Globally, India is the largest provider of generic drugs and supplies more than 50% of the global demands for a large number of vaccines, 40% of generic medicinal demands in the US, and 25% of all kinds of medicines in the UK. Standing 3rd in the category of pharmaceutical production by volume and 14th by value globally, India’s domestic pharmaceutical industry consists of a network of 3,000 drug companies and about 10,500 manufacturing units. India is enabled by a significant pool of scientists and engineers who can potentially propel the country to greater heights.

Steering the country ahead in similar ventures is Cosworth Biocare, a privately held pharmaceutical company in India, which is widening the range of products offered to industry by adding into the traditional forms. Focused strongly on Innovation and Research, the company is present in many areas spread across the specialties, including gastrointestinal, haematinics, multivitamin, anti-infectives & antibiotics, and immunologicals. Its products are the result of hard work and deep commitment to creating a healthier world.

Raj Kamal, Managing Director, is confidently guiding the company to establish Cosworth Biocare as the best pharmaceutical company, in terms of expertise, innovation, and responsible entrepreneurship, by providing high quality, affordable and innovative solutions in medicine and treatment.

Pharma Industry Outlook engages in an exclusive interaction with Raj Kamal where we discuss the company’s growth and its journey. Here’s the snippet from our interaction with Raj Kamal.

How do you see the global pharmaceutical manufacturing market evolving in India? What are the major factors driving the growth of this market?

I've been carefully observing the Indian pharmaceutical market over the past five years. In terms of pharmaceutical products, India holds an important position in the global pharmaceutical sector. The major factors of its growth are cost effective manufacturing approaches advancement - which is amongst the leading reasons. Apart from that, the cost of manufacturing pharmaceutical goods in India is much lower in India. Moreover, India has a highly skilled workforce which is a result of technological advancements with a wide marketing and distribution system. The sector is additionally strengthened by a diversified ecosystem that is present here when compared globally.

What are the major expectations of clients from pharmaceutical companies? How do you meet those expectations?

The expectation is very simple. Clients expect us to deliver quality products at affordable prices. Likewise, we have carefully priced our products which are pocket-friendly. We also ensure a zero tolerance policy with regards to quality enabling us to produce products of the highest standards. At the core of it, we believe that you cannot make a mark without having a strong foothold on quality. Hence, from day one we have made it our mission to only produce products that adhere to the best in class quality.

Can you elaborate on the range of products you offer to your customers and also tell us the factors that differentiate your products?

Our products are the result of our hard work and deep commitment to creating healthier worlds. Our products are spread across the specialties, including gastrointestinal, haematinics, multivitamin, anti-infectives & antibiotics, and immunologicals. We have collaborated with some of the industry's most reputed manufacturers who are strongly focused on innovation and research. Apart from ISO and WHO, our products are further certified by GMP and GLP that ensure the effectiveness of the products we manufacture.

A satisfied customer is the best business strategy at all. So, we put customers, not convention, at the heart of competitive strategy

Raj Kamal, Managing Director

Tell us about the overall journey of the company since its inception

Coming from a rural area, I was aware of the pain and difficulties of costly, non-accessible medicines. To address that pain point, I apprised myself of the industry first. Technical registration and licensing was the first step. While some of the processes seemed impossible at first, looking at the companies who were already successful in managing them was an encouragement. We are present in the entirety of Bihar, with presence in the remotest parts. In this competitive market, we have managed to have positive cash flow and constant growth in terms of revenue and with time, our team quality and size have also evolved.

What are the major factors that differentiate you from the other players in this segment?

We follow some simple steps which are often ignored by many companies. For instance, we track constantly and adapt quickly. Additionally, we have dedicated Cloud space for FSOs who work as representatives and that also goes for our managers as well. This helps everyone have information available at their fingertips all the time. From the get go, we have designed clear and transparent SOPs for our representatives and managers.

Can you tell us about your current projects and your future expansion plans?

Our plan is to continue our good work and prioritize trust as that is a core component of our company. We are also building a unique culture that matches our strategy - having a differentiated culture to attract and retain the right staff is crucial which is why we offer the best incentives in the industry. Also, we are planning to scale the company in a faster and broader manner with plans of investing more in enterprise resource planning, system automation and Cloud.