Zuventus Healthcare, Aristo Pharma, Indoco Remedies, Blucross Labs & Ajanta Pharma in the Race to Win Doctors Heart
6th Annual Pharmaceutical Leadership Summit & Business Leadership Awards 2013 to decide the most respected company preferred by the Indian medical practitioners.
Wednesday, 20th November 2013, Mumbai, Maharashtra: As the momentum for the Pharmaleaders’s (www.pharmaleaders.tv ) 6th Annual Pharmaceutical Leadership Summit & Pharmaleaders Business Leadership Awards 2013 (www.pharmaleaders2013.com ) is going bigger & bigger, the coveted & prestigious category for the India’s Most Respected Company by the Medical Practitioners 2013 is being widely debated amongst the professionals of the healthcare industry in view of the value attached to the medical profession. Organised by Pharmaleaders, Asia’s most analytical news media in healthcare, the forum will debate Incredible Pharmaleaders 2013 – Billion Dreams by the stalwarts of the pharmaceutical Industry & the veterans from the medical practice. Rated by the industry analysts & trade pundits as the most credible platform for debating significant issues, the historic 6th edition by pharmaleaders is concentrating on the relationship between the pharma companies & the doctors. More than 100 top medical practitioners in india & abroad are expected to attend this leadership summit while 200 CEO’s of the Healthcare companies have blocked their calendar for the annual affair. In the limelight is the nomination category of India’s Most Respected Company by Medical Practitioners 2013 where India’s top five leading pharmaceutical companies such as 1.Zuventus Healthcare Ltd, Indoco Remedies Ltd,2.Aristo Pharmaceuticals Ltd,3.Ajanta Pharma Ltd,4.Blu-Cross Laboratories Ltd.
As per the figures available with Pharmaleaders, india has close to 7 million registered Indian medical doctors. There are 387 medical colleges in the country—181 in government and 206 in private sector. India produces 30,000 doctors, 18,000 specialists, 30,000 AYUSH graduates, 54,000 nurses, 15,000 ANMs and 36,000 pharmacists annually. Health ministry claims that there are about 6-6.5 lakh doctors available. But India would need about four lakh more by 2020 to maintain the required ratio of one doctor per 1,000 people. It is widely known that the major pharma players in the branded formulation market spend millions in building brands to win the hearts of the doctors to get the patronage & prescriptions, however, as per the latest research available to pharmaleaders & the survey conducted in major towns revealed that doctors have become increasingly conscious of the product endorsements. There is also an increasing competition amongst the pharma companies to satisfy the increasing demands of the doctors.
Against the background of the prevailing medical practice & market conditions, the image of pharma companies are of utmost importance says Satya Brahma, Chairman & Editor-In-Chief of Pharmaleaders, India is a challenging market where the promotion of the brands to the doctors & building the sustainable approach to the mindset of the doctors is a huge task & involves hard work & big bucks. All the five major players in the Nomination category such as 1.Zuventus Healthcare Ltd, Indoco Remedies Ltd,2.Aristo Pharmaceuticals Ltd,3.Ajanta Pharma Ltd,4.Blu-Cross Laboratories Ltd are enjoying the market dominance in their respective therapeutic segments & have employed innovative strategies to woo them, the final verdict lies with the doctors as nearly 35000 doctors will vote the coveted title, ‘India’s Most Respected Company by Medical Practitioners 2013”. While the first generation entrepreneur Prakash Guha is spearheading Zuventus Healthcare, veteran Suresh Kare is driving Indoco Remedies, Sharma Brothers are running the Aristo Brand & Isranis & Purushottam Agrawal are driving Blucross & Ajanta Pharma respectively.
The Indian pharmaceutical market (IPM) is currently valued at Rs 72,069 crore as against Rs 65,654 crore in 2012 & though Though the market value has seen an increase, the sector overall has experienced a slowdown with its growth going down to 9.8% from 16.6% in 2012. This slowdown can be attributed to the new drug pricing policy and the regulatory interventions over the last year, The industry is witnessing additional challenges like delays in clinical trial approvals, uncertainties over the FDI policy, a uniform code for sales and marketing practices and compulsory licensing. The slowdown is also evident from the number of new product launches, which has gone down from approximately 1900 in year 2010 to 1700 in year 2012. The contribution of chronic therapies to the IPM has gone up from 27% in 2010 to 30% in 2013. Chronic therapies (cardio, gastro, CNS and anti-diabetic) have outperformed the market for the past four years and are growing at a rate of 14%, faster than the acute therapies (anti-infectives, respiratory, pain and gynaec) which grew at 9.6%. “The economic environment in India is tougher now than ever before. While pharma companies focus their attention on measures to combat the growth slowdown, they will need to work with the government and other stakeholders to discuss and resolve regulatory challenges. Resolving the impasse with clinical trials is critical both for patients and India’s ambition to innovate.”.According to the report, India is perceived as an attractive destination for clinical trials but has been marred with genuine concerns. Clinical trials are an inherent part of the drug development process and cannot be dispensed with. The continuing search for new therapies and cost-effective alternatives to existing therapies will be realised in practice only after comprehensive clinical trials.The clinical research industry in India needs to work closely with the government to create a regulatory mechanism that allows scientifically sound and ethically correct trials to be conducted so that the benefits of clinical trials can be brought to patients in India.The industry is also facing stricter regulations on manufacturing and quality practices in the domestic as well as he international markets. Indian companies will have to raise their compliance to US FDA regulations as they drive their major share of exports from the US market.The implementation of the National Pharmaceutical Pricing Policy 2012 by the Government of India has resulted in margins erosion from 20% and 10% to 16% and 8% for retailers and stockists, respectively. This decrease in the stockist margins led to a significant uncertainty among many stockists regarding the feasibility of staying in business due to lower profitability post the margin reduction.
The final result of the winner will be declared on the award presentation ceremony on Friday, 27th December 2013 in Mumbai, India.
Contacts :
6th Annual Pharmaceutical Leadership Summit
Unit No. 53, 2nd Floor,
Aditya Indistrial Estate,
Devrukhkarwadi, Chincholi Bunder,
Malad (W), Mumbai – 400 064
Phone: + 91 22 4248 1240 / 4248 1234 / 4248 1235
Mr Anish Khan : ++ 91 9819499475
Ms Amrapali : ++ 91 9594030372
Email : registrations@pharmaleaders2013.com
Email : pharmasummit2013@webevents.in
Web : http://www.pharmaleaders2013.com
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