Ahmedabad APRIL 29 2016: Amanta Healthcare India’s leading manufacturer and marketer of sterile dosages and Blow-Fill-Seal (BFS) specialist opens a new chapter in Australia with the award of the Therapeutic Goods Administration (TGA) approval for Sterile Water For Injections B.P and Sodium Chloride Injection B.P products manufactured at its Small Volume Parenterals (SVP) facility at Kheda.
The TGA Australia will enable Amanta Healthcare to access the Australian markets with products Sterile Water For Injections B.P. (5 mL 10 mL and 20 mL) and Sodium Chloride Injection B.P. (5 mL & 10 mL). The Australian market growing at a CAGR of 6.2% is expected to reach USD 42.5 Billion (2020). Growth will be largely driven by increasing demand for lifestyle disease drugs among aging population; the uptake of new expensive drugs; and strong government support for generics. The Australian Government’s Pharmaceutical Benefit Scheme (PBS) that subsidizes close to $6.5 bn on over 80 percent of drugs in Australia. Beside the ongoing reduction in PBS subsidy the Australian government also supports the trading of generic drugs given that the cost of purchase is far lower than its branded equivalent. Together with the subsidy reduction and government support for generics many physicians will soon prefer to prescribe mostly generics to their patients.
For Amanta Healthcare the approval carries the opportunity of accessing Australia’s fastest growing segments.
The Therapeutic Goods Administration is part of the Australian Government Department of Health and Ageing. The TGAs overall purpose is to protect public health and safety by regulating therapeutic goods that are supplied either imported or manufactured or exported from Australia. It is responsible for administering the provisions of the Therapeutic Goods Act 1989. The TGA is responsible for ensuring that therapeutic goods available for supply in Australia are safe and fit for their intended purpose. Broadly this involves undertaking activities to ensure that therapeutic goods available in Australia are of an acceptable standard.
Speaking on the TGA Australia approval Mr Bhavesh Patel MD Amanta Healthcare said: “The TGA - Australia approval for our Kheda facility will provide further impetus to our current expansion efforts in stable growth economies. Australia’s health expenditure will continue to increase with the increasingly ageing population. The focus on lifestyle disease management presents robust growth possibilities. I see strong revenue potential in the Australian market and believe that we can make a quantum contribution to healthcare in the various segments”.