 The Middle East countries have prospects aplenty for the herbal drug sector in India provided companies adhere to stringent quality standards and ensure that product registrations are through. The country's herbal drug major, The Himalaya Drug company has managed to export over 20 formulations to the region. Ravi Prasad, president & CEO, Himalaya Drug Company discusses the prospects and problems in the region in an e-mail interview with Nandita Vijay. Excerpts:
How the markets from the Middle East countries look at Ayurvedic products from India?
The attitude towards herbal products from India is very positive in the Middle East. Indian products compete with herbals, primarily from US and Europe. As of now, there are around 20 Ayurvedic products registered and marketed in the Middle East from Himalaya.
What are the major hassles encountered by Ayurveda companies to export to Middle East?
As long as the products exported comply with the quality standards set by the international pharmacopoeia, there is no problem whatsoever. The rigorous processes and systems at Himalaya ensure that every product meets with WHO(World Health Organisation) and FAO (Food and Agriculture Organisation) standards.
What are the drugs exported by Himalaya Drug Company to Middle East?
Himalaya is exporting over twenty formulations to Middle East. The flagship product in Middle East is Cystone, which is for urinary tract infections associated with urinary stones. Cystone in fact has attained the market leader status in its therapeutic segment in most of the Gulf Cooperation Council (GCC) countries. Other important products are Liv 52, Septilin, Tentex Royal, Confido, Speman, Diabecon, Pilex and Bonnisan.
Which are the Middle East countries that Himalaya Drug Company is exporting to?
We have a wide presence in the Middle East. We are present in the UAE, Oman, Kuwait, Egypt, Bahrain, Qatar and Yemen. Our launch in Saudi Arabia is scheduled for January 2006.
What is the size of the market that Himalaya Drug Company is competing for in the Middle East?
Pharma market in Middle East is estimated at US$ 3 billion. Separate data for herbal segment is not available.
Could you brief us on Himalaya's plans in Middle East for the future?
Himalaya's pharma business in Middle East is poised for aggressive growth. Keeping in mind our growth plans, we have moved our offices to much larger premises in the Dubai Free Zone. Himalaya entered the large markets of Egypt and Yemen in 2005 and with the entry in Saudi Arabia, scheduled for January 2006, we are looking forward to a great future. We also plan to make a foray into the Levant market - Jordan and Lebanon. We are studying the viability of large scale manufacturing in this part of the world.
What is the company's export sales target set for next year?
As mentioned earlier, our growth plans are very aggressive, and being a privately held company, we are not in a position to divulge any financial information. |
