Mankind Pharma, one of the largest and fastest growing pharmaceutical companies is on an aggressive growth path to achieve domestic revenue of Rs. 5000 crore from Rs. 3,400 crore by the end of 2016. Moving ahead on the expansion spree, the company is also looking to enhance its presence in the US in the next 18 months while expecting revenue generation of $150 million from the International market by 2030. The firm is planning investment of Rs. 150 crores in the manufacturing unit at Paonta Sahib in Himachal Pradesh.
Keeping an eye on the future growth drivers and to place itself among the top three pharmaceutical companies of India, its focus is on chronic segments, nutraceuticals, cosmetology and newer markets to attract global business. The company is also planning to launch patented drugs of multinational pharma companies in the Indian market and has started exporting its products to developing markets, including Asia & Africa. It has witnessed an average growth of 20-25 per cent for the past five years.
In a recent market reflection report by the IMS Health ranked Mankind Pharma 4th in the Indian Pharmaceutical Market with 18% growth and monthly sales of Rs. 240 crores.
Mr. R C Juneja, Chairman and Founder, Mankind Pharma, commenting on the achievement said, "With an inverted business model, innovation and continuous research and development, we have successfully achieved the prestigious reward. We are identifying overseas markets, have entered new segments and are strengthening ourselves in the cardiovascular and anti-diabetic drug categories. The API factory that we are coming up would focus on enabling the company to make cheaper drugs. The API facility is a step to promote affordable drug manufacturing in India where a third of the population has no access to medicines."
With an annual growth of 18%, Mankind Pharma has an annual turnover of Rs. 3,400 crore in the fiscal year 2014-2015 up from Rs 4 crore in fiscal Year 1995-96. In the last 10 years, Mankind has grown at an average of 30%, against an industry average of 12%. Presently the company has an employee base of more than 12,000 with one medical representative for every 200 doctors in the country.
In regards to the present scenario, the company has over 1,000 brands spanning medicines categories such as antibiotics, antifungals, gastro intestinal, cardio vascular dermals and etc. As per the industry estimate, the cardiac segment has grown 26% and so have anti- diabetic and VMS (vitamins, minerals, supplements) categories, by 24% and 23% respectively. Mankind's focus on ‘dermatological products' has resulted in its entry into the Top 10 category's with a value of Rs. 135 crore and a growth of 40%.