Novartis India is set to grab future opportunities in Indian pharmaceutical market with favourable changes in patent regime as well as introduction of new policies. The strong support from its holding company – Novartis AG, Switzerland with focus on improvement of efficiency of field force and stronger product pipeline will give necessary boost to its pharmaceutical business in the coming years.
Addressing the analyst meet in Mumbai yesterday, R. Shahani told that Indian pharmaceutical market has large potential and Novartis India is taking steps to tap future opportunities. The company is improving its field force productivity and also taking initiatives in life cycle management. He added that in-licensing business would be another area of growth. “Indian economy is growing and the health insurance business is spreading. With the availability of cost effective treatment, the Health Tourism segment is also growing in the country. There is tremendous growth in the consumption of lifestyle drugs. The government is also changing policies. All these factors will help to achieve sustain growth in pharmaceutical business,” he added.
Anil Matai, CEO of Pharmaceutical Division, expressed that there is positive future for Pharma business in the country. Novartis may consolidate its position through acquisitions. But he pointed out that instead of taking over entire company with its liabilities and labour force, we would be interested in acquisition of brand with our own financial resources. The Indian Pharma market is growing fast and the growth is likely to be in the region of 9.5 CAGR during 2004-2009. Matai said that rising household consumption, penetration of health insurance, IP protection, ageing Indian population and rise in consumption of lifestyle drugs would push demand.
The company’s Pharmaceutical division increased its share in sales to 78 per cent in 2004-05 at Rs 289 crore from 61 per cent in the last year. The company introduced two new product viz., Citro-macalvit and Trioptal. The company is holding first rank in major therapeutic areas such as pain & inflammation, gynecology, CNS and Transplantation/immunology.
K N Chandrasekaran, Head of Sandoz Business Unit (Generics), said the stiff competition in the field of Generics is putting pressure on business. The price reduction by the Government of Anti-TB products and rising tender business is crating tough time. The company is taking steps like restructuring of field force to improve productivity, promotional plan to keep loyal customers and special promotional thrust for Regestrone brand.