Vaishali Pharma forays into domestic market; launches antifungal brands

Vaishali Pharma has forayed into the domestic pharmaceutical market by launching two antifungal brands under dermatology therapy segment.

It is an established pharma company in non-regulated and semi-regulated exports markets for its branded generics, formulations products with a presence across 20 countries and has garnered around 120 product approvals.

The brands include Fungi quick Itraconazole 100 mg capsules and Conazal -Luliconazole one per cent cream. These products have been targeted to dermatologists and general practitioners for treating fungal infection. The company is optimistic about gaining sizeable market share in the products and is likely to add more products to its basket going forward.

It trades in pharmaceutical raw materials and bulk drugs, which forms around 70 per cent of its total revenue and the rest, approximately 30 per cent, comes from manufacturing of pharmaceutical formulations for the export market. The dermatology segment has been performing well as compared to other therapy segments in India. However, due to the pandemic, the segment has been sidelined for a while.

Vaishali Pharma is engaged in the manufacturing and marketing of pharmaceuticals formulations, APIs, surgical products, veterinary supplements, herbal, nutraceutical and oncology products. With its foray into the dermatology segment, the company now has a wide scope to strengthen its footprints in the domestic market.

On Wednesday, the stock of Vaishali Pharma opened 2.2 per cent higher at Rs 48.95 from its previous close of Rs 47.90 on NSE.