The Hindu : Business : Mankind Pharma to expand footprint globally

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Wednesday, Feb 13, 2008
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Mankind Pharma to expand footprint globally

Special Correspondent

— PHOTO: ANU PUSHKARNA

TAPPING NEWER MARKETS: R. C. Juneja (left), Managing Director, Mankind Pharma, and Sanjeev Johar, Asia Pacific Regional Head, Diabetes Care, Roche Diagnostic, launching ACCU Chek Go in New Delhi on Tuesday.

NEW DELHI: Drug firm Mankind Pharma is considering making forays into the U.S. and other newer markets to boost topline and surge ahead to emerge as a Rs. 1,100-crore company over the next three years. It is going ahead with its plans to kick-start its operations abroad during the current calendar year by establishing marketing offices in neighbouring Nepal and Myanmar (Burma).

Tie-up

“As of now, we are going to set up a base in Nepal and Burma but are actively looking at expanding footprint in other geographies. Though the U.S. is not on our radar immediately, we plan to enter that market within the next five years,” Rajeev Juneja, Director, Marketing, said here on Tuesday while announcing his company’s tie-up with diagnostics equipment major Roche Diagnostics India to market its diabetes monitoring device Accu-Check Go.

According to the agreement, Mankind will market the equipment in 500 towns pan-India through physicians and expects the new vertical to contribute Rs. 200 crore to its overall revenues in the next five years.

Marketing offices

While moving to Nepal and Burma to tap opportunities there, the company will market its entire product portfolio, including the over-the-counter (OTC) medicines. At present, the company operates in the domestic drug market with 44 brands, both prescription and non-prescription-based. It had, last year, started its OTC division and launched veterinary drugs three months ago.

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