#startupoftheday 111- Ikris Pharma Network

Inception- 2014

Location- Noida

Domain- Pharma service

Founder- Praveen Sikri

Total team strength- 15

Total funds raised- Self funded 

Investors- NA

Revenue generated since inception- NA

Key highlights-

• A first-of-its kind venture that ensures that patients get the most advanced treatment/medicine options available anywhere in the world at a given point in time
• Facilitated access to some of the latest and hard-to-get medicines for more than 5000 patients in cases where the required medicines were not available or approved in their home country.
• Forged exclusive tie ups with 3 US-based companies for providing access to their medicines to Indian patients. These are Biomarin Inc., PTC Therapeutics & Recordati Rare Diseases
• Helped more than 60 Duchenne muscular dystrophy (DMD) patients to be part of Global Clinical trials and access continued treatment even after coming out of the trials. Such treatment otherwise would have cost more than Rs 4 Cr per annum for one patient
• Ceaselessly campaigned for raising awareness, timely diagnosis and effective treatment of rare diseases particularly DMD, Hepatic Porphyria and Nephropathic Cystinosis, among others
• At the forefront of Managed Access Program (MAP) in India, mainly through the access mechanism of Named Patient Supply or by way of Company-initiated MAP
• Providing similar access to Indian generic pharmaceutical products to patients outside India, mainly to LATAM & African countries
• To expand its global reach by further networking with patients’ help organizations and advocacy groups
• To expand its footprint by providing Reference Listed Drugs (RLD) to pharmaceutical companies for developing generic substitutes for US & European markets. To have a separate division within the organization to focus & enhance capabilities in this area
• Focused on Business Process Excellence (BPE) with an eye on scaling up and making the company a $20-25 Million enterprise in the next 3 years

Founder Speaks- 

"There is huge opportunity to provide value addition in this segment. Every year 40-45 new products get approved in US/Europe with life-changing potential for the patients. On an average, it takes about 5-6 years to get these products available in India. So at any point in time, there are more than 200 newly-launched products which remain inaccessible for the Indian patients. 

India has been in the vanguard of providing generic products to Europe and US. All companies need Reference Listed Products (RLD) for developing such products for high potential markets. Facilitating access to RLD is an extension of the niche business that Ikris is involved in. In fact, this market is more than 10 times of the named patient market. We are very positive on this whole segment. Essentially, the key to success is compliances, global supply network and authorizations." 

- Praveen Sikri, Chief Executive Officer, Ikris Pharma Network