B&E: What is the current outlook at Mankind Pharma?
RCJ: In a highly competitive industry like pharmaceuticals it is necessary that you have a highly motivated sales force. For that we ensure that our medical representatives get variable incentives that are best in the industry. What really drives us is that our sales force visits doctors on a regular basis. They are trained not just to sell the product but to establish a relationship built on trust. In today's competitive market you need to give incentives to the retailers to promote your product and to make your product available because of the competition being throat cutting and massive. My people even visits the doctor's to maintain a good relation with them as well as it works one or the other way. We already have eight plants and as part of our expansion plans we have a ninth plant coming up which is under construction. It would probably be ready by 2011. A total of Rs.100 crore has been invested in this plant. We are also coming up with an R&D center in Manesar, Gurgaon which would be functional by January 2011.
B&E: What plans do you have in the export domain?
RCJ: Our export targets have been very minute. In fact we have just forayed into the export domain. With respect to exports we are only present in Sri Lanka, Philippines and Vietnam. India is a huge country and we believe that there is a lot that is left to be done on our home soil. Once we achieve our Indian aspirations, we would target SAARC and CIS Countries.
B&E: You have projected a revenue of `3000 crore for the year 2015 and given your growth story till now, it looks easily achievable. When do you plan to become the number 1 pharmaceutical company in India?
RCJ: We are trying our level best and focusing on becoming the number 1 company in India. We basically like to move forward with the market trend. Throughout the world, global pharma companies are finding it difficult to sustain their growth as patents are expiring. To make things even worse their pipelines have almost dried up and the cost of coming up with a new molecule is exorbitantly high. In such a scenario they are looking up to India to acquire companies here. We believe that by working hard, we can definitely achieve the number 1 position.
B&E: What kind of opportunities does Mankind Pharma see in India?
RCJ: India is a huge country and the per capita consumption is only `400 per annum per person. From all the metro cities we are expecting sales of around `45000 crores this year. If we were to categorise, then 25% of the medicines are being consumed by big towns while 72% of the medicines are consumed by 1/3rd of India's population and the rest 28% by 2/3rd of the population. As per our calculations, 72% of the pharma medicines are consumed by the 67% of the population whereas the rest only consume near about 28%. Pharmaceutical industry is one of the fastest growing markets in India and this is precisely the reason why global pharma companies are willing to pay a premium to acquire Indian companies. Amidst all this, we believe that we can perform better because we have what it takes to succeed.
RCJ: In a highly competitive industry like pharmaceuticals it is necessary that you have a highly motivated sales force. For that we ensure that our medical representatives get variable incentives that are best in the industry. What really drives us is that our sales force visits doctors on a regular basis. They are trained not just to sell the product but to establish a relationship built on trust. In today's competitive market you need to give incentives to the retailers to promote your product and to make your product available because of the competition being throat cutting and massive. My people even visits the doctor's to maintain a good relation with them as well as it works one or the other way. We already have eight plants and as part of our expansion plans we have a ninth plant coming up which is under construction. It would probably be ready by 2011. A total of Rs.100 crore has been invested in this plant. We are also coming up with an R&D center in Manesar, Gurgaon which would be functional by January 2011.
B&E: What plans do you have in the export domain?
RCJ: Our export targets have been very minute. In fact we have just forayed into the export domain. With respect to exports we are only present in Sri Lanka, Philippines and Vietnam. India is a huge country and we believe that there is a lot that is left to be done on our home soil. Once we achieve our Indian aspirations, we would target SAARC and CIS Countries.
B&E: You have projected a revenue of `3000 crore for the year 2015 and given your growth story till now, it looks easily achievable. When do you plan to become the number 1 pharmaceutical company in India?
RCJ: We are trying our level best and focusing on becoming the number 1 company in India. We basically like to move forward with the market trend. Throughout the world, global pharma companies are finding it difficult to sustain their growth as patents are expiring. To make things even worse their pipelines have almost dried up and the cost of coming up with a new molecule is exorbitantly high. In such a scenario they are looking up to India to acquire companies here. We believe that by working hard, we can definitely achieve the number 1 position.
B&E: What kind of opportunities does Mankind Pharma see in India?
RCJ: India is a huge country and the per capita consumption is only `400 per annum per person. From all the metro cities we are expecting sales of around `45000 crores this year. If we were to categorise, then 25% of the medicines are being consumed by big towns while 72% of the medicines are consumed by 1/3rd of India's population and the rest 28% by 2/3rd of the population. As per our calculations, 72% of the pharma medicines are consumed by the 67% of the population whereas the rest only consume near about 28%. Pharmaceutical industry is one of the fastest growing markets in India and this is precisely the reason why global pharma companies are willing to pay a premium to acquire Indian companies. Amidst all this, we believe that we can perform better because we have what it takes to succeed.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri's Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
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Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
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IIPM B-School Detail
IIPM Links
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri's Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
