Indian pharmaceutical company Aurobindo Pharma has entered Oman and the wider GCC medical market with the signing of a formal agreement with Khimji Ramdas at Crowne Plaza Muscat on Monday evening.
The agreement was signed in front of a gathering of healthcare professionals from across the sultanate. Madan Mohan Reddy, director, Aurobindo Pharma, said, "After carving out a niche in stringent and regulated markets like the US and Europe, we have now entered the GCC market and have chosen Oman to be the country of our first launch. We look forward to the expansion of our international footprint."
Officials at Aurobindo Pharma said that a wide range of products would be made available at competitive prices in the Omani market. During the signing ceremony, the company also launched its Hiten range of hypertension medicines, designed to help reduce the effects and risks associated with high blood pressure.
Anil Khimji, director, Khimji Ramdas, said that the tie-up would bring a range
of healthcare advances to Oman. "We are proud to have Aurobindo Pharma, which will bring different therapy medicines to benefit the people in Oman and which heralds a era of partnership covering the entire GCC in future."
Also present was H E J S Mukul, Indian ambassador to Oman, who said that the partnership is well placed to help maintain the recent growth in Oman's healthcare sector and that it highlights the potential for other Indian companies to follow suit. "Oman has recently been developing its medical and healthcare sectors in association with the private sector and Indian companies are excellently placed to explore such opportunities in Oman," said H E Mukul.
"Bilateral trade between the two countries was worth US$5.1bn (approx RO1.96bn) in 2011 and the indication is that this has gone up further. Pharmaceutical imports to Oman are expected to grow. It was worth US$216mn (approx RO83.1mn) in 2010," he added.
The pharma company exports to over 125 countries and has offices in more than 30 nations. It employs over 9,500 people worldwide and has obtained a range of regulatory approvals from the agencies in US, UK, GCC and WHO.
© Muscat Daily 2012
