The Ahmedabad-based Cadila Pharmaceuticals Ltd has received regulatory approvals for marketing its bulk drugs and formulations in the European Union, Australia, South Africa and Brazil.
The Rs 575 crore (Rs 5.75 billion) company, which has its presence in the SAARC, North America and various other countries through its business channels and subsidiaries, will also take the bulk drugs and formulations to Japan, New Zealand, Uzbekistan and Azerbaijan in the next two years.
"We have recently got approvals from the competent authorities in the EU, Brazil, South Africa and Australia to sell our products in these countries. During the current year, however, we will focus mainly on the markets in east European countries, Japan and Latin America, mainly in Brazil," said A R Kurup, general manager of Cadila.
"We have already over 450 product registrations in various international markets across the globe and over 250 in various stages of product registration. This is the largest number of registrations achieved by any Indian company overseas. We have also commissioned a modern sophisticated manufacturing facility for soft gelatin capsules at the Kadi complex to cater to the needs of the larger overseas market," Kurup said.
Cadila, which had reported an export turnover of Rs 60 crore (Rs 0.60 billion) from bulk drugs and formulations at the end of fiscal 2001-02, witnessed a 25 per cent growth in its export revenues at the end of last fiscal.
With the regulatory approvals for EU and Australia, Cadila will be targeting a higher growth rate in its export revenues at the end of the current and next fiscal years.