Marck Biosciences to tap Latin American MarketMarch 11th, 2008 - 11:47 pm ICT by admin
Ahmedabad, March 11 (IANS) Drug manufacturer Marck Biosciences Ltd (MBL) Tuesday announced its plans to enter the Latin American markets. The company has got the nod from National Health Surveillance Agency of Brazil (ANVISA) for exporting sterile injectibles to the Latin American country, said Bhavesh Patel, managing director of MBL.
After Brazil, MBL will also export drugs to other countries in the continent like Argentina, Chile, Columbia, Mexico, Peru and Venezuela. With the move, MBL is eyeing a turnover of Rs.1 billion ($24.75 million) in 2008-09 and expects to generate revenue of $10 million by 2009-10.
ANVISA, the health care watchdog of Brazil, regulates and enforces goods manufacturing practices according to the World Health Organisation (WHO). Products must be registered with ANVISA prior to sale in Brazil.
“With the ANVISA approval and the large SVP capacity, we are now uniquely positioned to be the outsourcing partners of choice to all the well established pharmaceuticals companies of Brazil and other Latin American countries. This would be in addition to our own product portfolio,” said Patel.
Founded in 1996, MBL is currently present in 40 countries. It claims that it would expand its operations to 20 more countries this year. The company’s one plant is located at Kheda town, in central Gujarat, about 45 km from here.
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