In order to consolidate its already existing dominant presence in the Russian pharmaceutical market, pharma company J.B. Chemicals & Pharmaceuticals Ltd (JBCPL) is planning to set up a wholly owned subsidiary in Moscow. The subsidiary company called "OOO Unique Pharmaceuticals Laboratories" has been mandated to expand the company’s international business in Russia and CIS countries which has been its key growth driver in recent times. It will initiate its business plans with a start-up investment of $3 million.
Mr D.B. Mody, director of JBCPL, said, "We plan to grow our market share in the $5.5 billion (at retail price) pharma market in Russia and CIS countries and maintain our leadership position with introduction of new products and novel technologies in much wider therapeutic fields in near future." The bulk of the revenues (45 per cent) for JBCPL are in the form of export revenues generated mostly from these markets. In fiscal 2004-05, the total exports of JBCPL were pegged around Rs 211 crores at a total turnover of Rs 370 crores.
Elaborating on the Russian operations, Mr Mody added that the company, in the mid 90s forayed into Russia and was then amongst the first Indian companies to establish a representative office in Moscow. Currently, it has two marketing offices in Moscow and Kiev and operates in ten countries in CIS.
Mr D.B. Mody, director of JBCPL, said, "We plan to grow our market share in the $5.5 billion (at retail price) pharma market in Russia and CIS countries and maintain our leadership position with introduction of new products and novel technologies in much wider therapeutic fields in near future." The bulk of the revenues (45 per cent) for JBCPL are in the form of export revenues generated mostly from these markets. In fiscal 2004-05, the total exports of JBCPL were pegged around Rs 211 crores at a total turnover of Rs 370 crores.
Elaborating on the Russian operations, Mr Mody added that the company, in the mid 90s forayed into Russia and was then amongst the first Indian companies to establish a representative office in Moscow. Currently, it has two marketing offices in Moscow and Kiev and operates in ten countries in CIS.