Senses Pharmaceuticals Ltd has commenced started its operations in Bangalore to tap the growing ophthalmic pharmaceutical market. The company has a comprehensive range of solutions in sensory care medications.
The company with promoters from the pharma and healthcare space has already invested Rs 2.5 crore for setting up its operations. The funds for setting up the company have been sourced through bank debt and promoters investments.
The company has identified Wintac as its contract manufacturer to produce its range of sterile ophthalmic range which includes eye drops, surgical drapes, diagnostic agents, nutraceutical and other oral preparations. The products are manufactured at WHO GMP compliant facility and complies to international standards.
Rexam Pharma will carry out the packaging utilizing its automatic bottle filling nozzle, placing capping machinery for the production of eye drops at Class 100 environment.
The range of eye drops will include anti-infectives, steroids, anti allergens, glaucoma, tear substitutes along with surgical supplies and accessories. There is a huge opportunity in this space for eye care which the most critical organ of the body. "While we access markets across the country, we are also focusing in the Rest of the World (ROW) which include Africa, Asia and South East Asia. In Africa we have already identified opportunities in Nigeria, Libya, South Africa, Madagascar. In the South Asia we will address the needs of the counties of Nepal, Sri Lanka and Bangladesh," S Rajagopalan, director, Senses Pharmaceuticals, told Pharmabiz.
Indian market size for sensory organs (eye) is estimated to be valued around Rs 2,000 crore. Current leading players are Allegan, Micro Labs through its dedicated division Micro Vision, Sun Pharma and Cipla.
The new entrant Senses Pharmaceuticals will have a team of 50 to market the products. "We have devised our game plan to increase sales and ensure that we too gain recognition at the earliest," stated Rajagopalan.
According to the World Health Organization estimates, around 37 million people in the world are blind and 124 million suffer from some kind of visual impairment. It is also estimated that without proper interventions, the number of people who are blind are likely to increase to 75 million by 2020. At the same time almost 75 per cent of the cases of blindness are treatable or preventable. In this regard, the Union government has accorded high priority to the Blindness Control Programme and has enlarged the scope of the programme to include diabetic retinopathy, glaucoma, and childhood blindness.
Under its National Rural Health Mission, India is committed to reduce the burden of avoidable blindness by 2020. It has adopted strategies advocated for Vision 2020: Right to Sight project. The gift of vision improves quality of life. Almost every family in the country has one or more of its members affected with eye problems.