The South African drug market is increasingly getting attractive for Indian pharma companies, with the latest entrant to the approximate $3.3 billion market being a Mumbai-based mid size firm, Maneesh Pharmaceuticals.
The Rs 800-crore Maneesh Pharma last week signed a marketing and distribution pact with South Africa-based Aspen Pharmacare. As per the deal, as many as 13 registered products of Maneesh in the anti-tuberculosis (TB) segment will be marketed in South Africa by Aspen. The South African anti-TB drug market is estimated over $100 million.
Apart from Maneesh, Aspen has tie-ups with other Indian pharma firms such as Lupin, Strides Arcolabs and Matrix. In 2006, the World Health Organisation ranked South Africa fifth among the world’s 22 high-burden TB countries.
Vinay Sapte, managing director, Maneesh Pharma, said, “Though many Indian players have a presence in South Africa, we hope to benefit through combination drugs made with our patented technology. We hope to achieve sales of $10 million from South Africa by 2011. Once the TB drugs are successfully marketed, we will expand the portfolio with other therapeutic drugs.”
Maneesh Pharma is planning brand buyouts in CNS and anti-infective therapeutic areas in the regulated markets such as the US and the UK, following the successful buyout of Smyle range of brands from Kopran. “As company buyouts are difficult in the current situation, we prefer brand buyouts with the product basket of the acquired firms to be expanded,” he said.