The Gujarat-based generic drug manufacturer Cadila Pharmaceuticals is reportedly exploring the possibility of establishing a manufacturing plant in Bahrain. “We are scouting for partners with strong local presence and credentials in the industry or related activities,” Cadila Chairman and CEO Dr. Rajiv Modi told the newspaper.
“Indian Pharmaceutical considers the Gulf Cooperation Council (GCC) high growth market because governments here are opting for increased generic substitution. There is a large demographic with high purchasing power and an increase in the burden of lifestyle diseases, “Dr Modi was quoted by the newspaper as saying.
As part of the ‘Diaspora Engagement Meet’ held in the Gulf country, Modi said the company not only willing to sell its pharmaceuticals product basket in Bahrain, but also start manufacturing in the region.
The company has already obtained approvals from Gulf Central Committee for Drug Registration for many of their drugs.
He said Bahrain, with its competitive cost and ease of doing business advantages, was at the top of his list of locations where a plant could be set up.
India is believed to be the third largest exporter of active pharmaceutical ingredients and exports are expected to reach $ 25 billion by year end.
The ‘Diaspora Engagement Meet’ was organized by overseas Indian Facilitation Centre (OIFC) in Manama and was opened by Foreign Minister Sushma Swaraj.