Being an essential part of the Pharmaceutical industry, India is the hub of generic medicines and contributes around 50 per cent of demands of the drugs and vaccines. BW Healthcareworld had a conversation with Mr Sandeep Toshniwal, CEO, Eurolife Healthcare Pvt. Ltd. about the industry and how their company, Eurolife plans to outspread in the European market.
Q. What is behind the Eurolife’s ambition to enter the European market and what is the potential of the market?
Answer- Eurolife wants to be the world’s no. 1 intravenous infusion producer and to achieve that goal, the European and US markets are essential since they are amongst the largest markets in the world for pharmaceuticals.
The European market is worth over 15 billion euros for infusions alone and growing at 4 to 5 per cent annually. The potential is tremendous for Eurolife to enter and grow in this market.
Q. What is the market size of generic medicines in India and globally?
Answer- Generic medicines market in India is over 10 billion USD and expected to grow to 25 billion by 2025. Globally, the market runs into trillions of dollars.
Q. How will Teva's acquisition help Eurolife strategically?
Answer- It gives us an immediate footprint in manufacturing in the European markets, saving us a tremendous amount of time. Also, the plant is located in central Europe allows us access to all countries in western and eastern Europe easily and distribution across Europe becomes very efficient for us. Finally, it also gives us access to the US markets from our European manufacturing facilities.
Q. What are your views on recent allowance on 100 per cent FDI and how it will impact the pharmaceutical industry?
Answer- I think this is a very positive development and will open up the market to several global cutting edge pharmaceutical companies. It will give Indian companies a chance to align with global giants in areas where we are weak, like NCE development, R&D etc.
Q. What are the future plans of Eurolife both in India and globally?
Answer- Eurolife is tripling its capacity in India to become the dominant IV company in India. Our current market share is over 20 per cent, which we plan to take to over 50 per cent in the next 2 to 3 years. We are also planning a slew of launches of an advanced range of products which will help patients get the best treatment possible in the world.
Eurolife also plans to expand further at its European facility, to build the world’s largest IV plant in terms of capacity with over 500 mn bottles per year to service the European and US markets.