The Gujarat-based generic drug manufacturer Cadila Pharmaceuticals is reportedly exploring possibility of setting up a manufacturing facility in Bahrain. “We are scouting for partners with strong local presence and credentials in the industry or allied activities,” Cadila Chairman and Managing Director Dr Rajiv Modi told the newspaper.
“Indian pharma considers the Gulf Cooperation Council (GCC) a high growth market because the 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.
On the sidelines of the 'Diaspora Engagement Meet' held in the Gulf country, Modi said the company was not only keen to sell its pharmaceutical product basket in Bahrain but also start manufacturing in the region.
The company has already got approvals from Gulf Central Committee for Drug Registrations for many of its 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 amount to $25 billion by the end of the year.
The 'Diaspora Engagement Meet' was organised by Overseas Indian Facilitation Centre (OIFC) in Manama and was inaugurated by Foreign Minister Sushma Swaraj.