Indian Pharmaceutical Industry has symbolically positioned itself as the next biggest in terms of quantity and the thirteen largest regarding values globally going by the report of Equity Master. The industry has mapped a long path from being of prime importance in the 1950s to a manufacturing hub of active pharmaceutical ingredients today. The major ingredients powering and fueling the growth of the Indian Pharma, the Indian Pharmaceutical companies are burgeoning and the credit goes to increased government expenses on health and the increasing health awareness amongst its people. Among the domain, with its commitment of resolving health issues by delivering value-added and cost-effective health solutions to people, Century Pharmaceuticals has flung its wings as one of the largest pharmaceutical companies established in the year 1982 and evolving as a supplier of repute for APIs to the global pharmaceutical companies in India and abroad.
Perpetually dedicated to API Products, API-Research, Animal Health, and Biotechnology, Century Pharmaceuticals has clocked a tremendous growth over its stretch of 39 years as a reputed and renowned organization. Under the hegemony of Dr. Janak Sheth, Managing Director, the firm has underscored its commitment to creating value for all their customers, partners, and employees while applying environment-friendly and socially responsible business practices fostering ‘Excellence’.
The USP of Century Pharmaceuticals includes quality, regulatory support, timely delivery and quick response to customer queries that make it stand out in the market. Through collaborations and partnerships, innovative research and contract research services, they are working for customers to leverage their expertise and experience to produce products and services cost-effectively and with greater reliability.
THE MAN BEHIND THE BRAND
An entrepreneur, a leader and a proactive business partner, Dr. Janak Sheth has taken the fortunes of Century Pharmaceuticals to be recognised as a pharmaceutical industry of repute and recognition in India. He holds over 4 decades of industry experience and has been quite active in the industry circles fighting for the MSME sector and also towards building exports from India by taking several delegations abroad especially in new markets.
As a respected professional in the industry, he has been invited to several forums for his views on the industry and to encourage young professionals in academia and industry. In academics, Dr. Janak Sheth did B. Tech from IIT, Delhi and a Hon PhD from a South Korean University.
PRODUCTS ON OFFER
Initially, Century Pharmaceuticals started manufacturing APIs with only three products, and the product range has grown to a wide basket of products with different therapeutic segments- Acenocoumarol, Amlodipine Besylate, Azithromycin Dihydrate, Bimatoprost, Empagliflozin, Erythromycin, and all its salts, Flibensarin, Fluticasone Propionate, Gramicidin, Latanoprost, Oxytetracycline, Palonosetron Hcl, Tadalafil, etc to name a few.
Moreover, they are developing new products in their R&D with a focus on low volume and high prices. They are also engaged in a drug discovery program for recombinant fusion proteins for the treatment and cure for Asthma and Allergies. Century Pharmaceuticals has been also involved in Stem cell research for the last 6 years for the treatment of various lifestyle and other diseases for which there is no cure today.
OVERCOMING THE HICCUPS
Century has to face stiff and unhealthy competition from China. The costs in China are much lower owing to relaxation in effluent treatment standards, lower cost of capital and export rebates. However, owing to consistency in quality and service the company is able to offset a major part of this challenge.
Another major issue is finding a perfect business partner for their novel molecule for Asthma and Allergy. It is truly a unique molecule with a future owing to the targeted therapy approach. But large Indian companies are not interested in investing in research and hence we have yet to be able to encash the true potential of this molecule.
CLIENTELE
The partial list of customers includes Pfizer, Abbott, Glenmark, Polfarma, Suanfarma, Teva pharmaceuticals, Macleods, Intas Pharmaceuticals, Zydus Cadila, Glenmark, Aristo pharmaceuticals and other Indian players in the Pharmaceutical industry.
Being a customer-centric company, Century Pharmaceuticals strives hard to satisfy changing customer needs.They have an internal policy that once a customer is always the customer. Moreover, they empower customer’s business growth by satisfying their special quality and other needs and encouraging cross-selling.
A GLIMPSE OF THE INDIAN PHARMACEUTICAL INDUSTRY
Indian Pharmaceutical Industry is at a vantage point. Several new industries are being set up and the quality standards and systems are being upgraded. It is expected that there will be some attrition of the smaller and less quality conscious manufacturers while those which have strict compliance with GMP will get better opportunities. The Indian quality standards are being appreciated in several markets and they have a distinct edge over competitors owing to large volumes being manufactured cost-effectively for our 1.3 billion people.
CORPORATE CULTURE
Century Pharmaceuticals holds a transparent system and is an innovation driven company that encourage new ideas which help the company to improve the quality and costs from time to time. With a competitive spirit and constant encouragement at Century Pharmaceuticals, employees strive to bring about positive changes consistently.
SECRET BEHIND THE SUCCESS
Century Pharmaceuticals has an excellent track record both in terms of service and quality standard of products and always maintains excellent relationships with customers that support the company.
Further Dr. Janak Sheth shares, “In real life the markets move in cycles and if we support the customers during a difficult period, they maintain their loyalty during slack times.”
FEATHERS IN THE CAP
- 2007-Gold medal from Lockheed Martin for best innovation in Biotech technology
- DSIR recognized R and D unit 2008
- 2010 – New US FDA approvable manufacturing plant.
- 2012- MSME award year 2012 by FGI, Gujarat
- Fair Business Practices (Indian Council for Fair Businesses)
- Gold Medal for excellence in Business Practices (Switzerland)
- Excellence award for Exports (Indian council for Small & Medium size exporters)
- Excellence for Innovation, Quality, Productivity, Management (IES, India)
- “Dr. Janak K Sheth” has been awarded as Top 30 CEO on Innovation CEO of the year 2014.
- Quality Mark award for two year consecutive year 2016 and 2017
CORPORATE SOCIAL RESPONSIBILITIES
Business is not just marketing, sales and profits. One of the major challenges of modern world is to save the environment. Century Pharmaceuticals is a green company with a zero discharge effluent policy. Not only this but they recycle most of the treated water and control fresh water use. They also have solar lights for all lighting purpose and they recharge bore wells with the rainwater in their premises. Presently, they are generating about 50% of their power needs with the a rooftop solar power plant.
ROAD AHEAD
Century Pharmaceuticals is poised for a higher level of growth and planning to expand its geographic reach and product range both. Owing to this flair for exports and a desire to make the best quality product, and in the coming days, the company plans to expand its footprint in more difficult markets while growing rapidly on the home front.
