Harsh Bal - MDI Gurgaon Invited Seminar - 17 Dec 2012
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Transcript of Harsh Bal - MDI Gurgaon Invited Seminar - 17 Dec 2012
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Challenging Healthcare Barriers Globally
Growing Successful Companies – A Pharma PerspectiveHarshawardhan (Harsh) Bal, M.Pharm., PhD
SVP - Business Development & Strategy
Promed Group
17th Dec 2012
Management Development Institute (MDI), Gurgaon
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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
Brief bioFrom science to the business of science
About me• M.Pharm. in Pharm Tech, Dept of Pharmacy, Nagpur U• Work-ex (NPIL, USV, Mumbai; formulation R&D)• PhD. Molecular Biology (National Inst. of Immunology/JNU)
• Targeted therapies for cancer using Ab-toxin conjugates• Post-doctoral fellowship
• Univ of Rochester Medical Center, NY (Gene therapy)• Cold Spring Harbor Lab, NY (Genomics & Bioinformatics)
• Dana-Farber/Harvard Cancer Center, Boston – Signalingpathways + target discovery in HIV/AIDS & HTLV/Leukemia
• OSI Pharma (now Astellas Pharma), NY - Novel protein family target discovery based on human genome sequencing
• Millennium Pharma (Takeda Oncology), Cambridge, MA• KM (managing org. memory on proprietary genes, drugs)
• Booz & Co. (NY & Rockville, MD) – Strategy + mge consulting• Pharma/Biotech + federal consulting (BMS, NIH, USFDA)
• Avendus; MAPE Advisory, Mumbai – I-banking (M&A, PE)• 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
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To do• Know what you want early• Build industry connections• Network aggressively (LinkedIn,
local events, etc.)• Research industry trends• Invest in companies • ...
Review questions• What are your near/LT goals?• What are your core
competencies? • What is your ideal company?• What is your ideal role?• Do you want to gain experience
first or be an entrepreneur?• …
Cross-cutting skills, cross-domain experience
Drug discovery R&D
Strategy consulting I-banking
BD&L (Corp Dev.)
Entrepreneur/VC?
Enterprise maturation & evolution curve
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Single therapy focus- Specialty pharma cos- Core expertise- E.g., Promed
Multiple therapy focus- Full product portfolio- Diversification - E.g., Piramal
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?
Global diversified fully integrated enterprise
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• 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
About Promed
www.promedgroup.com
Corporate goals
• To be recognized as a research-basedglobal company offering a completerange of ophthalmology and ENTproducts
VisionVision
• To provide innovative products throughpersistent research and development
• To become a leading pharma companyknown for manufacturing 'difficult tomake' products by continuallyintroducing advanced technologies
• To create mutually exciting strategicalliances and opportunities for ourstakeholders
• To become a preferred employer in thepharma sector
MissionMission
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Promed Business Overview
Generic & differentiated products
Promed Group
Provis (India)Russia & CIS
Regulated Markets
(US/CAN, UK/EU)
Contract manufacturing (Nalagarh, HP)
CMO Services
Promed Research Centre, Gurgaon
Promed Research Centre, Gurgaon
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Product Categories
Ophthalmic Formulations- Multi dose solutions & suspensions
- Specialized capabilities (preservative free UDs)
Respiratory Care (for nebulization)- Inhalation solutions
- Inhalation suspensions
Wound Care- Sodium chloride irrigation solution
ENT Care- Nasal drops
- Ear drops
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Indications/uses• Anti-inflamm/NSAIDs• Anaesthetic• Artificial tears/dry eye• Anti-glaucoma• Anti-infective+anti-
inflamm combos• Mydriasis (for myopia)• Nutrition
Differentiated strategy to build global pharma companyPhase 1 – Achieving ophthalmology segment leadership
UK/EU• Licensing (Big 5)• CMO contracts
India• Inorganic growth• Licensing/M&A
• Brands• Cos with FF
Russia • New product development• In-licensing of products• New TAs (ENT)
US/Canada• Pharmacy chains• Distribution partners• R&D partnerships (P4, 505b2)• Acquisitions
• Cos with products/ANDAs• Formulation development
ROW• Partner with local
companies
www.promedgroup.com
Differentiated strategy to build global pharma companyPhase 2 – Achieving multi-specialty depth; focus on India, Russia & US
India• New TAs• New segments • Licensing/M&A
• Brands• Cos with FF
Russia • New therapy areas• New segments • Licensing/M&A
• Brands, companies
US/Canada• New therapeutic areas• New segments • Licensing/M&A
• Cos with products/ANDAs• Formulation development
www.promedgroup.com
Building a global companyUS/CAN strategy
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Entry strategy for US• Partnership with pharmacy chains• S&M agreements with distribution partners• JV with generics and branded pharma cos• Co-development deals with innovator pharma• In-licensing of marketed products/ANDAs• Acquisition of companies/products• Establish label and front-end
To do• Identify homegrown Indian
companies in specific sectors that have become global
• Review their competitive positioning, product and service offerings
• Compare their financials and valuations
Review questions• Which global markets did they
target? Why?• Which inorganic strategies did they
pursue? • What products did they introduce in
domestic and global markets?• What regulatory issues did they
face?• How did they build brand presence?• How much market share do they
have?
Questions on US strategy • How much revenues should co target in next 5
and 10 yrs from US? • Should we partner with a third party or set up
our own office? • What type of JV deals should we get into?• What new business areas should we target?
• New products • New product categories• New therapeutic areas• New segments
• Is the contract manufacturing business (as a service to big pharma companies) sustainable?
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JV model for partnering with US based companies
Company Y + Company X retain US rights;
Company Y provides full S&M
Company Y + Company X retain US rights;
Company Y provides full S&M
Exit through IPO/buyout
Exit through IPO/buyout
Company X markets products in home
territories
Company X markets products in home
territories
Company X partners with Company Y
Branded JV(50:50)
- Commercialize NDAs
- Acquire NDAs/brands/ branded cos
- Commercialize Company X’s innovator
products
- Company X provides R&D + manufacturing
Generics majority JV (80 Company X:20 Company Y)
- Commercialize ANDAs
- Acquire ANDAs/generics cos
- Commercialize Company X’s ANDAs
- Company X provides R&D + manufacturing
3-4 years 3-4 years
www.promedgroup.com
Building a global company Russia strategy
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Russia strategy • New product development
• UD for existing products• Improved formulations
• Once daily regimen• Better patient experience
• Preservative-free products• Inorganic opportunities
• In-licensing of products/companies • Manufacturing setup • New TAs/Segments
To do• Identify Indian companies that have
entered Russian market• Review their competitive positioning,
product and service offerings • Compare their financials and
valuations
Review questions• Why did they target Russia?• What regulatory issues did they
face?• How did they build brand presence?• What are the fastest growing product
segments in Russia? • How many new products did they
introduce over last few years?• How much market share do they
have?
Questions on Russia strategy • How much revenues should company
target in next 5 and 10 yrs from Russia? • What new business areas should we
target?• New products, product categories• New therapeutic areas/segments
• How many new products should we introduce every year?
Building a global companyIndia strategy
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India strategy • Inorganic opportunities
• Acquisition of brands/companies • New therapeutic areas/segments
Strategic partnerships • Partnership with specialty hospitals• Institutional sales
Questions on India strategy• How much revenues should co target in
next 5 and 10 yrs from India?
• What new business areas should we target?
• New products • New product categories• New therapeutic areas• New segments
To do• Identify specialty “pure play” and
diversified Indian (Pharma and other) companies
• Review their product and service offerings
• Compare them against peers – product mix, product ratings (IMS data), markets, financials, valuations
• Review recent deals in the Pharma space (M&A, PE funding, etc.)
Review questions• What does it take to become a successful
generic co in India?• What product mix and pricing strategy
should one employ? • How are Indian generic companies
valued against their peers in US? • Is this a good market for an IPO?• How should a co choose a PE firm?• What exit options should be considered?
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
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CSR – Seva in our Hearts
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Summary
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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
Harsh Bal, M.Pharm., PhDSr. VP – Business Development & Strategy
E: [email protected]: +91 813 015 8883
LinkedIn: in.linkedin.com/in/harshbal
PROMED Exports Pvt. Ltd.
261, Udyog Vihar, Phase- IV, GurgaonHaryana - 122001, India
T: +91(124) 495 1100F: +91(124) 430 1263
W: www.promedgroup.com
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