Mundipharma to introduce new products in Philippine market
PHARMACEUTICAL company Mundipharma Distribution GMBH will soon release new products, including pain management and respiratory medication, in the Philippines, as part of efforts to broaden its reach.
Known for its pain management, oncology, emesis and respiratory medications, Mundipharma will introduce seven products under the Betadine brand, including a dry powder spray for wound care, a throat spray, a daily feminine wash, and a nasal spray which claims to “shorten the duration of colds.”
The company will also release a respiratory drug that will combine asthma and allergy medicine, and an abuse-deterrent opioid, which is used for pain medication for post-surgery and cancer patients. The new products would increase the company’s portfolio to 24.
“First, we work on what’s the right product for that market. We’ve got Betadine in sachets because that’s what people could afford at sari-sari stores when a consumer walks in. He or she may not be able to shell out P100 or P200 or P300, maybe a person could shell out about P50,” Mundipharma CEO Raman Singh said.
Mr. Singh noted the Betadine sachet is only available in the Philippines, its biggest Asian market.
Mundipharma Country Manager Gerry S. Arnedo said the company is looking to expand its products and distribution in the Philippines, as the growing economy spurs consumer spending. He added Mundipharma may add opthalmology products in the Philippines soon.
Mr. Singh acknowledged that market growth has slowed in the United States and Europe, prompting the company to shift its focus to emerging markets.
“We realized that the US and Europe has stagnant or low single digits growth whereas you compare to the developing world — Asia, Middle East, Africa, Latin America — has been growing more of 20% for us so that’s why a lot of investments has been routed [here],” he said.
At the same time, Mr. Singh said Mundipharma is partnering with tech companies to use virtual reality and augmented reality as a tool to teach both doctors and patients how to properly use medicine, as well as develop technologies to measure the patients’ diagnostics in real time to “revolutionize how pain is looked at.”
Despite expanding its distribution reach, Mr. Singh said there are no plans to build manufacturing facilities in the Philippines.
“We’re able to provide better-priced medicines when you have centralized manufacturing facilities. There is no plant here, but we’re trying to find way to make our manufacturing a whole lot more efficient. But some of the products, we locally manufacture. When we can, we locally manufacture.” Mr. Arnedo said.
Zuellig affiliate Interphil Laboratories, Inc. in Cabuyao, Laguna, is currently manufacturing the company’s products. —