What you can tell us about your Oncology Products to be launched on January 1st 2022. How big is the opportunity in domestic market? Medicamen has been exporting pharma products right from its inception since 1996. In one of the major developments, we have recently established a US compliant ONCO formulation facility at Haridwar, and have strategically chosen to launch oncology products in the domestic market. We are quite enthusiastic and passionate to offer global quality oncology products for patients in Indian market where we want to ensure that each patient get global quality product with affordable price which will help to reduce his burden of “Out of Pocket Expense” in getting “Quality Cancer Care” with affordability. We are entering in domestic market with our focused approach in Oncology space with novel targeted therapy in treatment of Solid Tumors and Hematology Cancer in the month of January 2022.
Total domestic market size for Oncology Drugs is Rs 5000 crores approximately with 5-year CAGR (expected growth) of 12%. The current annual overall segment growth is only 7% because of nationwide lockdown during Covid-19 pandemic. Target therapy is the current market driver which contributes to 50% of market pie in total oncology markets where our focus is and today it drives growth of 12.5% which is estimated to grow 20% plus in next three years in the domestic market space.
Please note, MEDICAMEN Biotech Limited (MBL) is committed to providing quality medicines at an affordable cost through relentless pursuit of excellence in its operations, product quality, documentation and service.
What are the key growth drivers of your company?
First and foremost is the combination of Products and Technology backed by experienced R&D human resource coupled with patient centric approach with affordable & Quality Cancer products which goes by our mantra of Quality Cancer Care!
Second is to Develop and Launch products in targeted therapy segment in cancer having high incidence like Breast, Lung & Hematological Cancers.
Leading the way to launch 1st Indian branded generics in oncology with in-house R&D, API & Manufacturing Expertise Domestic as well as South-East Asian markets.
We believe our strengths are aligned with the growth opportunities. The growth drivers are in place and we have the right capabilities to tap the opportunities.
What are your expansion plans in coming three years?
I have already mentioned that we have recently completed capex for Oncology formulation plant at Haridwar. Currently the plant is under product validation stage. The product launch got delay by one year because of COVID. We see our next leg of growth coming from oncology segment from regulated markets where we shall be filing at least two ANDA next year. Apart from this, we have developed 10 products in R&D for regulated market specially for Australia and EU. Supportive care in Oncology is also one of our focus areas to develop and manufacture products for managing side-effects caused by chemo-therapy drugs treatment.
How big is your R&D spend?
We have established a state-of-the-art R&D in the year 2018 by spending Rs 15 crores in 6000 sq.ft. area at our Bhiwadi campus. Today we have a team of 60 experience scientist under the leadership of Dr. Akshay Kant Chaturvedi. Dr. Chaturvedi has experience of working with Shilpa Medicare, Granules India and Dr. Reddy’s Lab. During this current financial year, we have spent another Rs15 crores in R&D by expanding it into 12000 sq. ft area. We have got the best-in-class equipment’s in our R&D which is approved by DSIR. The R&D team in fully capable of handling para-4 filing. I must emphasis R&D is our core strength.
What are top three strategic Initiatives at this point of time?
We have adopted a focused approach to achieving our growth objectives. Following are our top three strategic initiatives at this point of time:-
1. Transform lives of cancer patients by increasing access to affordable – global quality products in India
2. Leveraging R&D Capabilities to innovate drug delivery systems for improving Compliance and Quality of life in cancer patient and to develop novel targeted therapies with fast pace.
3. Filing core products ANDAs in Oncology
What are the key risks facing your internal growth objectives?
1. Due to current pandemic scenario the overall cancer therapy market growth is lower which will take next 1-2 years to stabilize.
2. The procurement process for new hospital formulary is extended due to pandemic still old products are continued.