In a short span of four
years, RFCL has seen an upward growth curve, and has overachieved
The 100 percent ICICI Venture owned, RFCL covers
the expanse of life sciences industries through its strategic business
units like Diagnova for diagnostics and biomedical Sciences; Vetnex for
veterinary healthcare and Rankem for scientific laboratory solutions.
The fourth strategic business unit, Neosynth is dedicated to partner
research and development initiatives. It has registered a revenue of Rs
92.21 crore in fiscal 2008–09 as against Rs 34.04 crore in
Recently, ICICI Venture Funds Management sold the animal healthcare
division of RFCL to Pfizer Animal Health for an undisclosed amount.
“VHL saw a lot of capability enhancement over the last year
with 100 percent year over year (YoY) growth in exports. With our
product portfolio we could have made inroads into regulated and
semi-regulated markets, but entry into regulated markets in different.
That along with strengthening the product pipeline in next 5-7 years
thus shifting the focus from treatment to preventives was what prompted
us to partner with a strategic investor such as Pfizer,” said
Sushil Mehta, managing director, RFCL.
Talking about the growth drivers Sushil Mehta
said, “Genomics and proteomics and the reagents and chemicals
business have been showing consistently good growth. It’s
encouraging to know that we have closed yet another year with a 40
percent growth over last year. Increase in the R&D spend and
product development in other allied industries, India’s
dominance in the CRO sector and the increased spending on
healthcare by people are also factors that are boosting our
growth.” All the three verticals in the
company have shown double the market growth rate, with Rankem
showing three times the market growth. The company ranks amongst the
top three companies in its animal health and lab solutions business and
makes it to top 10 in the diagnostics business.
In July 2007, RFCL acquired Wipro Biomed, a biomedical, health and life
sciences company that strengthened its Diagnova business. January 2008
saw the acquisition of Godrej Medical Diagnostics
(infectious diseases portfolio) and Alved Pharma and Foods
that complemented Vetnex. RFCL announced its first global acquisition
in the space of veterinary healthcare through a share purchase
agreement with Marsing for its Germany-based subsidiary company Bremer
Pharma in March 2008. RFCL has a manufacturing plant in
Sidcul, near Haridwar, which spreads across 91,000 sq.ft built-up area
with a capacity to manufacture 10 million tablets, three million
dosages of liquids and 12 lakh dosages of powder injectables. The
company also set up a laboratory chemicals manufacturing
facility in Panoli, Gujarat, to cater to the demand from western India,
for which it is looking at alternate investment strategies.