India's Marck Biosciences Ltd, a leading pharmaceutical products producer, has categorised Malaysia as a key export market in Southeast Asia and will begin shipping its products from the country by the end of this April.
The Ahmedabad-based company, a specialist in producing sterile dosages pharma products and blow-fill-seal, recently received the nod from Malaysia's National Pharmaceutical Control Bureau (NPCB), of the Health Ministry, to export its items.
"Amongst the Southeast Asian countries, Singapore and Malaysia are the most prosperous and recognise each other's audit approvals.
"Although the market is small and competitive, our pricing structure gives us an edge over competitors to create a position for Marck in these markets," Bhavesh Patel, the managing director of Marck, told Bernama.
The company has identified diluents, injectables and ophthalmic products for export and targets revenue of RM 3.6 million (US$1 million) in the first year of operations in Malaysia.
"We are planning to launch a range of ophthalmic products in Malaysia. Many of our ophthalmic products are in the pipeline awaiting registration, which is a natural sequence after plant approval.
"We are looking at 10 million units of our diluents and injectables during the first year of operations. Our strategy is in place and Marck will make its presence felt in the year 2009 itself," added Patel.
The company has not ruled out setting up a manufacturing plant in Malaysia and using it as gateway to other Southeast Asian markets in the future.
"Southeast Asia as a whole is at the centre of our future planning. This can only be achieved by being present in one of the locations in the region. Malaysia, because of its unique geographical situation, emerges as a venue of choice for the manufacturing site," he added.
Marck is equipped with a state-of-the-art manufacturing factory, spread over 25 acres near Kheda in Ahmedabad.It can cater for the Southeast Asian demand for pharmaceutical products.