New Delhi, Dec 13 (PTI) Ayurvedic healthcare firm Veerhealth Care on Friday announced the successful closure of the US Food and Drug Administration (FDA) assessment of Form 4003, a significant milestone in its global expansion plans.
The FDA's confirmation that no further action is required signifies the company's adherence to rigorous quality and regulatory standards, a company statement said.
According to the statement, this achievement opens doors for Veerhealth Care to penetrate the lucrative US market and cater to the growing demand for natural and Ayurvedic healthcare products.
Bhavin Shah, Managing Director of Veerhealth Care Ltd, said, "Successful completion of assessment by the USFDA against document submitted for the RRA, would enhance the company's current standing and its reputation and visibility in the market".
The company is expected to get monthly repeat export orders from clients of the USA for its products in the Oral Care category, he added.
"It's a testament to the quality of our products and services. We remain committed to delivering excellence and expanding our global footprint in the healthcare and personal care sector," Shah said.
Veerhealth Care has already made significant strides in its international expansion. The company has secured export orders worth Rs 3.50 crore, demonstrating its strong global presence.
Furthermore, a strategic partnership with a leading US institutional supplier holds the potential for substantial revenue growth, with monthly and annual order values estimated at Rs 1.50 crore and Rs 18 crore, respectively.
To further solidify its global footprint, Veerhealth Care has recently hosted a visit from a prominent Russian corporate group.
The company is expecting to reach Revenue of Rs 100 crore with PAT (net profit) of 10 per cent in the next 2 to 3 years.
VeerHealth Care is involved in the business of manufacturing and supplying Ayurvedic medicines, oral care products and personal care products.
All finished formulations are manufactured at its manufacturing facility in Vapi, Gujarat, designed to comply with international requirements with validated systems.