MICHAEL FISHER | B&C
Indoco Remedies grew from humble beginnings as drug store in Goa in 1945 and snowballed to a turnover of $140 million today as a Mega Corporation. Its growth is attributed to the dynamics and vision of Mr. Govind Ramnath Kare in 1945 and his son Mr Suresh Kare.Indoco shares listed on stock exchanges has three manufacturing plants in Verna, Goa which are approved by Regulatory Agencies such as US-FDA, UK-MHRA and Darmstadt, and Germany to name a few. Research activity is the backbone of a pharmaceutical business and it determines the growth of any organization, views Mrs Aditi Kare Panandikar Managing Director of Indoco Remedies.
She says, we have made significant progress by exhibiting technical superiority in Research & Development (R&D) activities by setting up the state-of-the-art R&D Centre, which employs more than 250 scientists, including doctorates and post graduates. The Company is on a high growth trajectory and there is a continuous demand for expansion of R&D and manufacturing facilities.
Indoco Remedies has recently acquired Hyderabad based Piramal Clinical Research (PCR) a division of Piramal Enterprises Ltd. The CRO specializes in conducting bio-availability and bio-equivalence studies, bio analytical method development and validation, sample processing, analysis, and statistical analysis reporting.
This facility spreads across an area of 30,000 square feet and is equipped with a 98-bed facility, monitoring stations, phlebotomy stations, four-bed ICU, state-of-the-art analytical lab and capabilities of eCTD submission.
We are extremely happy to have the CRO division of Piramals as part of Indoco. This acquisition will expand the depth of our services to customers in India as well as across the globe and would reduce our dependability to outsource bio-equivalence studies,” says Mrs Panandikar.
Apart from reducing cost and ensuring time-bound outcome of studies, the CRO would be the perfect fit to our existing R&D efforts, including facilitation of ANDA/Dossier filings. The CRO was initially established under the name Wellquest in 2001 in Mumbai and was later shifted to Hyderabad in 2007, has regulatory approvals from several bodies including USFDA and was the first CRO from India to receive GCP certification from UK-MHR
The CRO has approvals from several bodies including USFDA and was the first CRO from India to receive good manufacturing practice (GMP) certification from UK’s Medicines and Healthcare products Regulatory Agency (UK-MHRA). This acquisition enables Indoco to offer the entire spectrum of services to pharmaceutical companies across the globe.
Goa has attracted many pharmaceutical companies and there is a distinct advantage if the R&D and CRO facilities are located in the vicinity. Moreover, R&D and CRO are high-end services which will not entail disturbance to Goa’s natural resources and environment.
The state has the right infrastructure and connectivity to the big Indian cities and other countries. Goa has its glamour as an internationally acclaimed tourist destination which attracts senior scientists to relocate and foreign corporates to visit Goa. All these factors are conducive, including availability of skilled manpower for making Goa a hub for CRO and R&D activities.
The Government of Goa can make the most of this opportunity by providing incentives and inviting Pharma companies to set up Clinical Research Organisations and Research & Development centres.
This move will benefit the State as it will add to its revenues and provide excellent opportunities of employment to Pharmacy, Science graduates and Post-graduates from Goan Colleges and Institutes.
Indoco develops and manufactures a wide range of pharmaceutical products for the Indian and international markets. It generates more than 50 million prescriptions annually from over 2,00,000 doctors in India.
It has 10 domestic marketing divisions, viz., Indoco, Warren Nxgen, Warren Ace, Spade, Warren Excel and Warren Vision, Spera, Eterna, Indoco CND, Indoco Focus and Indoco Impulse, cater to both acute and chronic therapies.
The company says it owes its beginning to Goa through a small drug store, Farmacia Salcete in Margao. After the liberation of Goa, my grandfather, the late Mr Govind Ramnath Kare decided to send my father Mr. Suresh G. Kare to Mumbai in 1963.
Under his able leadership spanning over five decades the company has grown into a large corporation growing at a turnover of around US$ 140 million and employing nearly 6,000 people. Almost 40 per cent of the turnover is accrued from exports mostly to advanced markets of Europe and USA.