Karnataka's small scale pharma enterprise, Bentley & Remington Private Limited has grabbed orders valued at Rs 2 crore for its drug products from the price sensitive Latin American and African markets in the last two months. The company which began exports from April 2005 has now Rs 4 crore earning from the global sales alone.
The company's global competitiveness is boosted by its manufacturing competence, quality standards, superior logistics capability and workforce. The factors that had the positive impact on the international arena for Bentley is its ability to meet customers' requirements in terms of quality and delivery time lines which led to building strong relationships. Not only that a downturn in the domestic market because of the excise duty on MRP led the company to mould its core competencies in analgesics and antibiotics segment to create export growth much beyond its expectations.
"These non-regulated markets are now looking at India and at customers who have WHO GMP compliant facilities to source the products. Bentley & Remington fitted the bill for the supply deal and this also was an opportunity to become competitive globally. Therefore our consistent focus and foray into the global markets has begun to pay," B Vasant Ranka, managing director, Bentley & Remington Private Ltd., told Pharmabiz.com
Since April 2005, the situation in the country particularly for small scale pharma companies has been extremely bad. The firms were forced to devise forward looking survival strategies because of the excise duty on MRP where sales in the domestic market became no longer lucrative. Companies like Bentley & Remington had to turn aggressive and survive in the international arena to remain in business.
The small pharma enterprises need to adopt a more pragmatic approach of partnerships or joint ventures which could bring about production and technology sharing strategy with countries. In such a scenario, small-medium sized pharma companies for export growth can target countries with less developed drug manufacturing industry. At the same time, some of the bigger Indian companies can import the technical expertise or even capital to make dents in various markets. All that companies need is the drive and the dedication, pointed out Ranka who is looking for a bigger share of the export pie.
Meanwhile, Bentley is also gearing up for its South East Asian market entry where registrations processes are on. Other global trade zones include Germany and South Africa. It is also keen to address demands of many more regions in the non regulated markets.
The investment of Rs 2 crore to modernise its plant at Peenya Industrial Area in Bangalore in early 2005, has been worthwhile going by the orders generated and its efforts to tap the contract manufacture business. Out of the company's three units in the premises, two units are for contract manufacture and the third is a tablet-capsule production unit for formulations in painkillers, anti inflammatory, mucolytics, anti-spasmodic and antibiotics.