WE ARE WIT­NESS­ING A VI­BRANT AND EN­ER­GETIC BUSI­NESS GROWTH IN IN­DIA

BioSpectrum (India) - - Bio Contents - Dr. Richard M. Eglen Vice Pres­i­dent and Gen­eral Man­ager, Corn­ing Life Sci­ences (CLS)

The re­cent statis­tics in­di­cate that the In­dian phar­ma­ceu­ti­cal mar­ket is cur­rently val­ued at USD25 bil­lion and is ex­pected to fur­ther grow at a CAGR of 12 per cent till 2020. In­dia is the third largest phar­ma­ceu­ti­cal mar­ket in the world by in­cre­men­tal growth and sev­enth largest by vol­ume, which gives a plethora of op­por­tu­ni­ties for many life sci­ences com­pa­nies. With In­dia’s pop­u­la­tion ex­pected to reach 1.4 bil­lion in 2022 (as per the 2015 UN Re­port on World Pop­u­la­tion), this grow­ing pop­u­la­tion de­mands not only large scale pro­duc­tion of vaccines but also re­search for newer vaccines rel­e­vant to In­dia and im­munother­apy. In or­der to meet the grow­ing de­mands of the denizens of the coun­try, Corn­ing Life Sci­ences, one of the lead­ers in de­vel­op­ing, man­u­fac­tur­ing and global sup­plier of sci­en­tific lab­o­ra­tory prod­ucts for over 100 years, has rolled its sleeves to achieve its goal. Out­side of US, In­dia and China are two of the big­gest mar­kets for Corn­ing Life Sci­ences (CLS). In a re­cent con­ver­sa­tion with Bio Spec­trum, Dr. Richard M. Eglen, Vice Pres­i­dent and Gen­eral Man­ager, Corn­ing Life Sci­ences (CLS), and Pres­i­dent, Corn­ing In­ter­na­tional Emerg­ing Mar­ket, re­vealed the ex­pan­sion plans of CLS and how the com­pany is gear­ing up to achieve its goal.

How does Corn­ing Life Sci­ences see the Asian phar­ma­ceu­ti­cal mar­ket as one of the prom­i­nent do­mains to carry out its busi­ness op­er­a­tions?

One of the ma­jor rea­sons why we have en­tered the Asian mar­ket is the rapid growth in the phar­ma­ceu­ti­cal mar­ket; that, cou­pled with the rate at which the pop­u­la­tion is grow­ing, which is higher than any other con­ti­nent. This rapid growth in pop­u­la­tion is cre­at­ing a great de­mand for new types of medicines and also al­low­ing us to bring a wide range of our prod­ucts in this lu­cra­tive mar­ket. Another rea­son that brought us here is the boom­ing mar­ket; if you com­pare the growth in Asia to USA’s mar­ket, it is al­most twice of Amer­ica.

As we de­velop new prod­ucts in life sci­ences, we felt that these are also per­fectly carved to ad­dress the needs of the Asian mar­ket. Cur­rently, our ma­jor fo­cus is on In­dia and we our plan­ning to surge our vac­cine pro­duc­tion which is in great de­mand.

Do you con­sider In­dia as one of your ma­jor plat­form to boost your busi­ness?

Yes, In­dia is a very im­por­tant do­main for us, which is why we have in­vested in life sci­ences busi­ness here. I can­not re­veal the specifics of the in­vest­ment but to give an over­view, we have in­stalled a ware­house in In­dia for our prod­ucts; we have also done some ma­jor ac­qui­si­tion in­clud­ing the ac­qui­si­tion of Bec­ton Dick­in­son’s Dis­cov­ery Lab­ware busi­ness in 2012. And we are con­tin­u­ing to bring its prod­ucts in In­dia’s phar­ma­ceu­ti­cals, biotech and CRO mar­ket.

How is your busi­ness growth in In­dia?

We are wit­ness­ing a vi­brant and en­er­getic busi­ness growth in In­dia. In fact, our growth in In­dia is about six to seven per cent, which is around 1.5 per cent faster than our growth in other coun­tries. The other fac­tor that at­tracted us to In­dia is strong in­ter­est in emerg­ing tech­nolo­gies, par­tic­u­larly in the vac­cine’s pro­duc­tion and po­ten­tially as it moves in to stem cell and im­munother­apy. Since Corn­ing Life Sci­ences is a 100-year-old ven­ture, when we look into the new mar­kets to ex­tend our prod­uct ser­vices, In­dia is one of the lu­cra­tive and fastest grow­ing ar­cades for us.

What are the key el­e­ments that you are fo­cus­ing on in the Asian mar­ket?

Specif­i­cally in Asia, our goal is to bring our wide range of prod­ucts to this mar­ket, in­clud­ing bio­pro­cess vac­cine pro­duc­tion. At Corn­ing Life Sci­ences, we have a broad range of prod­ucts cov­er­ing all the ar­eas of life sci­ences re­search, for in­stance, Ge­nomics, DNA test­ing, drug dis­cov­ery and drug screen­ing etc. So if we add all of that, our prod­uct range en­ables us to serve all the dif­fer­ent ar­eas of phar­ma­ceu­ti­cal and biotech­nol­ogy re­search and also the grow­ing CRO mar­ket.

What are the ma­jor chal­lenges you faced when you ven­tured into the Asian cor­ri­dors?

The ma­jor chal­lenge was to beef up the sup­ply chain so that we can have a strong distri­bu­tion chan­nel. This is one of the rea­sons why we in­stalled a ware­house in In­dia. Given the wide range of prod­ucts that we have, sup­ply chain, distri­bu­tion and cus­tomer sat­is­fac­tion are our first pri­or­ity. We faced lo­gis­tics prob­lems in China as well; learn­ing lessons from China, it was a lot eas­ier for us to suc­cess­fully install our busi­ness here in In­dia. Last year, we opened a distri­bu­tion ware­house in Liu Xiang, China, and that en­ables us to run a smooth distri­bu­tion of our prod­ucts in Asia.

In­dia’s pop­u­la­tion is scal­ing up rapidly so what are your plans to main­tain a smooth sup­ply chain for this swiftly grow­ing pop­u­la­tion?

Our goal is to do three things, one of which is to have ad­e­quate prod­ucts to cater to the needs of our cus­tomers. The other thing that we see is of new ther­a­pies such as stem cell ther­apy, im­munother­apy emerg­ing to ad­dress the needs of this grow­ing pop­u­la­tion. We have de­vel­oped new prod­ucts in this area. The other piece we have done is that we have de­vel­oped prod­ucts that en­able our cus­tomers to be more ef­fi­cient in their bio-pro­duc­tion, which means op­ti­mally util­is­ing their work­flow and space.

Can you elab­o­rate on the steps taken by the firm to nur­ture the im­munother­apy in In­dia and also throw some light on Serum Free Cul­ture Me­dia prod­ucts?

Im­munother­apy is rapidly grow­ing in the mar­ket and cur­rently it is in great de­mand. In Me­dia Serum Free, the con­tam­i­na­tion level is very low so it is the most op­ti­mum so­lu­tion to re­place cells. The other point which is worth men­tion­ing is that sur­face area is very im­por­tant to grow the cells on and the more cell you grow on the sur­face area, the more ef­fi­cient your pro­duc­tion be­comes. We have scouted many tech­nolo­gies to help our cus­tomers to do that.

Dr. Richard M. Eglen Vice Pres­i­dent and Gen­eral Man­ager, Corn­ing Life Sci­ences (CLS)

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