Stadmed plans to enter into a strategic tie-up with a foreign player
After making its presence felt in the Indian market, Kolkata based Stadmed Private Limited is now toying the idea of entering into a strategic tie-up with a foreign manufacturer to continue its growth trajectory.
Confirming the development to EXPRESS PHARMA, Asheesh Roy, Director, Stadmed Private Limited told: “We are exploring the idea to enter into a strategic arrangement with a small or mid-sized European firm operating in our domain”.
Through this strategic agreement we plan to market their pharma products in India, Roy said. “To start with we may import their pharma products and market it in India. At a later stage we can even explore the possibilities of manufacturing their pharma products at our facilities in India. This will not only help us to expand our footprints in the country but also penetrate new niche markets”, he added. We would be interested in those companies who have expertise in anti-diabetic, urology and cardiovascular products or have niche product basket.
The Company has two manufacturing units, one in Kolkata and the other one in Lucknow, Uttar Pradesh. The manufacturing units are equipped to manufacture oral liquid, tablets, injectables, ointment and powders. Both the units are ISO 9001 2000 and GMP certified.
Roy said that the Company has identified Cardiovascular, Anti-Diabetic, Paediatric, Gyaneocology and Urology as the key growth areas.
“Cardiovascular, urology and anti-diabetic are our core strengths and now we have identified Gyaneocology and Paediatric as our new growth areas”, Roy said.
In the cardiac sector, the recent addition is Losartan Potassium Plain and with Hydrocholothiazide combination. In the diabetic segment, Stadmed has added products like Glimiperide & Metformin CR preparation, Metformin 500 mg / 1000 mg SR preparation etc. The Company plans to bring in more products in its portfolio and also spread its marketing network.
Elaborating on the rationale behind entering the paediatric and urology domains, he commented that today people are more conscious about the well-being of their child. The average spending on the healthcare needs on children have increased as more and more couples are option for a single child.
Besides, estimate reveals that there has been a rise in urology related disorders as the Geriatric population in the country has increased in the last decade as the average expectancy of life has gone up.
The Company has set up a fully equipped R & D facility to develop new drug delivery dosage forms of existing molecules and also novel drug combinations. The Company has successfully tied up with Bioequivalence centre, Jadavpur University and the Department of Science & Technology, Government of India to develop newer drug dosage forms.
Stadmed is also planning to enter into a technical tie-up with a renowned international organisation to set up and start the R&D operations of the Company. The main aim of the R&D Department will be to invent novel therapeutically rational combinations, different therapy rational drug delivery system, that will help to meet the recent trend of the doctor segment of different specialities. The venture is going to be a milestone in the pharmaceutical history of the region.
The Company has a good team of technical experts who are constantly working to upgrade existing formulations and manufacturing processes. The Quality Control and Quality Assurance team is extending untiring efforts for quality checking and improvement.
Under these innovative initiatives, Stadmed is heading towards steady progress and a phenomenal growth. Stadmed expects a jump in its revenue in the current fiscal following these initiatives. “The company’s turnover is likely to touch the Rs. 40-crore in the next two years”, he said. In the current fiscal, Stadmed’s turnover should be around at Rs. 32 crore.
Roy said he also plans to strengthen the Marketing arm of the company. He is confident that the team can take up new challenges to increase market share for its products and realise the Company’s vision to establish itself as a leader in the pharma world.