42 BIOTalk
BioSpectrum | November 2017 | www. biospectrumindia. com
As India is second hub for the FDA approved products, we understand enormous opportunities of development in pharmaceutical / health care industry. As pharma industry is expanding at almost 18-20 % CAGR, we are also keen to expand our portfolio in this segment especially supply of varieties of ready prepared media.
media. Currently, we have two manufacturing units. We are upgrading those established units as well as setting up one more unit for ready prepared media to satisfy the increasing need of international market. Countries like Saudi Arabia and Siberia approached us for technical collaboration which we may consider.
What percentage of your sales revenue is being spent on R & D? How many people are working at your R & D centre? What kind of innovation the team has been working on now?
Approximately 10 % of our sales revenue is devoted to R & D and we are planning to surge it to some extent to keep upgrading our technology and inventing novel products. We are also considering extension of our R & D activities directly in the hospitals. Our own R & D labs will be set up in different hospitals to process the samples in the hospitals immediately for faster diagnosis by saving the time. We have developed our own technology for diagnosis of different diseases like Sickle cell anemia, dengue, thalassemia etc. to serve the healthcare industry in a better way as Life is Precious for us. Regenerative medicine is looming area which involves a transitional research in tissue engineering and molecular biology using stem cells and primary cells. Similarly, Biosimilar and monoclonal antibodies( mAbs) production are also burgeoning segments. Supplying explicit media for regenerative research and chemically defined serum free media( CDSFM) for mAb production at affordable price is a major area of focus for us.
Are you launching any new product / s in next 6 months? If yes in which area and how do you see the market opportunity for the same?
Strength of HiMedia is R & D due to which HiMedia could flourish and possesses broad series of products in all the segments of Biosciences. Updating and upgrading ourselves through innovations is a constant process for us since four decades and that is why, we now have portfolio of around 4500 unique products. This approach sets us up in top three manufacturing companies in the world. Henceforth also, we will keep launching numerous new products not only in next 6 months, but persistently in the future. Recently HiMedia has ventured into hydroponics business and working aggressively in this sector. We have started consultancy services and supplying kits to various Universities. Hydroponic labs are being set up in several Universities for cultivation of hydroponic plants and products. Setting up hydroponics business at such a scale is unique venture of its kind in India.
At present HiMedia is amongst the top three brands in microbiology in the world. By when we can see it as the top brand in the world?
We are currently at this position only due to urge for quality and excellent service provision. Today financial top positions are acquired by mergers and acquisitions. We are not in that rat race. Nevertheless, to answer your question I would humbly say within a span of next 5 years we shall be the top brand in the world. My directors, fellow scientists and other colleagues are striving strategically towards this goal. However, for certain novel products like HiCynth; HiMedia is already documented as top brand with great global demand.
Do you see the competition for your range of products in the market? If yes how do you wish to address it?
Yes, there is always competition for our range of products. This competition is one of the driving force for further evolution of more innovative products. HiMedia principally defines“ Competition” in two ways; first with the brands available in the market and second with itself. We believe that, you grow when there is healthy competition and struggle for existence. Due to which our R & D team is always on toes and driven for constant innovations and quality. That is the cause, HiMedia scarcely patented products / techniques, so as to encourage other companies to manufacture similar range of products to compete with. HiMedia compete with self too, by enhancing product quality and consider this as an opportunity to become better than yesterday.
The company has clocked a revenue of Rs 395 crore for FY 2013. What plans you have in place so that it will touch Rs 1000 crore?
The overall CAGR for HiMedia has been 18 % since last five years. Growth in domestic segment has been 25 % since last three years. By maintaining and improving the quality of the products, discovering new products persistently, catering to the human kind at reasonable prices, we will positively reach Rs 1000 crore in 3-4 years.