HYDERABAD, India, Oct. 8, 2020 /PRNewswire/ — Pursuant to the shareholder approval granted in the Annual General Meeting held on September 11, 2020, the MCA has now granted approval to the change in company’s name to Balaxi Pharmaceuticals Limited.
Listed on the National Stock Exchange, Balaxi Pharmaceuticals Limited (Balaxi) is a fast growing pharmaceutical company with on-ground presence across regions like Angola, Guatemala, and Dominican Republic. The Company is engaged in supplying branded and generic medicines addressing multiple therapeutic segments through its asset-light, stock & sell model. Balaxi owns a robust product portfolio of 548 registrations coupled with an on-ground infrastructure of 38 warehouses and a fleet of owned vehicles for logistics.
Managing Director, Mr. Ashish Maheshwari commented, “Balaxi invests significant resources in securing formulations registrations in frontier markets of Africa and Central America. Balaxi has a strong recall as a leading pharma brand in regions where we have presence. Considering our focus on pharma business, it is only apt that the company’s name reflects our brand proposition.”
About Balaxi Pharmaceuticals Limited:
Balaxi Pharmaceuticals Ltd is a branded IPR-based pharmaceutical player focusing on frontier markets, with a vast and growing portfolio of prescription and OTC drugs, across multiple therapeutic segments. The Company is engaged in supplying branded and generic medicines through its well-built distribution network across Angola, Guatemala and Dominican Republic. These products are procured from WHO GMP certified contract manufacturers based in India, China and Portugal. Balaxi is present in ancillary business and building a branded FMCG business which complements pharmaceutical business and provides operating leverage on the back of well-established on-ground infrastructure and channel relationships.
Forward looking Statement
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Balaxi Pharmaceuticals Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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SOURCE Balaxi Pharmaceuticals Limited