 "Akums Drugs Expands Ambit: Europe Beckons for Global Dominance")
Akums Drugs and Pharmaceuticals, India’s leading Contract Development and Manufacturing Organisation, is expanding its presence by filing two dossiers in the European Union, with plans for a third. This strategic move aims to diversify its portfolio and tackle the ongoing changes in the global pharmaceutical industry, especially given the current challenges in the US Market. With existing GMP certifications for key dosage forms, Akums is well-positioned for growth in Europe. The company has invested significantly in new facilities across India to enhance manufacturing capacity and is optimistic about achieving substantial growth in both Indian and European markets. Akums aims to solidify its position as a major global player in the CDMO sector.
Akums Drugs Expands Its Reach Into European Pharmaceutical Market
In an exciting move for the pharmaceutical industry, Akums Drugs and Pharmaceuticals, the largest Contract Development and Manufacturing Organisation (CDMO) in India, has filed two important dossiers in the European Union (EU). This decision is part of Akums’ strategy to grow its product range and enter a new Market, reflecting their ambition to be a key player on the global stage.
As the global pharmaceutical landscape evolves, the European Market offers a more stable and attractive alternative to the volatile US Market. Akums’ General Manager of Strategy, Sahil Maheshwari, noted that Europe presents significant growth opportunities, particularly since the company already has the necessary Good Manufacturing Practice (GMP) certifications for two of its key dosage forms.
“Europe is a stable Market with significant opportunities for new entrants,” said Maheshwari. This move aligns with Akums’ broader strategy of diversifying its Market presence while also maintaining focus on its home Market in India, according to Arushi Jain, the company’s Director. The firm has been enhancing its manufacturing capabilities in India, investing around Rs 350 crore in new facilities dedicated to various pharmaceutical forms including injectables and oral solids.
With plans for additional manufacturing sites in Jammu and Baddi, Akums aims not only to grow its capacity but also to boost its revenue and Market presence significantly. The leadership team is optimistic about achieving substantial growth in the years ahead.
This ambitious expansion into Europe, combined with ongoing developments in India, marks a critical step for Akums as it strives to become a global leader in the CDMO sector.
Tags: Akums Drugs, Pharmaceuticals, CDMO, European Market, GMP Certification, Global Expansion, Indian Pharma Industry, Manufacturing Growth
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What is Akums Drugs doing in the European Market?
Akums Drugs is expanding its business into the European Market to reach more customers and grow its presence internationally. -
Why is this expansion important for Akums Drugs?
This expansion is important because it helps Akums reach new markets, increase sales, and strengthen its global footprint. -
How does Akums plan to succeed in Europe?
Akums plans to succeed in Europe by understanding local needs, ensuring high-quality products, and building strong partnerships with local distributors. -
Will this expansion create jobs?
Yes, the expansion is expected to create new jobs both in Europe and in Akums’ home country as the company grows. - What types of products will Akums offer in Europe?
Akums will offer a range of pharmaceutical products in Europe, focusing on quality and compliance with local regulations.
