Mankind Pharma, a fast growing firm in the formulation drug segment, has entered the OTC segment, besides charting out plans to double its revenues in the next two years by tapping the potentials in new drug delivery systems, contract research and new drug discovery.
As the OTC segment is luring more established companies by throwing open vast potentials, the Mankind has recently launched its women health products in the market and received a good response, company managing director R C Juneja told Pharmabiz.
The Rs 370-crore company, which registered 60 per cent growth last year, hoped to cross Rs 525 crore mark this fiscal. Through consolidating the existing areas and tapping the new segments, it aims to hit Rs 750 crore next year.
Mankind launched oral contraceptives, sanitary napkins, drapers and condoms recently, and also has plans to follow it up with more OTC products like painkillers, he said.
Mankind is setting up two new state-of the-art facilities for manufacturing and R&D operations, one at Poanta Sahib in Himachal Pradesh with Rs 30 crore initial investment and another one in Gurgaon of Haryana with Rs 35 crore outlay. The injectable plant in the HP excise-free zone, with a production capacity of 30 million ampoules and 30 million vials, would be operational by March this year. The R&D facility also would be ready by December. It would have the capabilities in the areas of formulations development, new drug delivery systems, bio equivalence studies, contract research and new drug discovery.
Currently, the company has market presence in antibiotics, antifungals, nutritional, gastrointestinals, NSAIDs, antihelmintics, erectile dysfunction categories besides its stronghold of Quinolone segment. The company, which plans to strengthen its marketing team in the coming years, is in talks with an Italian firm for selling their pharmaceutical products exclusively in the country.
The company chief also disclosed that he would enter the foreign markets at a later stage, launching formulations in South East Asia and semi-regulated markets like South Africa and former CIS countries to begin with.