Mankind Pharma looking to achieve $1-bn turnover by 2021: Official

Drugmaker Mankind Pharma is looking at achieving a turnover of $1 billion by 2021 from the present Rs 52 crore, a top company official has said.

The company is also looking at increasing its exports substantially to $100-150 million in the next three years from the present $ 10 million.

It has a significant presence in Southeast Asia, Africa and the CIS markets.

It has recently ventured into the US market with the filing of 12-15 ANDAs every year.

"Our current turnover is Rs 52 billion and will touch $ 1 billion by 2021 as we target higher growth in both the domestic as well as international markets," Mankind Pharma chairman R C Juneja told PTI.
 

 

"We continue to focus on domestic market which is still growing at a CAGR of 8-10 per cent with special focus on regions where we are not strong and there is tremendous potential to grow," he added.

It will continue to focus on chronic segment/lifestyle diseases which are growing markets here and generates long-term prescriptions.

"We continue to focus on our OTC division where we have leading brands like Manforce, Preganews, Acnestar, Gasofast, Unwanted 72," he added.

Juneja noted that the company has successfully completed 10 per cent stake sale to ChrysCapital. Having a marquee investor like Chrys back on board at double the valuation of what they sold four years ago also gives a reassurance of the brand equity of Mankind, he said.

As per the shareholding pattern, 79 per cent is owned by the family, 11 per cent is with Capital Partners and the remaining 10 per cent owned by ChrysCapital.
 

Whether the recent ban on certain drugs by the government has affected the overall domestic pharma industry, Juneja said FDCs were one of the major pillars which lead to growth of our domestic pharmaceutical industry and was also a differentiating point for the industry but "it has exploited this opportunity by launching lot of irrational combinations of FDC without any scientific rational."

The health ministry recently banned 328 fixed dose combination drugs (FDCs) following recommendations of the drug technical advisory board. These drugs were found to be irrational and without therapeutic justification.

There were lot of FDCs in the market which were rational and were also in the benefit of our patients as combining two rational drugs in one FDC is always more pocket friendly and provides more dose compliance rather than having two medicines individually, but some of those have also been banned because of this whole fiasco, he explained.