those connections, determining market viability,” he says.The trade missions serve as crucial networking opportunities where V&S representatives meet potential clients to assess compatibility. “If we are a match, then we can look at whether we want to sell to them directly or establish distribution chains with them,” Viraj Persad explains. This methodical approach mirrors the complexities of Caribbean pharmaceutical distribution, where each island nation maintains distinct regulatory requirements and market preferences. Despite these challenges, the company views regional expansion as crucial to its development. SUPPLY CHAIN AND MODERNIZATION CHALLENGES Foreign exchange shortages pose the most significant threat to V&S Pharmaceuticals’ operations as the company sources raw materials from Europe, USA, India, and China, making foreign currency access critical for maintaining production. This is The company faces the challenge of varying product preferences across different territories. Although V&S’s products are not yet present in all the Caribbean Islands, the company is working towards achieving this very soon. When asked about their current progress, Viraj confirms they remain in exploratory stages.“Yes, we’re in the initial stages, putting our feelers out, making 94 BUSINESS VIEW CARIBBEAN VOLUME 12, ISSUE 07
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