Cebuano-owned International Pharmaceuticals Inc. (IPI) is strengthening its presence in the overseas market, specifically hitting the G8 countries like United States and the European Union (EU).
In an interview with Maureen O. Galvelo, IPI assistant manager for international trade department, she said that the company is now working with regulatory requirements in US and EU member countries to take advantage of the strong demand for IPI products in these continents.
Already, IPI has been able to penetrate export markets in over 10 years, penetrating Middle East, Japan, and Asia Pacific countries.
This time, she said IPI will seriously make presence in European markets, such as Germany, Turkey, Italy, and Switzerland.
“We are still working with our documents to get registration from the FDA [Food and Drug Administration] in the US, and similar requirements in the EU,” she said.
Hopefully, IPI will get its FDA registration before the end of this semester, Galvelo said.
“After we get the FDA registration, we aim to hit big in the US market,” she stressed.
IPI’s top export products include; Omega Pain Killer, Liniment Cream, Casino (70 percent) Rubbing Alcohol, Bioderm soap, Dr. Wong’s Sulphur soap, and Efficascent Oil.
She said the company started its marketing blitz in Europe, starting with Turkey. In fact, IPI has successfully established distributorship connections there that would supply IPI products to other European countries.
“The demand is always there, it is very promising. But, we still have to complete our registration requirements to make a full blown presence in the G8 countries,” Galvelo said.
IPI, which will turn 50-year-old next year, is the maker of other locally known health care brands like Mama’s Love, Gastripac food supplement, Broncho Rub, among others.
Since in the early 1990’s, IPI had been active in penetrating the export market, starting with Asia Pacific countries, and Middle East.
This time, she said IPI will seriously enter the huge consumer base markets, like US and EU.
Unlike in the Philippines of which IPI products are widely available in the retail stores, Galvelo said in its export trade IPI product lines are consumed mostly by institutional clients or health care institutions, like clinics and hospitals.
In 2007, IPI exports grew by 61 percent, compared to the previous year. “We are maximizing the online trading and marketing,” she said.
IPI products were initially patronized by Overseas Filipino Workers (OFWs), now its line of products has been able to get the attention of non-Filipino consumers abroad.
As of now, bulk of IPI exports goes to Dubai and Saudi Arabia, she added. Increased demand are also seen in other countries like Bahrain, Brunei, Hong Kong, Iran, Japan, Malaysia, Papua New Guinea, Sri Lanka, Trinidad and Tobago, United Arab Emirates and Vanuatu in the Pacific Islands.
IPI was founded in 1959 in Cebu, with only one product—Efficascent Oil. Now the company makes diversified range of pharmaceutical and health care products which include liniments, antiseptics, herbal food and beverages, as well as cosmetics, toiletries, and medical devices. It employs over 2,000 workers.