IBSA continues its relentless global expansion. After South America, which we discussed here, it’s Eurasia. In June 2020, IBSA signed a major distribution contract with Maylen Farma SA for fertility, rheumatology, dermatology and urogynecology products in a number of countries: Georgia, Uzbekistan, Azerbaijan, Kyrgyzstan, Tajikistan, Kazakhstan and Belarus (known as the -stan countries). In March 2020, IBSA also brought its urogynecology products to the Balkans, with North Macedonia, Albania, Kosovo and Bosnia Herzegovina.
“IBSA had not yet penetrated Eurasia this far and we are therefore thrilled with this new expansion opportunity,” noted Carmen Vigorelli, the Group’s International Sales Sr Manager, who added, “Registering our products is always a daunting challenge, in terms of both timing and resources. Moreover, our entry into Eurasia is a crucial part of our strategy to gain access to the Asian continent, which boasts very important markets. To date, we have registered and launched our fertility line in Georgia and Uzbekistan and soon our products will be available Azerbaijan as well. From there, we will continue eastward.”
As with IBSA’s expansion in other areas, to enter the -stan countries it was essential to find the right partner. “We have found an attentive, fast-moving and extremely pro-active partner in Maylen Farma SA and we are confident that this will be a fruitful, successful partnership. In recent years, IBSA has grown significantly through similar partnerships. Today we are active in 80 countries across five continents, with no intention of stopping now. Our development strategy envisages expansion to countries where we are not yet present with our products”, concluded Vigorelli.