The challenges of the global CMO remit of a pharma company at Taj Pharmaceuticals Limited
“We do not think of ourselves as only pharma company; we are a overall healthcare company with pharma products”, she clarifies; The biggest challenge is the rapid change and keeping up with such changes in all segments. All markets are changing in shorter and shorter time periods with rapid shifts in technology, the regulatory environment, the economic situation etc. We have to pay attention all the time in all the markets.
A category much tougher than many others
Possibly the biggest challenge is to help stakeholders understand newer technological innovations. Some of these are complicated, and not easy to make into stories, and yet what we share with consumers and medical practitioners, cannot read like a simple tech-manual. Side by Side, we have to follow the government standards (EMA, US FDA, CDSCO, MOH) and the regulatory framework.
It is more complicated due to a larger number of stakeholders in pharma brand building. There are constraints from regulators and global country based ministry of health that one has to be very mindful of; We can’t talk about some of the new products as proof points because regulators won’t let us. The technical side is very complicated to explain to people unlike say an FMCG brand. In a Nut shell you may understand that, there could be new molecules which are tested and approved for human use; but different countries may want us to conduct country specific clinical trials before giving marketing authorization; and such may take years before the drug based brands can be licensed; or first generics in that regard.
Evolution of storytelling in healthcare
Historically healthcare companies have been mostly about people in lab-coats, behind the bench inventing. It started with talking about generic molecules which is important and we still do that. But we also started talking about services, and now it has moved to showing the experience: what do our generic products mean to the person on the other side using them?
We have tended to be a quiet company. ‘Taj Generics’ in 2015 was our first corporate campaign in India, in spite of having been around for over 25 years. For a company that is so old we have been very quiet. We may have talked about products like Merokenm (Meropenem), Clavuxan (Co-amoxiclav) etc. but the conversation about who is Taj Pharmaceuticals has been very limited. How many companies that old have not talked about themselves? and their marketing campaigns; However, our theory is work in isolation, make good and affordable generics; and that market itself based on patient feedback and effects.
The evolving consumer in healthcare sector
Today people want to know not just about the products but the philosophy of the company. The modern consumer wants to know who he is transacting with and who is behind the screen. It’s a different level of interest as the digitization is growing. And to top it all, healthcare is very personal affair matters.
Not yet betting big on Cannes in terms of winning awards
We have not been aggressive on trying to win awards, that is not Taj Pharma ways to master success in the market. We have, so far, been focused on getting it right with the people whom we have been talking to. I do get the importance of winning awards. It is bragging rights for everyone.
Health camps as marketing tools — Taj Pharmaceuticals
I find the energy and creativity great. The teams have invented some of the most interesting tools I have seen. India will be the centre of excellence for digital and tech marketing for the company along with its largest manufacturing hub.
A generic drug is a medication created to be the same as an existing approved brand-name drug in dosage form, safety, strength, route of administration, quality, and performance characteristics.
Taj Generics is one of the leading generic pharmaceutical company in India. We hold top positions in different established markets worldwide and are building a strong presence in many emerging generics markets. Today, we market more than 500 branded and 4600 generics compositions to consumers in more than 40 countries and territories across the globe.
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