Zydus Pharmaceuticals launches Commercial Operations in Mexico
Zydus Pharmaceuticals of India celebrated the launch of its commercial operations in Mexico by hosting an event in Hotel J.W.Marriott, Polanco, Mexico City on 23rd July 2013 which included a dinner and Bollywood dance programme. Ambassador of India to Mexico Sujan R. Chinoy participated in the event for which Zydus executives – Mr Ganesh Nayak, Chief Operating Officer & Executive Director and Mr Prashant Desai, Vice President Operations USA & Mexico also flew in from India.
Zydus Pharmaceuticals has a presence in more than 30 countries with 20 manufacturing plants, with over 300 products and 15000 employees. Zydus ranks as the 5th largest company in India and is among the top 10 generics companies in the US. Zydus has become a global player in recent years with focus on research & development. Zydus has 4 R&D centres and 8 new molecules in development. Last month, Zydus announced that Indian regulators had cleared it to start selling an innovative new diabetes drug – the first new chemical entity, discovered and developed entirely in India, to reach the market. Lipaglyn, which controls high blood sugar and cholesterol with a single pill, will be launched in India in coming months, and Zydus is seeking regulatory clearance to sell it globally.
In his address at the event, Ambassador Chinoy said India is now among the top five pharmaceutical emerging markets and that the Indian pharmaceutical industry is well known for its competitiveness in the manufacture of complex drugs and development of technologies. The Indian pharmaceutical industry has been growing at a compounded annual growth rate of more than 15 per cent over the last five years and has significant growth opportunities. The Indian pharmaceutical sector is expected to grow five-fold to reach US$ 91 billion by 2020. Last year, the industry registered exports of US$ 13 billion at a growth rate of 30 per cent. The Government has also planned a ‘Pharma India’ brand promotion action plan spanning a three-year period to give an impetus to generic exports. He added that in Latin America, Mexico is a country of great promise. Already the largest trading nation in the region, Mexico’s trillion dollar plus economy is growing at about 4 % annually. Mexico is fast emerging as a global manufacturing hub, given its excellent infrastructure and connectivity with the US, a large labour pool, low wages, high productivity and highly developed supply chains. Mexico is a very important partner for India in the Latin American region. Bilateral trade has increased at over 40 per cent per annum in recent years, touching US$ 6.3 billion in 2012. About 35 Indian companies have already established a present in Mexico, including in IT, pharmaceuticals and auto components. Mexican investments in India too are on the rise. (Video of the launch event may be accessed on Youtube at http://www.youtube.com/watch?v=cuS8mgRThFo&feature=youtu.be)
25 July 2013