segments in the gynaecology and Urology. Going by the performance so far, Bal Vedics is looking at a turnover of Rs 25 crore by 2011.

The 2006 market size for pharmaceutical and drug industry in the UAE is estimated at US$448 million with an expected annual increase of 12 percent each year due to huge domestic demand,

MORE ABOUT BAL PHARMA

Bal Pharma Ltd is a leading manufacturer, marketer and exporter of pharmaceutical products in India and abroad. Established in 1993, the company has an envious track record of providing its immaculate services in the health care market. The company's strength spans a range of Branded formulations, APIs, Generics including Parentereals, and Intermediates, to Herbals. Bal Pharma has three manufacturing units, one for APIs coupled with R & D, the second for formulations both located at Bangalore and a third unit for Parentereals at Pune; all equipped with ultramodern state-of-the-art technology. All units conform to the GMP standards as laid down by WHO. Bal Pharma is one of the top companies in the country having the latest Form Fill and Seal (FFS) technology. With manpower of more than 1000 in the company, the company is committed to develop, manufacture and market innovative Pharma products. The company is presently targeting a four-fold growth to touch a turnover of Rs 300 crore by the end of 2010, by focusing on international markets and branded formulations.