Rooted in Gujarat, yet focussed on the globe. With its plasma protein initiative, Intas Biopharmaceuticals displays a savvy business sense by entering a less attractive but potentially lucrative segment. Suja Nair traces their journey
"Celestial is the only player in India, which sources plasma from various blood banks in India, and obtains fractionated plasma proteins through a contractual arrangement" - Dr Urmish Chudgar Managing Director IBPL
Incorporated by Hasmukh Chudgar in 1976, Intas Biopharmaceuticals Limited (IBPL) has come a long way. From a small unit at Vatva, near Ahmedabad, IBPL entered mainstream pharma market, showing consistent growth over the years. Since the launch of biotechnology operations in May 2000, R&D and manufacturing of biopharmaceutical products, with a special focus on oncology, have been major thrust areas for the company. According to Dr Urmish Chudgar, Managing Director, IBPL, "Starting with bio-generics, IBPL has structured its progression to the development of proprietary and innovative recombinant biopharmaceuticals. IBPL derives its competitive edge from successful and strategic moves it has made in the areas of R&D, manufacturing, marketing and global operations." The company has successfully launched bio-similar products like Neukine (rHu G-CSF), Erykine and Epofit (rHu EPO), Intalfa (rHu IFN Alfa-2b), and Neupeg (Pegylated rHu G-CSF). According to Mani Iyer, Executive Director, IBPL, "Our bottom line sales have been strong throughout past fiscal. With the launch of Neupeg (Peg Filgrastim), we have gained monopoly in the domestic market in terms of being sole manufacturers of Peg Filgrastim in India. With an array of oncology products and new sales strategy in place for current fiscal, we are looking to grab major market share in the oncology segment."
"Its potent combination of pioneering vision, entrepreneurial spirit, sound infrastructure and ability to adapt to changing times have helped shape Gujarat as a pharma hub" - Mani Iyer Executive Director IBPL
As per ORG IMS report of May 2007, IBPL is amongst the top 20 players in the Indian pharma industry. IBPL is present in South East-Asia and the African continent. Further, with its European venture, the company has also consolidated it’s position in international markets. Its manufacturing unit at Matoda, on the outskirts of Ahmedabad, is rated as one of the best in the Asia-Pacific region, for cytotoxic products with barrier isolation technology. The facility complies with strict international good manufacturing practice (GMP) regulations and has also received the European Union-Good Manufacturing Practice (EU-GMP) and conforms to guidelines laid down by World Health Organization (WHO).
The company has a oncology product basket catering to solid tumours, haematological malignancies and supportive therapies. On the R&D front, IBPL has significant presence in North America with an agreement and MoU with two technology companies. In January 2007, the company committed Rs 13 crore towards conducting clinical trials and producing Factor IX, used for treatment of haemophilia B, through novel transgenic platform. Thereafter, IBPL inked an MoU with Canada-based Viropro for co-development of a novel molecule.
IBPL’s facility at Moraiya, 22 kms from Ahmedabad IBPL has a number of subsidiaries through which it functions; one of them is Indus Biotherapeutics, which is a biopharmaceutical contract research organisation that solely concentrates on research and development of novel targets as well as bio-generics. Another subsidiary that is associated with the company is Celestial Biologicals, which focuses on manufacturing and marketing of plasma-derived products. The company has commenced marketing of plasma proteins—albumin and immunoglobulins (IVIG)—under the brand names of 'Albucel' and 'Globucel' respectively in the Indian market, and has plans to expand its product portfolio. Chudgar adds, "Celestial is the only player in India, which sources plasma from various blood banks in India, and obtains fractionated plasma proteins through a contractual arrangement. There are plans to invest heavily in South Asia's largest plasma fractionation facility, which is focused on being able to offer fractionation services to South Asian nations, apart from India." <snip>
The downside risk stems from India's vigor in pursuit of FoB's (what informs my long position in RDY), which this firm shares.
I have to smile at the reference to building IP. On my view India ranks third as a source of business/investment risk to GTC per IP appropriation, after China and Russia together with its former satrapies. In fairness I should say they seem to be improving.
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