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Innovation in Bulk drug Industry

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Innovation in Bulk drug Industry
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  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

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Aug 6, 2018
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