Harsh Bal - MDI Gurgaon Invited Seminar - 17 Dec 2012


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Harsh Bal - MDI Gurgaon Invited Seminar - 17 Dec 2012

  1. 1. Challenging Healthcare Barriers GloballyGrowing Successful Companies – A Pharma Perspective Harshawardhan (Harsh) Bal, M.Pharm., PhD SVP - Business Development & Strategy Promed Group 17th Dec 2012 Management Development Institute (MDI), Gurgaon www.promedgroup.com Confidential & proprietary; not to be reproduced without permission. All rights reserved. 1
  2. 2. Agenda• Brief intro• Enterprise maturation & evolution – A Pharma perspective• Promed Group • Business overview • Mission and vision • Product categories • Differentiated strategy to build a global pharma co • Global strategy - US entry • Growth strategy - Russia & India • Corporate Social Responsibility • Value proposition & summary • Contact info• Q&A www.promedgroup.com 2
  3. 3. Brief bioFrom science to the business of scienceAbout me To do• M.Pharm. in Pharm Tech, Dept of Pharmacy, Nagpur U • Know what you want early• Work-ex (NPIL, USV, Mumbai; formulation R&D) • Build industry connections• PhD. Molecular Biology (National Inst. of Immunology/JNU) • Network aggressively (LinkedIn, • Targeted therapies for cancer using Ab-toxin conjugates local events, etc.)• Post-doctoral fellowship • Research industry trends • Univ of Rochester Medical Center, NY (Gene therapy) • Invest in companies • Cold Spring Harbor Lab, NY (Genomics & Bioinformatics) • ...• Dana-Farber/Harvard Cancer Center, Boston – Signaling pathways + target discovery in HIV/AIDS & HTLV/Leukemia Review questions• OSI Pharma (now Astellas Pharma), NY - Novel protein family • What are your near/LT goals? target discovery based on human genome sequencing • What are your core• Millennium Pharma (Takeda Oncology), Cambridge, MA competencies? • KM (managing org. memory on proprietary genes, drugs) • What is your ideal company?• Booz & Co. (NY & Rockville, MD) – Strategy + mge consulting • What is your ideal role? • Pharma/Biotech + federal consulting (BMS, NIH, USFDA) • Do you want to gain experience• Avendus; MAPE Advisory, Mumbai – I-banking (M&A, PE) first or be an entrepreneur?• Stem Cell Capital, US - Cross-border i-banking; BD+consulting • …• Piramal Healthcare, US – Head of Global API business• Promed Group, Gurgaon – Head of Global BD & strategy Cross-cutting skills, cross-domain experience Drug discovery Strategy BD&L Entrepreneur/ I-banking R&D consulting (Corp Dev.) VC? www.promedgroup.com 3
  4. 4. Enterprise maturation & evolution curve To do • Identify industries of interest to you – Pharma, IT, infra, ... • Research start-ups, growth phase & mature cos • Trace their growth and evolution over last 5-10 yrs • Identify incremental and disruptive trends/innovations • Correlate stock trends with events wherever possible Review questions • What were their growth strategies? • What were the trends/ innovations that shaped their evolution? • How did they differentiate? • Are they competitive today? • What should they do in next 5 and 10 yrs? Single therapy focus Multiple therapy focus - Specialty pharma cos - Full product portfolio Global diversified fully - Core expertise - Diversification integrated enterprise - E.g., Promed - E.g., Piramal www.promedgroup.com 4
  5. 5. About Promed • Ophthalmology focused specialty pharmaceutical company established in 1990 and headquartered in Gurgaon • Fully integrated pharma co with full formulation R&D, manufacturing and marketing capabilities • Global presence with established footprint – • Russia, Kazakhstan, Ukraine and India • #2 position in the ethical ophthalmology segment after Alcon • Four brands amongst top 15 ophthalmic brands in Russia • Deep market penetration and directly cover ~100 biggest cities in Russia • Provis India (wholly owned sub) fastest growing ophtha co in India • Strong presence in >45 cities and expanding in South and West India • Strong focus and developing business in US, EU and Australia • Develops, manufactures and markets a wide range of products – • Ophthalmic, respiratory, otic, and wound care solutions • Regulatory approvals from EU-GMP, TGA-Aus; USFDA audit expected Q12013 • Current revenues at USD 45 Mn and growing at ~20-25% yoy www.promedgroup.com 5
  6. 6. Corporate goals Vision Mission • To be recognized as a research-based • To provide innovative products through global company offering a complete persistent research and development range of ophthalmology and ENT products • To become a leading pharma company known for manufacturing difficult to make products by continually introducing advanced technologies • To create mutually exciting strategic alliances and opportunities for our stakeholders • To become a preferred employer in the pharma sector 6 www.promedgroup.com
  7. 7. Promed Business Overview Promed Promed Research Group Centre, Gurgaon Regulated Contract Markets Russia & CIS Provis (India) manufacturing (US/CAN, (Nalagarh, HP) UK/EU) Generic & differentiated CMO Services products 7 www.promedgroup.com
  8. 8. Product Categories Ophthalmic Formulations - Multi dose solutions & suspensions - Specialized capabilities (preservative free UDs) Respiratory Care (for nebulization) - Inhalation solutions - Inhalation suspensions Indications/uses Wound Care • Anti-inflamm/NSAIDs - Sodium chloride irrigation solution • Anaesthetic • Artificial tears/dry eye • Anti-glaucoma ENT Care • Anti-infective+anti- - Nasal drops inflamm combos • Mydriasis (for myopia) - Ear drops • Nutrition www.promedgroup.com 8
  9. 9. Differentiated strategy to build global pharma companyPhase 1 – Achieving ophthalmology segment leadership Russia US/Canada • New product development • Pharmacy chains • In-licensing of products • Distribution partners • New TAs (ENT) • R&D partnerships (P4, 505b2) • Acquisitions UK/EU India ROW • Cos with products/ANDAs • Licensing (Big 5) • Inorganic growth • Partner with local • Formulation development • CMO contracts • Licensing/M&A companies • Brands • Cos with FF www.promedgroup.com
  10. 10. Differentiated strategy to build global pharma companyPhase 2 – Achieving multi-specialty depth; focus on India, Russia & US India Russia US/Canada • New TAs • New therapy areas • New therapeutic areas • New segments • New segments • New segments • Licensing/M&A • Licensing/M&A • Licensing/M&A • Brands • Brands, companies • Cos with products/ANDAs • Cos with FF • Formulation development www.promedgroup.com
  11. 11. Building a global companyUS/CAN strategy Entry strategy for US To do • Partnership with pharmacy chains • Identify homegrown Indian • S&M agreements with distribution partners companies in specific sectors that • JV with generics and branded pharma cos have become global • Co-development deals with innovator pharma • Review their competitive positioning, • In-licensing of marketed products/ANDAs product and service offerings • Acquisition of companies/products • Compare their financials and • Establish label and front-end valuations Questions on US strategy • How much revenues should co target in next 5 Review questions and 10 yrs from US? • Which global markets did they • Should we partner with a third party or set up target? Why? our own office? • Which inorganic strategies did they pursue? • What type of JV deals should we get into? • What products did they introduce in • What new business areas should we target? domestic and global markets? • New products • What regulatory issues did they • New product categories face? • New therapeutic areas • How did they build brand presence? • New segments • How much market share do they • Is the contract manufacturing business (as a have? service to big pharma companies) sustainable? www.promedgroup.com 11
  12. 12. JV model for partnering with US based companies Company X partners with Company Y Branded JV Generics majority JV (50:50) (80 Company X:20 Company Y) - Commercialize - Commercialize - Commercialize NDAs Company X’s innovator - Commercialize ANDAs Company X’s ANDAs - Acquire NDAs/brands/ products - Acquire - Company X provides branded cos - Company X provides ANDAs/generics cos R&D + manufacturing R&D + manufacturing Company Y + Company Company Y + Company Company X markets Company X markets X retain US rights; X retain US rights; products in home products in home Company Y provides full Company Y provides full territories territories S&M S&M 3-4 years 3-4 years Exit through Exit through IPO/buyout IPO/buyout www.promedgroup.com 12
  13. 13. Building a global companyRussia strategy Russia strategy To do • New product development • Identify Indian companies that have • UD for existing products entered Russian market • Improved formulations • Review their competitive positioning, • Once daily regimen product and service offerings • Better patient experience • Compare their financials and • Preservative-free products valuations • Inorganic opportunities • In-licensing of products/companies Review questions • Manufacturing setup • Why did they target Russia? • New TAs/Segments • What regulatory issues did they face? • How did they build brand presence? Questions on Russia strategy • What are the fastest growing product • How much revenues should company segments in Russia? target in next 5 and 10 yrs from Russia? • How many new products did they • What new business areas should we introduce over last few years? target? • How much market share do they • New products, product categories have? • New therapeutic areas/segments • How many new products should we introduce every year? www.promedgroup.com 13
  14. 14. Building a global companyIndia strategy To do India strategy • Identify specialty “pure play” and • Inorganic opportunities diversified Indian (Pharma and other) • Acquisition of brands/companies companies • New therapeutic areas/segments • Review their product and service offerings Strategic partnerships • Compare them against peers – product • Partnership with specialty hospitals mix, product ratings (IMS data), markets, • Institutional sales financials, valuations • Review recent deals in the Pharma space (M&A, PE funding, etc.) Questions on India strategy • How much revenues should co target in Review questions next 5 and 10 yrs from India? • What does it take to become a successful generic co in India? • What new business areas should we • What product mix and pricing strategy target? should one employ? • New products • How are Indian generic companies • New product categories valued against their peers in US? • New therapeutic areas • Is this a good market for an IPO? • New segments • How should a co choose a PE firm? • What exit options should be considered? www.promedgroup.com 14
  15. 15. CSR - Seva in our Hearts CSR initiatives • Promed contributes 2% of net profit to CSR activities • Every employee puts 2 work days per year into Seva activities • Integrated health check-up camps - specialized eye camps, dental checkups, blood donation camps for the community at regular intervals • Support NGOs - Deepalya Foundation, Aarushi - Shelter for female child; sponsorship for education • Plantation drives and green manufacturing practices to help protect the environment www.promedgroup.com 15
  16. 16. CSR – Seva in our Hearts www.promedgroup.com 16
  17. 17. Summary Promed value proposition – • Innovation driven co with sharp focus on execution and delivery • Fully integrated with strong product R&D and GMP manufacturing • Cost-competitive and high-speed development and manufacturing • Adherence to stringent quality controls and processes per global standards • Fundamentally partnership-driven model with clients and builds LT relationships • Strong global regulatory expertise • #2 position in Russian ethical ophthalmology market • Robust ANDA pipeline for US and regulated markets • Established products in EU • EU-GMP and TGA-Aus approved • USFDA audit Q1 2013 Promed is extremely well-positioned to emerge as a global diversified pharma co www.promedgroup.com 17
  18. 18. Contact Harsh Bal, M.Pharm., PhD Sr. VP – Business Development & Strategy We need your creative out-of-the-box E: hbal@promedgroup.com thinking & bold new ideas. M: +91 813 015 8883 LinkedIn: in.linkedin.com/in/harshbal PROMED Exports Pvt. Ltd. We need change agents and 261, Udyog Vihar, Phase- IV, Gurgaonentrepreneurial minds with a can- do attitude. Haryana - 122001, India T: +91(124) 495 1100 F: +91(124) 430 1263 W: www.promedgroup.com We are hiring – please send your resumes to us!