Mankind to venture into anti-psychotics

NEW DELHI: Mankind Pharma, which registered the highest growth in the industry over the last one year, is venturing into the Rs 1,000-crore anti-psychotic drug segment. “We are creating a new division, Future Mankind, by June and will foray into the anti-psychotic drug segment.

The company will invest Rs 30 crore in the new division over the next three years and will launch 30 new drugs,” Mankind Pharma MD R C Juneja told ET. Future Mankind will be the company’s fifth division.

The company had recently created another division, Special Mankind, for its foray into the OTC drug segment. Of the 30 drugs that will be launched under Future Mankind, about 10 drugs would be antipsychotic drugs while others will be acute drugs such as antibiotics and antiinfectants.

Currently, the company has 240 drugs in the market, of which 87 were launched in the last two years. Ten of its brands are ranked No 1 in their respective segments. Last year, the Rs 530-crore company grew by 65%. “We have been able to maintain the growth rate by launching quality drugs in all segments at a low cost, “ Juneja added.

Industry experts opine that unlike the traditional model followed by Indian pharma companies to launch products in metros and then spread out, Mankind’s contrarian moves have paid rich dividends.

“Mankind rose to prominence by focusing on underserved doctors and patients in rural India. When it entered the traditional playgrounds like metros and tier I cities, it had the financial fortitude to compete effectively,” Chrys Capital MD Sanjay Kaul said.

Juneja said that the company does not plan to get listed for the next two years and will enter into collaboration with global pharma companies after it touches the Rs 1000-crore turnover. The company is targeting Rs 1,100 topline by 2010.