Mankind keen on lowering cancer drug prices, awaiting govt policies

1. Mankind Keen on Lowering
Cancer Drug Prices, Awaiting
Govt Policies
Mankind Pharma, the fifthlargest Indian drug maker by market share, is keen
to produce cancer drugs at low costs and treat the portfolio as a service for the
masses without earning anything from it, says Ramesh Juneja, founder and
chairman. In an interview with ET's Soma Das, Juneja also said it is the
company's low-cost strategy that has prompted rumours around the quality of
its drugs.Edited excerpts:
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2. Contd..
Is Mankind working to reduce prices of cancer drugs?
Reducing the prices of cancer drugs is on our radar, but we are waiting
for the government's next move on this. The government also wants to
make the exorbitant cancer drugs affordable, which it could choose to
do either by asking pharma multinationals to reduce prices or by
diluting patents. We are waiting to see which route the government
takes. Patients suffer in cancer not only because of the disease but also
the amount they end up spending in managing it. The government will
have to find a way out over the next few months. My purpose is to not
earn anything out of this portfolio, which I mean to create as a kind
service for poor masses.
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3. Contd..
Mankind has slashed prices of many drugs but at times faced questions around
the quality of its drugs. Your comment?
Most of our molecules have been very cost effective. While the strategy had its
merits, we also had to face some unique challenges with some people questioning
even the quality of our drugs. I will quote an example. In 2003, we started
marketing a drug, Mecobalamin. It was being marketed then by other
multinationals in India at the rate of around `. 90 an injection, we introduced it at
about `. 7 per injection. Then, of course, we were very small. Suddenly, the rumour
market was abuzz that we were offering sub-standard drugs. Doctors and
consumers do not realise that the price of bulk drugs, the main raw material to
make the drug, goes down over a period of time and at times goes down very
drastically, and companies many a times do not pass that benefit to the
consumer.Then it took us some time to convince the doctors and diffuse their
doubts. Now, most in the medical profession understand that logic well.
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4. Contd..
Mankind has generated the maximum number of prescriptions this year in the
domestic market. Is it only because of having the highest number of medical
representatives?
We are now the market leader as far as pre scriptions generated is concerned.
Mankind today generates on an average 93 prescriptions per doctor per month
while the second leader lags Mankind by almost 30 prescriptions, clocking about 62
prescriptions per doctor. It is mainly due to a difference of cost in drugs sold under
our brand and other large companies. But part of it is also because we have the
largest number of medical representatives and serve smaller centres, which are
underserved and unpenetrated and hence face limited competition. Beyond the
10,000 medical representatives, we will continue to hire as forces of urbanisation
unlock latent demand. Villages of 20 years back have turned into townships, small
towns have become bigger, number of doctors have gone up and hospitals are
penetrating those places faster. So there is still a need gap we are catering to.
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5. Contd..
As the pipeline of original molecules dry up, the future targets of generic
companies also shrink. Is Mankind planning to diversify?
We have entered neutraceuticals, a sub sector where there is a lot of growth.
It is true that the pipeline of new pharmacological molecules has dried up,
but there is scope for innovation in existing molecules such as new drug
delivery system, introducing nano technology, encapsulation, orally
disintegrating strips, transdermal drug delivery and sustained release.Again,
over-the-counter (OTC) space is another area of interest which doesn't give
instant returns. It is an unhurried but enduring affair. We have also been
marketing deodorant under brand Addiction and leading in condoms with
the brand Manforce, but have decided to largely restrict company's offerings
to those related to health. This is a subject we understand best, and we will
focus on that. Brought to you by
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6. Contd..
Do you have any plans to go for a public listing?
In the near future we don't see ourselves listing. We are a cash-rich
company. And do not have any imminent need to list.
Two years after the implementation of national drug pricing policy, how
has the government's move affected prices of Mankind's drugs?
Out of 348 medicines that figure in the national list of essential
medicines, Mankind has approximately 43 molecules. Amazingly, the
company did not need to cut down the prices of even a single brand
and is least affected by it. Reason being, Mankind is already providing
high quality medicines at economical prices, at wafer thin margins.
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