"Our endeavour will be to gain market share in each of our business by doing better. Despite the near-term uncertainties related to COVID-19, we hope to be able to do better consistently," Sun Pharmaceutical Industries MD Dilip Shanghvi said in an analyst call.
Drug major Sun Pharma aims to gain market share in all the verticals it is present in amid challenges posed by the coronavirus pandemic, as per a top company official. “Our endeavour will be to gain market share in each of our business by doing better. Despite the near-term uncertainties related to COVID-19, we hope to be able to do better consistently,” Sun Pharmaceutical Industries MD Dilip Shanghvi said in an analyst call.
The drug major, which has presence in around 150 countries, caters to various various segments like psychiatry, anti-infectives, neurology, cardiology, oncology, among others. Shanghvi said that the company is also looking at supply chain protection, ensuring optimum utilisation of its factories and working closely with vendors to ensure continuity of supply while at the same time continuing focus on improving productivity throughout.
In times of COVID-19, the Mumbai-based company also looks to focus on cash preservation and finding a way to reduce the overall debt for the company, Shanghvi said.
“You will see that the total borrowings have come down by almost USD 400-plus million (about Rs 3,000 crore) in one year. And we will continue the same focus reducing the overall debt,” he noted.
Commenting on company’s plans to expand its domestic business, Sun Pharma Head (India Business) Kirti Ganorkar said the the drug firm is in the process of expanding its field force in order to increase its reach.
“We want to expand (field force) by 10 per cent. Out of that, 7 per cent to 8 per cent we have already achieved, so that we cover a large number of doctors and we cover some of the territories, which we have not covered,” he noted.
At the same time, the company also wants to build new brands and turn its existing brands into mega brands, Ganorkar said.
“We want to introduce new products ahead of the competition. And we want to make products available in supply chain. So looking at all these factors, long-term will help us to increase our market share,” he added. Things were going in the right direction, but COVID-19 pandemic has put a new challenge for the company, he said.
Commenting on company’s growth plans in the US generics business, Sun Pharma CEO (North America Business) Abhay Gandhi said the drug maker has a pipeline of 98 ANDAs (Abbreviated New Drug Application) and five NDAs.
“So the pipeline is strong. On pricing, we still see pressure on pricing, and we don’t see that abating in the near term or even in the mid-term, if I say so. So we keep hoping, but I haven’t seen that happening,” he noted.
On a question related to Japanese business, Shanghvi said the company continues to look at opportunities to invest in the country. “The first priority and focus for us, of course, would be to launch Ilumya once it is approved in Japan and for which we would be creating a significant organisational capability,” he said.
Besides, the company will continue to look at attractive opportunities, where it can leverage effectively existing presence and look at opportunity to grow the business, Shanghvi added.