Hyderabad: City-based biotech major Bharat Biotech International Ltd has forayed into the regulated markets. The company has received approval from Korean Food and Drugs Administration (KFDA) for its manufacturing facility. With this approval, the company would be able to market its products in the South Korean market. Korea is among the four regulated markets after US, Europe and Japan.

For a beginning, Bharat is planning to market is haemophilus influenza type b vaccine in South Korea. The company has got an order for Rs 2 crore.

"The Korean market is a high-value market. Bharat's approval by Korean FDA will create a level-playing field and help re-position Indian companies' entry into global markets in the sphere of injectables. This is because the Korean drug regulations are as stringent as US and Europe," Bharat Biotech chairman and managing director Dr Krishna M Ella told repoerters here on Monday.

The FDA approval would also help in adding value to Bharat's brand in the South-East Asia and Far East, the company's executive director Suchitra Ella said. Bharat is targeting the Indonesian market next for selling its products.