DGM (Diabetes Care), Wockhardt Ltd., Talks About Opportunities for MBAs in Pharma Industry at SIIB

DGM (Diabetes Care), Wockhardt Ltd., Talks About Opportunities for MBAs in Pharma Industry at SIIB

Mr. Ramprasad Bhat, DGM (Diabetes Care), Wockhardt Ltd., visited Symbiosis Institute of International Business (SIIB) on 17th August to deliver a lecture on "Opportunities in Pharma Sector". An ITM Mumbai alumnus, Mr. Bhat has done his Executive Diploma in Management from IIM Bangalore.

He has the distinction of being adjudged "Excellent Employee at Wockhardt" for 4 consecutive years, which also includes "Chairman's Special Contribution Award in 2002", speaks volumes of his talent and performance.

He started by describing how Indian society is getting drawn into a lifestyle wherein the chances of a person catching a lifestyle related disease, especially diabetes, which has reached almost epidemic levels, are increasing day by day. A diabetic person is one who lacks insulin hormone, which is required to transport glucose to cells. Diabetes may affect the patient's kidneys, eyes, nerves, heart and blood vessels. Several celebrities like Halle Berry, Naseerudin Shah and Wasim Akram are diabetic. As per the WHO and Stockist Secondary Audit Data, there are about 40 million Indians suffering from diabetes. Also what is more disturbing is the fact that every 5th diabetic patient in the world is an Indian. He stated various factors like genetic pre-disposition, insulin resistance and central obesity among Indians which make them more susceptible to diseases like diabetes. Also the changing lifestyles are adding on to these factors, in Mr. Bhat`s words, "Kyunki TV Se Obesity Hota Hai".

The Indian pharma industry is one of the largest growing industries in the country today. The industry is currently worth about Rs. 28,000 Crore and it is growing by a phenomenal rate of 14%. Indian companies cater to almost 80% of the market. The real growth that is being predicted will come from rural India and Class I towns. Also what is very interesting is the fact that although chronic therapy is only 24% constituent in the market against acute therapy which is 76%, the growth in chronic therapy will be far more than that in acute therapy. The very fact that profit margins are up-to 80% makes the pharmacy sector one of the sectors to look out for in the future.

Mr. Bhat mentioned the various strategies being adopted by the industry players for market penetration and higher market shares. These include product developments, price adjustments, acquisitions, retailing and training doctors. Wockhardt on its part is providing the complete portfolio of medical solutions - oral pills, insulin, devices and nutritional products - for curing all sorts of diseases. Recently, they received a letter of appreciation from erstwhile president, Dr. Abdul Kalam Azad, for successfully generating recombinant human insulin.

The evolving sector provides excellent opportunities for young management pass-outs to make a mark for themselves. Mr. Bhat identified the areas such as marketing, sales, market research, HR, acquisitions, supply chain management, retailing and ERP where the requirements for MBAs will be. He also replied to queries from students on topics like brand building, ethical issues, competition with MNCs and future developments in the sector.

Concluded.

Contributed by -
Manish Malu, (Campus Associate),
SIIB, Pune.

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