Tarun Tyagi

Managing Director

The global distribution and sourcing market was estimated to be worth $6074 million in 2021. However, it is now projected to increase to $13180 million by 2028, with a compound annual growth rate (CAGR) of 11.70 percent. A multifaceted company, Greencross Export has been actively offering business development and distribution activities for the pharmaceutical industry since 2003. Led by Chairman and Managing Director, Tarun Kumar Tyagi, Greencross Export is built upon the experience of seasoned industry veterans in extension to solutions backed by advanced technology. The firm is on a trajectory to become one of the top service and distribution companies for pharmaceuticals globally. We recently engaged in a one on one interaction with Tarun Kumar Tyagi, Managing Director, Greencross Export and his team, here are some highlights from our interaction.

Greencross Export has achieved great recognition, whom would you credit this success to?

Without the confidence my mother instilled when I was young and the freedom my wife gave me to work on my job, I would not have been able to achieve what I have in my career. O P Arya and G R Sethi (in ALIDAC) laid the foundation for my professional career. At the age of 27, Dilip Shanghvi took a chance and offered me the opportunity to join Sun Pharma as the youngest regional manager. Thanks to S. Raju, KV Oseph, Deepak Mehra, Srinivas Lanka, and TK Roy for helping me out while I was working at Sun Pharma.

Last but not least, Edna Braganza from Orchid Chemicals & Pharmaceuticals for giving me the chance to serve as the head of operations for Russia, Belarus, Ukraine, and CIS nations and Ilsur Gynev from Pharm Project Moscow. Sudhir Vaid, Chairman of Concord Biotech, is especially appreciated. My initial exposure to business was due to him and he sowed the seeds of business. He is a tremendous inspiration who has always stood by me during my early difficult times and continues to be a source of much-needed advice for me and is always willing to assist me.

Tell us about Greencross Export and how the journey started and how has it been so far for Greencross Export?

The early years of Greencross Export (GCEPL) were difficult for the company. In 2003, I had just left my position as chief of operations for Russia, Belarus, Ukraine, and CIS at Orchid Chemicals & Pharmaceuticals. I simply took a chance and moved through with my preparations to open for business. I did not come from a family of business owners, or had prior business experience. Typically, businesses initially enter the domestic market before easing into the global one but we started off in the global market.

International markets have entirely distinct costs and risks, and all projects are time consuming. I observed numerous shifts occurring in the pharmaceutical industry from demand supply gap to the ethical marketing and further to localization of API but the majority of manufacturers were operating in a conventional manner and were not prepared to embrace the change. Convincing Indian pharmaceutical producers of the value of business development services was the main obstacle. Since the API and Excipient business was only perceived through the lens of sales, many Indian companies did not even grasp the concept. I, however, coming from a background in formulation, saw this business from a different perspective. I was aware that a sustainable API business could not operate in any market without a flexible strategy, aggressive promotion, and a demand for value. Thankfully for my business, my son Parichay returned from the UK in 2014 after finishing his biotechnology studies there. That helped me arrange my internal structure in India, and starting in 2014, we saw tremendous growth in our business.

What are the key facets that differentiate your company from other companies.

At Greencross Export, we work differently than other distributors and traders since we genuinely offer business growth services instead of solely pushing sales. By the provision of services like proactive marketing and promotion, regulatory compliance, logistical solutions, and developing the name & image of manufacturer in the market, we provide a platform for our affiliated partners.

Where do you see Greencross Export heading in the coming future years?

For business distribution and development services in Russia, Belarus, and the CIS, we aspire to rank among the top three regional businesses. In the third quarter of 2023, we want to establish a representation office in Uzbekistan and Kazakhstan.

We have a positive outlook on Russia, Belarus, and the CIS nations since we are aware that every crisis offers a variety of opportunities. As soon as the Russian war started, the shortterm players abandoned the market but we on the other hand are very much optimistic about Russia, Belarus and CIS countries. Excipients, color coating, impurities-standards, and packing material are the new additions to our portfolio of industries. We forecast a three-fold increase over the ensuing three years.

Additionally, we have plans to grow in the Middle East and Latin American areas. By 2030, we hope to have offices in all of the major cities in the aforementioned regions, transforming our business into a global distributor.

What are the expectations of your clients from Greencross Export?

Your customers' expectations increase as you offer them highquality services. To meet all of their expectations, we have established effective follow-up systems. On one hand, our back-end office in India enables us to obtain all necessary data from Indian manufacturers, and at the other end our highly qualified team in the Moscow office supports the development of business from Russia, Belarus, and CIS nations.

What are the key strengths of your company?

Our committed and sincere workforce, as well as wise planning, daily, weekly, and monthly implementation of activities using selected systems and company-designed SOP, are our company's greatest assets. We are a processoriented company and believe that if the process is completed wholeheartedly then the results will definitely come.

What is your company's vision and mission?

In the ensuing ten years, we want to expand worldwide, help Indian pharmaceutical makers, and give them a platform for doing business abroad. We also intend to establish stock locations, offices, and a European-standard warehouse near every port in India to assist our activities.

Since we believe that only a small number of Indian companies have been able to establish their own Global presence, our mission is to build a platform where Indian companies with excellent facilities and a global perspective can connect with the rest of the world and genuinely create a global image for themselves.

What are the main projects that Greencross Export is currently involved in?

Nowadays, Greencross Export is active in the following pharmaceutical segments. With a portfolio of over 700 APIs and representation of Twenty five manufacturers or so pharmaceutical companies, we are well-established in the API area. We recently expanded our product line to include excipients, color coatings, impurities, standards, and pharmaceutical packaging. We've already finalized the first round of R&D testing and qualification of products manufactured by our Indian partners with our main Russian and CIS manufacturers. In 2023–2024, we anticipate the commercialization of all four segments, which will then significantly increase business from 2024–2025.

In FY 2023–2024, Russia will continue its localization initiative. We intend to add intermediates, and we are also finalizing strategic partners in India who are very interested in the localization program of Russia for the oncology, antiviral, anti-TB, neurology, and psychiatry segments by providing API and Formulations tech transfer and then establishing API plants in Russia.