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Indoco to supply 500 mn anti-diabetic tabs per annum to Germany

Our News Bureau - Mumbai

Indoco Remedies will supply 500 million metformin, anti-diabetic tablets per annum to Germany for two years towards the AOK (Allgemeine Ortskranken-kassen) tender, The Health Fund of Germany. It is a Germany's biggest health insurance company, rendering services in medical care for over 10 decades.

Suresh G Kare, Chairman and Managing Director, Indoco Remedies said, "This opportunity to supply Rs 500 mn worth Metformin will see Indoco manufactured Metformin in every pharmacy in Germany. Since metformin is one of the top selling products in Germany in terms of volume. This order marks a milestone achievement in Indoco's endeavour to propel the international business to higher altitude. "

Indoco's business associate in Germany, one of the successful AOK tender bidders, has completed the legal formalities thereby facilitating the supplies from Indoco that will cover the entire range of metformin tablets, viz., 500mg/850mg and 1000mg. The supplies towards the AOK tender will span over a period of two years.

Indoco commenced supplies of finished formulation to Germany in 2005. These supplies catered to the trade and saw a steady growth in sales, with a peak sale of Rs seven crore during the last financial year. Encouraged by increasing sales in the trade, Indoco's business associate in Germany submitted their bid for AOK tender.

AOK's extensive health management system offers consistent quality management results and this makes it the best health care organisation offering services at a reasonable price. The massive infrastructure throughout Germany enables AOK to provide an efficient and timely service to its members.