Mankind Pharma targets global expansion with niche products, focusing strongly on India’s pharmaceutical market.

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Mankind Pharma, a renowned name in the Indian pharmaceutical sector, is making headlines with its strategic move towards exploring the international market, focusing particularly on niche products.

Despite this new venture, the company’s Vice Chairman, Rajeev Juneja, reassures that its heart remains on serving the domestic market, which has always been its stronghold.

Home Ground is Key

Rajeev Juneja shared insights into the company’s strategy and plans.

He pointed out that Mankind Pharma has traditionally focused over 90% of its efforts on the Indian market.

“The export market looks promising, but it is uncertain how long this golden run will last. Our priority has always been, and will continue to be the domestic market,” Juneja explained.

This statement highlights the company’s commitment to maintaining its dominance in the Indian pharmaceutical industry while cautiously exploring opportunities abroad.

Remarkable Growth in Exports

Despite its focus on the domestic market, Mankind Pharma has witnessed unprecedented growth in its export revenues, especially in the last quarter of 2023.

The company reported a staggering 118% increase in export revenue to ₹207 crore, thanks to unique opportunities in the U.S. market.

Mankind Pharma’s international footprint extends beyond the U.S., reaching countries such as Sri Lanka, Nepal, Chile, and Kenya.

The company has seen a consistent increase in export revenue, with a 154% growth reported over the nine months ending in December 2023.

The Strategy for Success: Niche Products

As Mankind Pharma sets its sights on the international market, it focuses on niche products.

These products stand out due to their complexity, manufacturing challenges, and high entry barriers.

“We aim to bring unique, high-quality products to the international market. Our success on the domestic front gives us the confidence to make this move,” said Juneja.

This selective export approach signifies the company’s ambition to establish a significant presence in the global market through specialized offerings.

Domestic Market Continues to Flourish

Back home, Mankind Pharma continues to thrive, with a 20% growth in its domestic business in the last quarter.

The company attributes this success to its performance in chronic therapies, anti-infective recovery, and strong sales in modern trade and hospitals.

Moreover, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) witnessed a 39% increase, reaching ₹611 crore, with an improved margin of 23.4%.

Juneja expressed optimism about maintaining a healthy margin between 24% and 26%.

In Summary

Mankind Pharma’s strategic balance between nurturing its domestic market roots and branching into the international arena with a focused approach to niche products showcases its growth-oriented vision.

As the company navigates the complexities of the global pharmaceutical landscape, its strategic initiatives are poised to foster domestic and international growth, reinforcing its position as a key player.

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