Bafna Pharma receives GMP approval from Ethiopia

To expand its footprint in Africa following the certification

Bafna Pharmaceuticals, (BSE Code: 532989) Chennai-based pharma company engaged in the business of manufacturing of pharmaceutical formulations of Betalactum and Non–Betalactum products  has received the Good Manufacturing Practices (GMP) approval from Ethiopia’s Drug Administration and Control Authority (DACA) for its non-betalactam facility. Following the certification, Bafna Pharma expects to tap a huge geography of Africa.

Talking on the approval, Mr. Bafna Mahaveer Chand, CMD, Bafna Pharmaceuticals Ltd says, “We are very pleased to obtain the GMP approval from Ethiopia. Considering that the country is an import driven market, the company is expecting to generate good business from the Ethiopian pharmaceutical market which is estimated to be $200 million, with the imports occupying 85% of the market. We have a great opportunity to tap this growing market through our products.”

The imported finished products in the Ethiopia are less expensive compared to locally produced medication as there are zero or low import duties on end-products. The registration will now be expedited after company’s registration and approval to be GMP complaint by the country’s regulatory body — DACA.

About Bafna Pharmaceuticals Ltd:
Bafna Pharmaceuticals, is a BSE listed (BSE Code: 532989) Chennai-based Company engaged in the business of manufacturing of pharmaceutical formulations of Betalactum and Non–Betalactum products. The company has over 73 products registered in Sri Lanka, Ukraine, Lao and Ghana. The company has a WHO-GMP certified manufacturing facility in Madhavaram, which is a 100 percent Export, oriented Unit (EOU). The company has an EU GMP facility at Grantlyon, Chennai. Recently the company has secured ISO 9001: 2008, Certificate of Registration for Manufacture and Export of Pharmaceutical products and EU GMP Compliances from (MHRA) Medicines and Healthcare products Regulatory Agency, U.K. This accreditation has made Bafna Pharmaceuticals only the 35th facility to achieve this key recognition in India and has opened the gates for exploring markets of European Union.