Navin Bafna

Head - Business Development

India has emerged as one of the largest pharmaceutical exporters, contributing to about 20 percent of the global pharma exports. The country has been able to achieve this footprint because of several factors. An increase in native manufacturing of Active Pharmaceutical Ingredients has boosted pharmaceutical production and also helped in cost optimization. The emergence of advanced GMP-certified units at strategic locations in the country has also immensely contributed to the growth of production meant for exports. However, pharmaceutical exports involve various challenges in terms of compliance standards and regulatory guidelines that may vary for different geographies.

This is where Bafna Pharmaceuticals has made a mark in the pharmaceutical export segment of India by attaining global certifications like the UK MHRA and TGA Australia and has been exporting branded/generic formulations to reputed MNCs in many countries across the globe. The company goes by the tagline “Wellness Beyond Boundaries”.

Apart from the UK, the company has several other global certifications that make it a fit for pharmaceutical exports in strictly regulated markets. Many countries have high regulatory standards even with a smaller economy. Although economically constrained, they do not allow the spread of pharmaceutical products at scale and have created strict entry barriers. Bafna Pharmaceuticals Ltd has proved to be a world-class manufacturer by keeping up with international GMP standards. “We manufacture various branded and generic formulations across the globe. We produce a branded version for the formulation of Atorvastatin and export it to all of Australia.”, mentioned Navin Bafna, who has an MSc Management & Marketing degree from Birmingham University and heads Business Development, at Bafna Pharmaceuticals.

Operational Excellence

When it comes to international certifications, they are subject to numerous quality control audits of manufacturing plants. These audits are done by government agencies of different countries where foreign auditors visit Bafna and inspect/audit their manufacturing processes and equipment. The standards of these audits are very high as the fundamental objective for fulfilling these is to provide the best quality healthcare to patients. It is the care for human life that has been the cause for creating such strict regulations in the first place. As a pharmaceutical manufacturer, Bafna has always kept up with strict regulatory standards. The company deeply cares about the quality of the products it manufactures and respects the value of human life at its core. That is why, it is our first and foremost duty to make sure that all the parameters mentioned in regulatory guidelines are implemented and executed properly”, stated Navin.

Growth Story

The company was founded by Navin Bafna’s father, Mr. Bafna Mahaveer in 1981 and initially, they were only involved in government contracts. Being based out of Chennai, it had the strategic advantage of being one of the few pharmaceutical contract manufacturers from South India. Eventually, the company got its first private assignment from a reputed pharmaceutical MNC in 1994 and they have not looked back since then. Since the market for institutional/government tenders got overly crowded, they started focusing solely on the international markets. The company came out with its IPO in 2008 and is listed on the NSE and BSE. They are currently exporting more than 80 percent of their production and also have a presence in emerging markets with their own branded generics. “Our GMP-certified manufacturing plant is currently exporting to 20 odd countries including the UK, Australia, Sri Lanka, Philippines. I am proud to say that we have launched the first generic versions of formulations and monitored release products in emerging markets. We are very much focused on export and trying to create our niche for specialty formulations in highly regulated markets”, said Navin.

Looking Ahead

Since its inception in 1981, the company has come a long way and gained considerable respect and trust in the industry through good quality formulations and the zeal to grow further. With the country’s dream to double the export capacity in the coming years, the company also wants to expand its manufacturing prowess and go for niche products in the specialty formulations segment.