Patent-based drug market to see a new lot of players

With the the patent laws in the country become a year-old, in the next three years, the current lot of industry leaders in the pharma sector would be replaced by a new breed of players, thus transforming the pharma industry so that it can become globally competent says Subinder Khurana, president, MarketRx the Gurgaon-based knowledge process outsourcing firm that provides commercialisation services to pharma companies the world over.

The $30-million company, had set base in India two-and-a-half years ago to offer end-to-end services to the pharma companies to penetrate the market. Its clients include all the top 20 global pharma companies.

MarketRx is now looking at marketing its services to the Indian subsidiaries of the global MNCs.

Explaining the potential of the Indian pharma sector Khurana says, "The Rs 20,000-crore drug market in India is a genric-based one as of now. But in the next 2-3 years, the market will change to a patent-based drug market. With this, the market dynamics will completely change as the MNCs will expand very dramatically here."

Pointing out that in a genric-based drug market, pricing and distribution play key roles, he says, "In a patent-based drug market, marketing strategy and innovation will be key elements to a company's success. As such, Indian companies will have to reinvent themselves to become market savvy."

Speaking on the company's plans for India, he says, "We have recently completed a project for an MNC in India and are expecting more follow up projects from them. Besides, we see the demand for our services rising once global best practices come in and global drugs come to the Indian markets. It will happen within the next five years time."

With a head count of 160 people in India, which is distributed among its two locations in Gurgaon, the company is also interested in consolidating its India operations, he says, "We are looking out for a 3,000-sq ft office to consolidate our operations into a single premises, as we are targeting a 225-people mark by the year-end."

Growing at the rate of 50 per cent, the company is in the process of setting up operations in the UK. Khurana says, "We are setting up a delivery centre in London and other parts of Europe as we are now focusing on the European markets for growth."