India's pharmaceutical tycoons are aggressively opening up new niches beyond generic drugs and expanding their global reach. India is a leader in the low-cost pharmaceutical industry, accounting for 20% of the global drug supply.
India's pharmaceutical industry will double in size to $130 billion by 2030 and more than triple to $450 billion by 2047 as companies explore next-generation therapies, according to global consulting firm EY-Parthenon.
Mankind Pharma, which is controlled by billionaires Junija brothers Ramesh and Rajev, announced in July that it plans to buy Mumbai-based Bharat Serums and Vaccines from United States unlisted equity firm Advent International for $1.6 billion.
The acquisition is expected to be completed shortly. Mehul Sheth, ·an analyst at HSIE Research, a Mumbai-based research firm, predicted in a July note that Mankind would become a market leader in women's health and fertility treatments with the deal. Mankind will also expand its reach to more than 70 countries and territories through this transaction. In the fiscal year ending March this year, the Delhi-based company had operations in just over 20 countries and territories.
Vice Chairman Rajev said the acquisition "represents a milestone in the history of Mankind's development and is of great significance". Over the past three decades, he has worked with his brother Ramesh, who is Chairman of the Group, to grow the generic drug manufacturer into one of the largest pharmaceutical companies in India by sales (FY2024 revenue: US$1.2 billion).
Dr Reddy's Laboratories, the Reddy family's arm, is also growing its global consumer healthcare business. In June, the Hyderabad-based drugmaker agreed to buy Northstar Switzerland, owned by United Kingdom health care group Haleon, for $656 million. The company will acquire Haleon's nicotine replacement therapy business outside the United States, including the best-selling Nicotinel gum and patch, and strengthen its European operations.
G· V·普拉萨德（G. V. Prasad）。 图片来源：DHIRAJ SINGH/BLOOMBERG
Co-Chairs Satish Reddy · G· G.V. · Prasad Prasad) were the late founder of the company, K. Prasad. K. Angie · Reddy Anji Reddy). In recent years, they have created new growth drivers, such as health and wellness, building on their achievements in the generics and over-the-counter segments. Writing in June, Xie Si said the company's annual revenue is expected to reach $3.6 billion by March 2025.
Nirma founder and chairman Hiren Patel, son of Karsanbhai Patel, a multi-industry tycoon ·· detergent and cement tycoon, is pushing ahead with his family's ambitious plans in the pharmaceutical sector.
In March, Hillen · Patel, the group's managing director, led the $680 million acquisition of a 75 percent stake in Glenmark Life Sciences, a company that specializes in the treatment of chronic diseases such as cardiovascular disease and diabetes, from publicly traded Glenmark Pharmaceuticals. Prior to this, Nirma also acquired an eye drop manufacturer to expand its modest product portfolio of pharmaceuticals such as intravenous fluids and injectables.
At the same time, Mayank Singhal, son of Salil Singhal·· Chairman Emeritus of PI Industries, is diversifying from his family's agrochemicals business to the pharmaceutical industry. In the past 18 months, Mayanke's PI Health Sciences has completed two pharmaceutical mergers and acquisitions in the United States and Italy, and established a third R&D center in Hyderabad.
Last year, PI Health Sciences acquired Therachem Research Medilab, an Alabama-based company specializing in rare disease drug development, for $75 million. This follows PI Health Sciences' acquisition of Italy active pharmaceutical ingredient manufacturer Archimica from Germany's Plahoma Twelve for $38 million. In a statement, Mayanke said the investments marked an "accelerated start" for the group in the pharmaceutical sector, leveraging the group's "capabilities across complex chemistry across the value chain".
Writing in March, the India pharmaceutical industry will grow at a compound annual sales growth rate of 8%-10% in the coming years, partly due to increased sales and new product launches. "Similarly, leading companies are poised to lead the India pharmaceutical market (IPM) with strategies such as mergers and acquisitions, strengthening sales teams and launching new products," he noted. ”
This article is translated from:
https://www.forbes.com/sites/gloriaharaito/2024/10/09/the-worlds-pharma-factory-is-eyeing-a-bigger-share-of-global-markets/
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Translated by Lemin Guo
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