Ms. Priyanka singh an young dynamic entrepreneur from Mumbai believes that future belongs to first line Generics medicines
Starting up:
Ms. Priyanka Singh highlights she has seen the humble beginning of Taj pharmaceuticals being a company started with core value to avail an affordable quality medicine to Indian people; and profit was never our priority.
Further: it wasn’t easy to establish foothold in Mumbai; being India’s one of most costly city and with limited knowledge of manufacturing capabilities; we had our own fair share of struggles and contingencies. We belong from Rajput community; those are not known to have great business sense, however we managed gradually.
However, being a college student Ms. Singh, used to take interest in big world of Pharma business and started learning the nonsense of trade at an early age.
She says that our management staff were all hired from big branded pharma company’s in Mumbai with high paid salary scale; however they were not much keen on promoting company’s product portfolio on wider spectrum; in short they were not so sure, if could survive in rat race.
Overcoming challenges and setting foothold:
“We don’t buy any goods unless we know their source,” says Ms. Singh. “We buy products directly from the manufacturers. The quality of Indian drugs is not bad, but the market for MNC’s is still very big and reach is quite higher. She has no qualm in admitting that.
“In the pharmaceuticals business, as in any other, marketing plays the biggest role. Indian manufacturers have to focus on marketing if they want to gain a market share and grow quickly.
Her prime focus of challenge:
Currently, Taj Pharma Group is run by Singh’s family with core focus to provide an affordable generics medicines globally.
Though Ms. Singh did not disclose sales and revenue figures, She claims that the company has a very good turnover and we are quite healthy in terms of a diversified product portfolio and relatively focus on semi regulated market like Africa, South east Asia, MENA and Russian countries.
Brief About Taj Pharma:
Taj Pharma is one of the leading generic pharmaceutical company in India. We hold top positions in different established markets and gradually building a strong presence in many emerging generics markets. We have eight manufacturing sites under flagship in India to support our market standing.
Today, we market more than 100 branded and 500+ generics compositions to consumers in more than 28 countries and territories across the globe. Our products cover a vast array of therapeutic categories, and we offer an extensive range of dosage forms and delivery systems including oral solids, controlled-release, steriles, injectables, topicals, liquids, Pre-filled syringes, steroids, transdermals, semi-solids and high-potency products.
Our Generics portfolio offers over 600+ products in the major therapeutic areas of gastro-intestinal, cardiovascular, pain management, oncology, anti-infectives, paediatrics and dermatology. Brands like Alzocum®, Benacof, Wallbrurate®, Coversec, Cadrol, Humogen and Merokem enjoy leadership positions in several key markets, including India, Russia & other CIS countries.
Our deep customer relationships, quality medicines and consistently delivered promise make us a trusted brand across the launched markets.
We have capitalized on every opportunity to bring our high-quality products to more people around the globe. A synchronized supply chain that leverages our strong product development capabilities, state-of-the-art manufacturing setups and vertical integration with our own APIs has created a creditable track record of successful launches.
Our generics offerings deliver quality at cost-effective prices in the semi-regulated markets of the South America, North America, Africa, Balkan countries and other Asian countries.
“We have received good orders for export market and domestic distribution are being taken care by our Hyderabad based depot”.
Going ahead, the Ms. Singh is looking to set up more distribution network across India, aimed at delivering quality generics to poor and needy people accordingly.
She also spoke about the fact that she understands the amount of privilege she comes from because of her family, especially the kind of comfort, security, and social status that she has had because of it. She said that she got them because of her parents who earned it, but has embraced it as part of her identity. I have great respect for my ancestors and lineage who has made their contribution in social reforms and making life easier for their people.
There is long way to go and I need to prove my niche amongst high achievers in my family.
She signs off.