Mankind Pharma, a Rs.3,500 crore pharma giant, is set to launch the API factory by the year 2015 to promote affordable drug manufacturing in India. The company plans to focus on the goals set by Prime Minister to turn India into a manufacturing destination through a stringent focus on quality and efficiency as well as on reducing the collision on the environment of the production processes deployed. The initiative will incur a mammoth investment in the pharmaceutical sector with a focus on zero defect, zero effect by making drug manufacturing affordable by 20-30 per cent.
The company revealed that the Indian pharmaceutical industry of worth Rs.1.20 lakh crore has an API market of about Rs.50,000 – Rs.55, 000 crore. Out of 10,000 manufacturers, about 70 per cent are into drug formulation, and the rest 30 per cent are into manufacturing APIs of which Mankind Pharma is one of the prime leaders. Through the ‘Make in India’ campaign, the industry is looking forward to a huge impact on the research and production of reasonable generic drugs in the country.
According to pharmaceutical industry data, in 2013-14, Indian drug exports registered the slowest growth in nearly the last 15 years. In this fiscal year, pharma exports of the country with a turnover of US$ 14.84 billion grew at a meager 1.2 percent. Generic drugs currently contribute over 80 percent of prescriptions written in the US. Around 40 percent of prescriptions and Over The Counter (OTC) drugs that are sold there, come from India. Almost all of these are cheaper generic versions of patent expired drugs. Hence, India’s commercial stake in this area is indeed mind-boggling.
R C Juneja, chairman and founder, Mankind Pharma said, “The Government plans to make India the 3rd largest pharmaceutical market by 2020 with a rate of 20% global exports in generics. With the advent of ‘Make in India’ campaign it is sure to give a boost to the manufacturing sector. Keeping ‘the motive in mind, it would certainly help draw investments and employment opportunity in the country. We are coming up with an API centre in Rajasthan which will be functional by end of this year and will give boost to the Pharma industry by manufacturing affordable drugs in the country.”
Meerut-based Mankind Pharma has dedicated itself in developing a wide portfolio of generics and new products. With an annual growth of 25 per cent, Mankind Pharma has gained an annual turnover of Rs.3,500 crore in the fiscal year 2014-2015. In the last 10 years, Mankind has grown at an average of 30 per cent, against an industry average of 12 per cent.
“Unlike other manufacturing or heavy industries in India, the pharma sector is innovative, widely acknowledged as making a global impact in the treatment of communicable and non communicable diseases. It also has the ability to support the healthcare needs of the world. The industry has clearly proved with the years that it has the potential to be a part of the solution for universal access to healthcare. More dedicated practices to improve the research & development and manufacturing of patented drugs will strengthen the industry”, added R C Juneja.
Mankind Pharma is steadily marking significant achievements with their R&D capabilities along with substantial increase in investments in creating the mechanism of novel drug delivery system, developing patentable and cost effective active pharmaceutical ingredients and finished formulations. The company’s diversified research has propelled innovative processes to drive innovation in the field of nanotechnology, oral film technology, trans dermal drug delivery, microencapsulation, multi particulate system, lipid based drug delivery system and several other technologies for creating lifesaving medicines for masses.
Mankind Pharma, incorporated 1995, today with an employee base of more than 12,000 is heading towards a turnover of Rs 5,000 crore. Mankind is a fully integrated pharmaceutical company, with a comprehensive network of 62 C&F agents & 7500 Stockists. With a pan India presence and offerings spanning in Antibiotics, Antifungals, Gastrointestinals, NSAIDs, Anthelmintics, Cardiovascular, Dermal and Erectile Dysfunction categories. The strong portfolio of products ranging from Pharma to popular OTC & FMCG brands – Manforce Condoms, Manforce Tablets, Manforce Staylong Gel, Unwanted72, PregaNews, , Adiction, Gas-O-Fast, and Kaloree-1 provides the strategic benefits of integration that allows Mankind Pharma to perform best in an increasingly competitive market.
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