FUTURE OF ONLINE PHARMACY - PROS,CONS AND CHALLENGES.

Online Pharmacy is going to be the next big evolution that will impact billions of lives and bring a healthy behavioral change to safer and more convenient tomorrow.

The growth of the Internet has given rise to various technology driven models, to access and serve consumers in a fast paced and most efficient way.

 One of the progressive technology models that have evolved in the last few years is telemedicine that has enabled accessibility to the finest doctors at the click of a button. 

Another recent innovation that has positioned itself as an attractive model in the healthcare space is E-pharmacy.

E-Pharmacy is one of the technology advancements which is likely to bridge this gap by providing easy and affordable access of medicines to the consumer at their doorstep at a mere finger click. Moreover, the concept will also provide proper awareness to the buyer regarding the appropriate medicinal remedies.

Buying medicines online is a different culture altogether. These are still early days for Online Pharmacy in India, which means that potentially there is immense place for growth. 

Currently, secure web-based platforms are available with few providers to support enhanced pharmacy services and public health initiatives. The wide use of these will increase and also web platforms will be used as a communication portal to make information available to pharmacists.

Following the recent protest against online sales of medicines, Government of India is considering to take measures to regulate it. 

The Drugs Controller General of India (DCGI) which regulates the sale of medications in India is also initiated the formation of committee to look into these matters in detail and come up with regulations and framework for legal operations of online medicine stores. Once these regulations are in place, the sale of medicines online may reach a new level.

There are several benefits to the buyer from online sales of medicines. The most widely publicized benefit being the ease of purchase and the ability to buy medicine without having to travel for it. Nevertheless, buyers will always need to be careful about spurious products being sold for throwaway prices.

HOW DOES ONLINE PHARMACY WORK?

An online pharmacy, Internet pharmacy, or mail-order pharmacy is a pharmacy that operates over the Internet and sends the orders to customers through the mail or shipping companies.

Pros and Cons of Online Pharmacies :

There are tons of online and mail order pharmacies. They provide medications at lower costs and give you more variety than normal pharmacies. However, there are also some cons to using online pharmacies that you must know both the pros and cons of online pharmacies before choosing to use one.

Pros of Online Pharmacies:

There are tons of benefits to using a licensed online pharmacy, making them a great alternative from other pharmacies. They carry the same great medications as the other pharmacies, but provide you with a few perks that you don’t see elsewhere.

Cost: Cost is a great benefit when using an online pharmacy. Many of the online pharmacies provide deals on medications that drastically cut your costs. In addition, online pharmacies often provide free shipping. The reduced price in addition to the free shipping make online pharmacies much less costly and much more appealing if you are on a budget.

Convenience: Buying prescriptions from online pharmacies is extremely easy and convenient. Rather than going out of your way to pick up your prescription while the pharmacy is open, you are able to order medications at any time and have them delivered right to your home. Even if you do not live near town or are unable to leave your home, you are still able to benefit from great prescription medications.

Information: Not only are you able to find many great prescriptions on online pharmacies, you can find a plethora of information. You are able to read about certain diseases and medications. This allows you to keep up-to-date on medication facts, letting you make an informed decision.

Private: Online pharmacies are private. You have the freedom buying the prescription you need without having to announce your problem to the world. In addition, if you have questions about any concerns you have, you are able to ask anonymous questions and avoid embarrassment.

Cons of Online Pharmacies:

As with anything, there are both pros and cons of online pharmacies. The benefits to online and mail-order pharmacies are great, but you have to know the negatives before choosing an online pharmacy.

Reliability: Not all online pharmacies are reliable. The prescription you need may not be available when you need it, and there may be shipping delays. Many medications have serious side effects if you miss taking a dose. In addition, not all of the online pharmacies are actually licensed. Make sure you choose an online pharmacy that is reliable and licensed.

Safety: Not all online pharmacies care about your health. Many of them are out to make money and may sell you dangerous medications. This is especially true if you do not need a prescription to buy the medication. Make sure you are buying from a reputable source before you use any online pharmacy medication.

Hidden costs: While many online pharmacies provide low costs and free shipping, some online pharmacies have hidden costs that quickly add up. Common hidden fees include ordering fees, account fees and consultation fees. Make sure to check for any hidden fees before you order.

Your information: While online pharmacies provide privacy, some of them do not have great privacy policies. They may sell your information. In addition, their protection methods may not be great, making your financial information obtainable by a hacker.

Conclusion:

There are pros and cons of online pharmacies. Online pharmacies are great for providing private, easy and less expensive medications. However, make sure to choose a reliable online pharmacy that cares about your health and protects your personal information.

HOW SMALL PHARMA STARTUPS CAN GROW THEIR BUSINESS :

How small pharma startups can grow their business:

In the past few years,  pharmaceutical Industry (especially india) has grown at nearly 12 to 15 per cent which is a tremendous pace of growth if we compare it to that of the US or European markets. No doubt the growth of the industry will continue to be in double digits and India may rank above the top five global pharma markets by 2030. But it is also becoming difficult for domestic companies to survive in the current scenario. Along with small and mid-size firms, even a few big players have exited the business in the last five to seven years. 

Big international houses are becoming more active  - they have both money and resources to flourish pharma industry. A lot of equity transactions are happening in the marketplace - a few recent ones being those of Piramal (Abbott), Agila Specialities (Mylan) and GSK (increased its own stake). It is not only big players who want to enter the country, but also domestic players don't see much growth in the near future despite the expected high growth in the industry. This is a pretty serious situation and must be discussed.

There are many reasons which are taking local players into troubled waters. Let's take them one by one.

1. No diversification :  This issue can be further subdivided into:
a. Focus on low value generics business only
b. Top line highly dependent on domestic sales

Players depending majorly on local markets and generics business (areas like antibiotics etc.) will have to diversify in order to survive in the future. The Indian market is already competitive. Foreign MNCs are adding more competition to it by launching products in both branded generics and generics categories. Government policies are reducing profit margins in order to provide low cost drugs to the people, causing problems for companies dependent on domestic market. It is becoming difficult to differentiate with similar products and a limited portfolio.

2. Enforcement of Drug Price Control Order :

 This is one of the biggest steps taken by the government to ensure availability and affordability of quality drugs for the masses. It has led to drastic reductions in the prices of several essential medicines, leading to a dent in the bottom line of pharma companies (mainly generic local players).

3. 100% FDI in both existing and new businesses :

Free FDI entry into the sector has brought in many big companies which has increased competition for small and mid-sized players in an already highly fragmented market. Domestic companies are finding it tough to maintain their share of the pie.

4. Stringent steps towards both IP (Intellectual property) policy and conducting of clinical trials :

In the post GATT (General Agreement on Trade and Tariffs) scenario, the implementation of a stringent IP policy in the country is one of the agenda points for the government, in order to facilitate the availability of the latest medicines to patients. Clinical trials are another issue associated with innovation. The administration is also paying more attention to the safety of patients following a few incidents that have happened in past. All of this has increased the hurdles in the path of getting approvals for new drugs in this country.

Now, we have some understanding of why it has become difficult for domestic players to survive, let us move on to measures which could help them sustain and grow their businesses.

·       STRATEGIES TO BUILD A SUCCESSFUL STARTUP :
To start with, domestic players will have to broaden  their vision and make plans for at least the next five to 10 years. Strategies which could be followed include :

1. Shift towards high value generics from the low value generics business model :

Domestic companies will have to shift their business models which are based on low value generics, to high value generics which are difficult to copy, to niche or specialty products or biosimilars. Biocon's launch of Herceptin biosimilar (CANMAb) is the latest example in this category. Dr. Reddy's and Sun Pharma have high profit margins due to their focus on specialty products.

2. Increase presence outside the domestic market :

It will be difficult for domestic companies to survive if they depend largely on the local market. The European and US markets are increasing their focus on generics,. Domestic players will have to move out and diversify their risk in order to sustain in the long run. 

3. Increase investments in R&D :

There is great need of innovation in the IPI. Companies need to spend money on R&D, not only for the growth of the market but also to strengthen their positions. Incremental innovation can be a good starting point. Companies can then move towards pure R&D. The IPI is still waiting for its first indigenous new product launch.

4. Follow GMPs (good manufacturing practices) and SOPs (standard operating procedures) to ensure production of high quality medicines :

No doubt foreign markets are opening up for generics and Indian companies are taking due advantage of the situation. But we have to be more cautious about the quality of products manufactured in the country. After Ranbaxy, Wockhardt also has been into troubles with US Food and Drugs Administration. If the things continue in the same vein, the whole domestic pharma industry may suffer going forward. Domestic companies should follow all the SOP guidelines and be responsible about quality which will surely benefit them in future.

5. Boost spending on brand building :

Domestic companies will have to increase and optimize spending on brand building. In case a company is successful in establishing its brand, it will be easy to create a market for its brand generics then. Branded generics not only yield better margins than generics but also provide an edge over the competition.

One positive is that even the government is concerned about domestic pharma companies. Recently, the Department of Industrial Policy and Promotion (DIPP) raised concerns over allowing 100 per cent FDI in the pharma sector. Although the cabinet has rejected the proposal to reduce FDI, it has agreed to one condition - non inclusion of the non-compete clause in all brownfield pharma transactions. This will help domestic players - even if they sell their businesses to MNCs, they can restart or invest in new ventures of a similar nature.

In sum, it can be concluded that domestic companies will definitely have to put some serious effort into remaining in business. They have to align themselves to the existing scenario or they will fall prey to it.

STARTING FROM MEDICAL REPRESENTATIVE TO MAKING INDIA'S BIGGEST COMPANY.

STARTING FROM MEDICAL REPRESENTATIVE TO MAKING  INDIA'S BIGGEST COMPANY - R C JUNEJA'S SUCCESS STORY OF MANKIND PHARMA:

Mankind Pharma, which started off with an investment of Rs 50 lakh, has become the sixth largest pharma company with revenue of 60 crores USD between 2014 -15 .

After completing his graduation in science, he started his career in 1974 with Kee Pharma, working as a medical representative. In 1975, he joined Lupin & worked there as first line manager for almost 8 years. In 1983 he resigned from lupin limited & started his own company Bestochem in Partnership. In 1994, he withdrew his ownership from Bestochem and in 1995 incepted Mankind Pharma along with his younger brother Mr. Rajeev Juneja with an investment of Rs. 50 lakhs and an initial team of 25 Medical Representatives.

Under the supervision of R C Juneja, Mankind thrived from a Rs. 3.49 crores company in 1995 to a company having revenue 60 crores USD  in revenues by 2014-15.

Mankind Pharma was started with an investment of merely Rs 50 lakh and only 20 employees. Today, we are among the top five fastest growing pharmaceutical companies of India with an employee base of more than 10,000 and heading towards a turnover of 60 crores USD.

Mankind  aspires to aid the community in leading a healthy life through two  parallel objectives: formulating, developing &  commercializing medicines and delivering affordable & accessible medication that satisfies urgent medical needs.

Mankind’s strong portfolio of businesses, geographies and products ranging from pharma to popular OTC & FMCG brands — Unwanted72,  Prega News, Kustody, Adiction, Gas-O-Fast, and Manforce condoms provide mankind the strategic benefits of integration that allow them to perform best in an increasingly competitive market.

In 2010, Mankind launched its first overseas market, SriLanka and we are expanding the horizon in Vietnam, Philippines, Myanmar, African market, CIS and other regulated and semi-regulated markets by 2015.

·       How the company differentiating itself from other pharma players?

The  Mankind Pharma’s mission is to provide high quality medicines at affordable prices for healthier lives, with the business model spanning across three segments: generics, active pharmaceutical ingredients and OTC products.

The company analysed that Indian companies' increase or hike their prices when the cost of active pharmaceutical ingredient (API) imported from other countries goes up. However, when API’s price falls, the prices of the medicines are not regulated or reduced.

For example: This is the main reason why Mankind Pharma has been able to sell at a less than half its rivals cost, its antibiotic Moxikind CV was launched and selling for Rs 13 against competitors’ brands priced at approx. Rs 40.

With a ‘Bottom to top of the pyramid’ approach, Mankind Pharma has been able to penetrate with affordable and easily available drugs in rural  India’s small towns and villages, which had been neglected otherwise.

According to IMS Health, a US-based firm that collects proprietary industry data, Mankind Pharma was present in every village in India that had 1,000 or more inhabitants in 2009, which contributed to 58% of the company’s revenue.

Mankind is  having the largest sales force in the sector for penetrating nook and corner of the country and manage a very low attrition rate at half the industry level.

“6” career options and hiring trends in the pharma sector

“6” career options and hiring trends in the pharma sector:

The pharmaceutical sector is one of the largest in the world and is still on the rise thanks to the low cost of installation and machinery. The sector is estimated to double by 2020 in terms of revenue and with countries, for example, Ireland trying to attract Indian pharma companies to start facilities, the path for the companies indeed is very bright.

Turning  our focus from the companies to the people who make the company. It is fairly obvious that if the pharma sector is going to enjoy a substantial growth in the near future, then the number of people employed is also going to rise.

Projects like “Pharma Vision 2020” initiated by  the Government to make India the pharmaceutical superpower. The idea is to change the image of the nation from a drug manufacturing country to an end to end drug discovery and innovation machine. The plan is to make India the solution for the cures that are required for diseases.

The news around the block is that 45,000 jobs are going to be created in the pharma sector in the year 2015. This indeed is a good sign and one pointing towards more job opportunities in the future.

·         Initiatives like “Make in India” and “Swachh Bharat Abhiyan” are certain to encourage domestic as well as foreign companies to grow.

·         Rapid urbanisation and greater economic development are some of the encouraging factors for the sector.

·         Improvement in distribution network and better outreach to the rural areas.

With so much promise provided by the pharma sector, I personally believe that the employment opportunities for the pharmacy graduates are good. So what kind of a job profile or a career option will be available for him/her :

1. In Research and Development :

With a project title such as “Make in India” it can be expected that the encouragement for research and development of drugs will be more than fair. Students from pharmacy background are required and a student with good skill sets can certainly make a successful career for himself. Companies like Dr.Reddy’s and Aurobindo are always on the lookout for quality professionals. A career in R&D is certainly one to aspire for. A pharma graduate can be hired as a “Research Associate or Research Assistant”.

2. Analysis and Testing :

Analysis and Testing and the sector are basically like two peas in a pod. It is required that a proper Quality control and assurance is maintained. Staff with good skill sets are required to perform analysis with sensitive and sophisticated equipment. All the pharmaceutical companies require professionals to carry out the functions.

3. Production and Manufacturing :

The potential requirement for this purpose is huge and a person can be hired as a “Production Technician”. Graduates are hired in the pharmaceutical sector on a consistent basis and with projected growth, certainly the employment is bound to rise.

4. Marketing :

Marketing is required in any field and the pharma sector is no exception. It is important that the person is technically sound and is enable to pitch well. A person can be hired as a “Medical Representative”.

5. Regulatory bodies :

A person can make a lucrative career for himself as a “Drug Inspector” or “Drug Controller”. This is currently one of the brightest options available now and the person can work in bodies like the Food and Drug Administration.

6. Intellectual Property Rights :

Personally, if I were a pharma graduate and looking for the best option available in the current market today, i would choose to be involved with IPR. This path of the road is less travelled with excellent growth for candidates. Pharma companies do have requirements for their IP Cell but the major requirement of pharma graduates is in Law firms and KPOs. A candidate can be hired as a “Patent Analyst” or as an “IP Researcher” or a “Patent Engineer”.

From son of a pharmaceutical trader to becoming India’s second richest man.

From son of a pharmaceutical trader to India’s second richest man – Dilip Shanghvi’s incredible story

His father was in the pharmaceutical drugs trading business. Borrowing Rs 10,000 from his father, he now owns a Pharma company, making him the second richest man in India. This is the story of the famous tycoon, Dilip Shanghvi.

as born in Mumbai. His family later moved to Kolkata. He started off by helping his father’s wholesale pharma business in Kolkata (then Calcutta). After Graduating from Calcutta University in the stream of commerce, he started his own business in Kolkata with one employee, where he marketed and sold psychiatry medicine. He then came to Mumbai, and set up his first factory in Vapi, Gujarat.

The realisation to start his own drugs company had dawned on Dilip when was helping his father. He soon decided to set up his own business and market his own brands instead of continuing in trading business. He got his initial investment from his father and started Sun Pharmaceutical in 1982. His base was Vapi in Gujarat, where he got some goods and equipment from a friend. Seeking help from a few more people, he started off with five products for psychiatry. The company did IPO in 1994, and expanded its sales network across 24 countries in 1996.

In 2011, Ranbaxy crossed global revenues of $2 Billion, becoming the first pharma company of Indian origin to do so. Sun Pharma ventured into Ophthalmology in 1987 by taking over Milmet Labs. Milmet Labs was at a global rank 108 in 1987. Currently, it is ranked 6th, signifying Dilip's mettle. The company started Branded Ophthalmic business in US last year.

Dilip also ensured that he expanded Sun into the European and US markets. Acquisition of Ranbaxy gave the company the necessary depth required in emerging markets. In 2012, when Sun Pharma acquired URL Pharma Inc. and DUSA Pharmaceuticals Inc., it was a major step in his career. According to Bloomberg Data published by Live Mint, Dilip, with a net worth of over $21.7 billion, also owns a mammoth 60.8% stake in Sun Pharma, making the company number one in India and fifth largest in the world.

In an interview with business standard, Dilip had this to say about the key attributes of a good entrepreneur:

"A good entrepreneur is able to spot an opportunity before others see it. He is able to risk money for opportunities that don’t exist today; he’s able to create a team around him who share his vision, helps in execution and, I think, continues to learn all the time."

Dedication, hard work and the ability to make the right decisions at the appropriate moments made Dilip Shanghvi the man he is today.

SERUM INSTITUTE OF INDIA TO LAUNCH 4 VACCINES,ENTER US,EUROPE MARKETS

Homegrown global vaccines major Serum Institute of India plans to launch at least four products and enter European and US markets in the next three to four years as it seeks to retain number one position. 

The company sells its products in 147 countries and is the largest vaccines manufacturer by dosage globally with 1.2 billion doses per annum. 

"There are two ways to maintain the position - come out with new vaccines as fast as possible for the existing markets and developing new markets," Serum Institute of India CEO Adar C Poonawalla told.

Elaborating on the company's plans to launch new vaccines, he said Serum Institute plans to launch four new vaccines in the coming years.

"We are planning to launch a pentavalent meningitis vaccine. It is five-in-one meningitis vaccine. It will be coming out in less than two years time," Poonawalla said.

By end of 2019, there is a plan to launch a pneumonia vaccine, which will have a huge impact of protecting children's lives, as pneumonia causes maximum number of child deaths .. 

The other vaccines the company plans to launch are a dengue vaccine and a human papilloma virus (HPV) vaccine for cervical cancer in women.

He sought government help to cut down the time required for approvals and improve ease of doing business and for the company to stay ahead of global competition.

"For us to stay ahead, we need support from the government to give us a fast track approval for our new vaccines," Poonawalla said.

On entering new markets, specially the developed ones in Europe and the US, he said steps are being taken up to have presence in these markets.

"We are not selling in the US and Europe right now but eventually in three years time we will go to Europe. Our first vaccine, TDAP (for protection tetanus, diphtheria, pertussis) should be launched in Europe in three years. It is a booster vaccine given to children," Poonawalla said.

The company's new facility in Pune, which will be ready in a year and a half will cater to Europe and the US, he added.

When asked about the company's investments on new products, he said: "We spend between Rs 300-400 crore a year on research and development."

SERUM INSTITUTE CAN DEVELOP VACCINE TO COMBAT NIPAH VIRUS

Pune based Serum Institute of India has said that it may look at evaluating a candidate vaccine to combat Nipah virus, and that can be rolled out in three to four years if the country decided to develop the preventive on a priority. 

However, the institute clarified that the government hasn’t asked Serum to develop a vaccine yet. Rajeev Dhere, executive director at the Serum Institute of India, said: “If the nation decides that it is a priority to develop a vaccine to combat Nipah virus, Serum may look at evaluating a candidate vaccine. It can be rolled out in three to four years, which is the normal development and licensing period, if considered on fast track.

Even as the government machinery is busy trying to contain the spread of the Nipah virus outbreak in Kerala, there is no vaccine yet to fight the disease. Attempts are being made to prevent the infection of Nipah virus by containing the epidemic in a restricted area. Going by human vulnerability, the virus is a comparatively recent infection.