We are a branded IPR-based pharmaceutical Company focusing on frontier markets...
Our purpose is to bring high-quality every-day medicines within the reach of populations...
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At Balaxi, our business strategies are responsible for creating a portfolio
We focus on bringing essential medicines within the reach of populations
At Balaxi, we have a comprehensive portfolio consisting of over 300
Our current established markets are Angola, Guatemala, and Dominican
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We are always looking at taking Balaxi to newer
markets and bringing essential medicins withine
the reach of people. In FY2020, following a rigorous
study on the Honduran pharmaceutical industry,
we submitted technical dossiers of our products.
Hyderabad, Wednesday, 18 November 2020: At Balaxi, we focus on
essential medicines into challenging frontier markets. We concentrate on non- English speaking countries
that hold the promise of improving per capita GDP.
We believe the Central American market to be quite promising, given that the
Company makes a long-term commitment with a deep-seated understanding
of regional needs. The Republic of Honduras is amongst the key target countries
under this criteria planned for entry in 2020/21. In line with this strategy, Balaxi
has entered this market by registering a rich suite of pharmaceutical products to
build a strong portfolio to cater to the local market.
At Balaxi, we are consistently looking forward to establishing and
robust local infrastructure by setting up on-ground warehouses, management
team and delivery fleet across new geographies. In FY2020, after a rigorous
study on the Honduran healthcare system and its pharmaceutical market, we
submitted several technical dossiers of our products in the Honduran market
for registrations. Countries such as The Republic of Honduras are expected to
remain highly dependent on generic drug imports, which offers Balaxi a strong
opportunity to tap the potential of this pharmaceutical market. The Company
has also established its first logistics base in the city of Tegucigalpa, with an initial
distribution fleet of XX transport vehicles. It has also established a XX people local
sales force to serve the market.
The Healthcare landscape in Central America is changing quickly. Demand
is growing as populations age and chronic diseases become commonplace.
Increasing wealth in some demographic segments drives a desire for higher
quality services. Governments are increasing spending, and Balaxi is committed
to investing into chosen market to expand its footprint in the region. Apart from
Honduras, Balaxi has already established its presence in Guatemala within the
Central America territory.
Honduras has a population of over 9 million and is nested within Central America.
The Honduran healthcare industry is highly dependent on imports. The Honduran
health system is made up of the public sector, which provides services to 60%
of the population. There is significant scope for improvement in the country’s
overall healthcare ecosystem, and its regulatory frameworks are gradually
evolving towards resembling standards akin to more regulated markets. The
harmonization of pharmaceutical regulation has been initiated in conjunction
with the creation of regional free trade zones. Five main free trade zones are
developing: North American Free Trade Agreement (NAFTA); MERCOSUR;
Central America; Andean Area; and The Caribbean Community. Regulatory
frameworks overall have improved as a result of free trade and intellectual
property agreements. Regulatory enforcement bodies, quality investigators,
proactive Good Clinical Practice (GCP) and policy development, have been cited
as contributing to Latin America’s explosive growth. Latin American countries are
currently moving policies to support productive development and innovation.
Life expectancy in Honduras, 20203
Currently, public spending on health in this country is around 7.86% of its GDP.1
The Honduran population is experiencing a steady rise in lifestyle diseases
such as diabetes, vascular disease, malignant neoplasm (uterine, breast, skin,
stomach, ovarian cancer), influenza and pneumonia, hypertension, chronic renal
insufficiency, chronic lower respiratory diseases, intestinal infectious diseases,
and metabolic/nutritional diseases, amongst others. 2
1 Health Expenditure in Honduras
3 Honduras Life Expectancy