Innovation in Bulk drug Industry

Innovation in Bulk drug Industry
of 11
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Related Documents
  Title: Innovation strategies in the bulk drug industry Case Study: Unilab ChemicalsPvt. Ltd. and M/s lue Circle BY Mrs Poo!a "u#ta$ssistant Pro%essor ; Bharti Vidyapeeth Institute of Management Studies & Research, Belapur Email:  pg!aidehi"gmailcom   M: ##$%'()# &r. Pradee# Man!rekar'ead( Research and E*tension centre; +r + Y atil Institute of Management Studies, -B+ Belapur Email: drpradipm"gmailcom   M: #.%)/..#. $bstract: Inno!ation is the fundamental 0asis for creating firm specific asset that ena0le a firm to achie!esustaina0le ad!antage and impro!e its corporate performance 12o3ard, 4##)5 Indian 0ul6 drug industryis e*panding at a !ery fast rate and is an important part of the Indian economy Many entrepreneurs ha!e!entured in this industry and are no3 facing competition & price 3ars 7his research paper re!ie3sinno!ation strategies adopted 0y the 0ul6 drug manufacturers in India !is a !is their effect on the 0ottomlines and sustaina0le competiti!e ad!antage 7he directors and other mem0ers of the management of 8nila0 -hemicals !t 9td and Ms Blue -ircle 3ere contacted and inter!ie3ed personally 0y 3ay of semi structured informal inter!ie3s Responses 3ere measured on a ten point scale 7he responses ha!e 0een ualitati!ely analysedInno!ation 1roduct & rocess5 are directly proportional to the gro3th in turno!er & profits Besides,inno!ations pro!e to 0e the 6ey for continued sustaina0le ad!antage and impro!ement of the 0ottom lines7he study ma6es theoretical & methodological contri0ution to the literature for inno!ation strategies inthe 0ul6 drug industry 3hich 3ould 0e useful for the manufacturers Introduction: < literature sur!ey sho3s that !ery less study has 0een conducted in esta0lishing arelationship in 0et3een the inno!ations and the impact on the 0ottom lines in the 0ul6 drug industry9i6e any other industry, Inno!ation strategies in the 0ul6 drug industry can 0e implemented at !ariousle!els4-ompany 9e!el=3ner    '>unctional 9e!el ? >inance , mar6eting, R&+, manufacturing, information systems and humanresource managers)=perational 9e!el@ plant managers, sales managers, production and department managersAro3th is the long run intention of any organisation and is  sine qua non for its sur!i!al Aro3th cycle of a 0usiness has mainly fi!e stages, !i, planning, initiation, penetration, accelerated gro3th and transition $##roaches )lementsSco#e   Chie% Means IC7ECSIVEED<CSI=Croduct, roduct lines &Mar6etithin IndustryMar6etenetration,Mar6et +e!elopment,roduct de!elopment IC7EAR<7I=Croduct, Mar6et,Business <rea<ll@inclusi!eVertical Integration @Bac63ard Integration,>or3ard Integration;2oriontal com0ination +IVERSI>I-<7I=CBusiness <reaithinand outside -oncentric, 2oriontal,indust   ry-onglomerate IC7ERC<7I=C<9B8SICESSroduct, Mar6et,Business area<cross country linesE*porting,>oreignlicensing,directin!estment, etc Inno!ation strategies can 0e aimed at gro3th 3hich can 0e 0y means of any of the 0asic gro3thapproaches 7he gro3th can 0e sustained 3hen a company has a sustaina0le competiti!e ad!antage  especially in the 0ul6 drug industry 3here the technology gets copied relati!ely in ad!ance as comparedto other industries 7his competiti!e ad!antage can 0e deri!ed from t3o 0asic themes !i 1i5 -ompetitor -entered & 1ii5 -ustomer -entered -ompetitor -entered implies deri!ing strategies 0y comparing your  performance 3ith respect to your competitors and for 3hich the B-A, S=7 and finally the financial performance of the competitor is considered -ustomer -entered in!ol!es studying issues li6e the type of  0enefits preferred 0y the customer, inno!ations, customer complaints, comparing the potential !s thee*traction rate of the customer, process analyses, etc 1R Aopal '%%5<s per orterFs fi!e generic descriptions of industries, the 0ul6 drug industry is a mature industry It is theonus of the !arious companies in this industry to tap the mar6ets 0y formulating a com#etitive gro*thstrategy 3hich is its sustainable com#etitive advantage to reflect on the return on in!estments +esearch ,b!ectives 7he research see6s ans3ers to uestions li6e4hich of the inno!ation strategies at !arious le!els 3ould pro!e effecti!e for an Indian companyin the 0ul6 drug industry to gro3'2o3 to formulate a competiti!e gro3th strategyG +oes inno!ation help in de!elopingcompetiti!eness; competiti!eness 0eing measured in terms of turno!er, profits & mar6et shareG)7he study e!aluates the effect of inno!ations on the 0ottom lines +esearch Methodology :47he study employs the popular case study method for assimilation of facts Study of Inno!ationStrategies has 0een conducted in t3o companies namely 8nila0 -hemicals !t 9td and Ms Blue-ircle; manufacturers and e*porters of 0ul6 drugs'+ata 3as collected from the respecti!e industries 3ith regards to the impact of inno!ations on there!enues & profit margins 0y 3ay of personally 0y 3ay of continuous interaction & semistructured informal inter!ie3s 3ith the management of these companies and also interaction 3iththe personnel in their research and de!elopment departments +etails 3ere collected 3ith regardsto t3o 0ul6 drugs !i chlorohe-idine gluconate  cetrimide )Responses 3ere measured on a ten point scale 7he responses ha!e 0een ualitati!ely analysed/eriodicals and magaines on the Indian chemical industry li6e the -hemical ee6ly <nnual and 0oo6s on strategic management ha!e 0een referred for theoretical inputs Limitations o% the study :4Since the study employs the case study method, it suffers from the pro0lem of a small sample sie'< lot of the data is confidential in nature and has not 0een re!ealed 0y the company officials)In a0sence of data some assumptions and proHections ha!e 0een made 3hich may ha!e asignificant effect on the accuracy of the results/7he study is 0ased on the 0ul6 drug industry only Many findings are specific to this industry andhence it is not possi0le to generalise the findings of the study The Indian ulk &rug Industry :  Indian 0ul6 drugs mar6et in '%%$ 3as a0out 8S)'# 0illion, 3itnessing a gro3th of 4#J o!er '%%( at-<AR of 4..4J in the last si* years India ran6s /th in terms of !olume, among the top 4( drugmanufacturing countries 3orld3ide Indian companies ha!e the distinction of de!eloping cost@effecti!etechnologies for manufacturing 0ul6 drugs and intermediates, conforming to glo0al standards India haso!er .% 8S >+< appro!ed plants, the second highest in the 3orldIndian 0ul6 drug mar6et is fragmented 3ith top 4% companies contri0uting //J of the mar6et and a0out4,)') companies accounting for the 0alance ($J Cearly %J of the 0ul6 drugs, manufactured aree*ported to more than (% countries -ontract manufacturing in India in '%%$ 3as 8S+$(.$ million,registering a gro3th of /.J o!er pre!ious year Indian companies ha!e filed /%. +M>Ks during '%%$ outof a total %/ By '%4%, Indian 0ul6 drugs mar6et is proHected to gro3 to a0out 8S$(/ 0illion andcontract manufacturing to 8S+4(0illion7he harmaceutical Industry in India is increasingly 0eing recognised as a relia0le source of ualitymedicines at afforda0le prices and is emerging as a glo0al po3erhouse <s 3e enter the Lno3ledgeEconomy, speedy and efficient e*change of relia0le information 3ill 0e a prime reuirement for theefficient management of our intellectual capital 7he Indian manufacturers of 0ul6 drugs ha!e ta6en thead!antage of the pre!alent economic conditions and ha!e accordingly car!ed their mar6ets +uring thetimes 3hen the import duty 3as as high as 44(J, the Indian 0ul6 drugs 3ere positioned as importsu0stitutes and 3hen the duty fell they ha!e 0ecome e*porters7he gro3th 3hich the Indian harmaceutical Industry has achie!ed is mainly due to the Indian atents<ct, 4#% 3hich 3as one of the achie!ements of I+M< in strengthening the national sector The main Industry $ssociations in India are: 4 ulk &rug Manu%acturers $ssociation India01 <@'/, 'nd floor, Vie3 7o3ers, 9a6adi La ul,2ydera0ad@(%%%%/, 7el : ))''4/' ))4$)'.' Indian &rug Manu%acturers $ssociation I&M$ 5, 4%'@B, oonam -ham0ers, +r<BRoad, orli,Mum0ai @ /%% %4., 7el: '/#/ /$'/  '/# /)%., >a*: #4@''@'/#(%'), Email: idma"!snlcom   idma"idma@assnorg   2 ,rgani3ation ,% Pharmaceutical Producers In India ,PPI0:  esta0lished in 4#$(5 1 eninsula-ham0ers, Around >loor, Aanpatrao Ladam Marg, 9o3er arel, Mum0ai /%% %4), 7el: #4 '' '/#4.4'),'/#4'/.$, $$$'%%, >a*: #4 '' '/#4(4$., E@Mail : indiaoppi"!snlcom  Unilab Chemical  Pharmaceuticals Pvt Ltd:U nila0 -hemicals & harmaceuticals !t 9td is a manufacturing company esta0lished in 4#. It is auality manufacturer of 0ul6 drugs & formulations, <Is 1acti!e pharmaceutical ingredients5, <Iintermediates, uaternary compounds and fine chemicals 7he -ompany specialies in the manufacture of antiseptics and disinfectants 8nila0 holds all necessarylicences and a Aood Manufacturing ractices 1AM5 certificate granted 0y the >ood and +rug<dministration, Maharashtra State 'ead ,%%ice $ddress : 4%4%. <nHani -omple*, lot Co )4$, arera 2ill Road, =ff <ndheri@LurlaRoad,, <ndheri@E, Mum0ai @ /%% %## India Plant $ddress:  @ )', MI+-, hase II, +om0i!li 1East5 /'4 '%/, India ankers: Industrial +e!elopment Ban6 of India 9td, +amle Building, had6e Road, BaHipra0hu -ho36,+om0i!li 1East5, Mum0ai /'4 '%4, India Satis%ied customers include : Ala*o, -adila, -ipla, Nohnson & Nohnson, Ran0a*y 9a0oratories, Emeraldsharma, E@Merc6, Rhone oulenc, Bengal -hemicals, <stra I+9, Vam =rganic, Manisha harma,2ipoten Biochem, >+-, Super >ine 9a0s, Ao!ernment 2ospitals Ma!or com#etitors : &ishman Pharmaceuticals and Chemicals Limited. Bhadr@RaH -ham0ers,-A Road, Ca!rangpura,<hmeda0ad @ ).% %%#,AuHarat, IC+I< M/s lue Circle Ltd.: Blue -ircle has three strong manufacturing sites located in the industrial 0elt of 7hane, ha!ing close pro*imity to Mum0ai Net -hemicals !t 9td 1N-95 incorporated in 4#$# is the oldest unit 0uilt o!er anarea of 4'%%% S Mtrs Blue -ircle Speciality -hemicals !t 9td 1B-S-95 incorporated in 4#.#,occupies an area of )%%% S Mtrs Blue -ircle =rganics !t 9td -ame into 0eing in Nuly '%%/ 7heyha!e a strong presence in the glo0al mar6et 3ith their e*pertise 0eing


Aug 6, 2018
Similar documents
View more...
Related Search
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks