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Revenue growth, operational excellence, cost management & productivity top priorities for Piramal Ph.


Date: 04-12-2023
Subject: Revenue growth, operational excellence, cost management & productivity top priorities for Piramal Ph
Nandini Piramal, Chairperson, Piramal Pharma, says “in the CDMO business services, service is a differentiator along with quality. We have had our last five audits with the USFDA, and we have got EIRs for all of them and so, that is one of those things where quality, I think is a differentiator and it makes a difference when customers come to our plants, they talk to the people, not just regulatory audits. We have a lot of customer audits, and they can see t ..

I think this is the first interaction we are having with you as Piramal Pharma management. Up till now, you have been working hard in the background.


So let us talk about Piramal Pharma's broad vision because pharma is something, I think you have grown up observing your mother and the company in the previous avatar. In this role, and in this avatar of Piramal Pharma, what is the broad vision of the management for the next three to five years? Of the three segments you are operating in, CDMO is the biggest one. What is the full-blown potential which the management team is aiming at overall?


We grew up as a pharma company, and I want to emphasise the values that we started out with, which were knowledge, action, care, and impact. Those values are still very much part of us. And as a member of the Piramal group, if you look at the purpose, it is also like doing well and doing good. And as a pharma company, one of the things that we put at the centre of what we do is both patients and consumers.


So let us talk about Piramal Pharma's broad vision because pharma is something, I think you have grown up observing your mother and the company in the previous avatar. In this role, and in this avatar of Piramal Pharma, what is the broad vision of the management for the next three to five years? Of the three segments you are operating in, CDMO is the biggest one. What is the full-blown potential which the management team is aiming at overall?


We grew up as a pharma company, and I want to emphasise the values that we started out with, which were knowledge, action, care, and impact. Those values are still very much part of us. And as a member of the Piramal group, if you look at the purpose, it is also like doing well and doing good. And as a pharma company, one of the things that we put at the centre of what we do is both patients and consumers.

We think we have relevant cards to play in each of these three businesses. We think we can make a difference. We can grow profitably above 15% as a company, and we can see a path towards margin expansion.


Sure. You very categorically put it, even in your recent communication to the investors as well, that you have an upward trajectory and visibility of margins from here on, a kind of high teens growth as well. Let us break it down. You are a billion dollar company in terms of top line with upward bias on margins. We are talking about three to five years, the opportunity size in the three segments, CDMO, injectable, complex API, and OTC?


See, I think the markets in these are huge, The market overall is huge, there is opportunity, and it is a fragmented market. There are a lot of opportunities for growth in various pockets. I think we are still pretty small. So, that gives us headroom to grow. In each of these businesses, we have a unique strategy which can help us pay dividends.


In the CDMO, we are actually placed in 17 sites across the world, whether it is in the US, UK, and India. That helps us because we can go to a customer and say, look, we will solve your problem. Tell us how you want to solve your problem, right? So, if you want to make it in the US because your board of directors is saying, we want to reassure them that we can do it there. If you want to do it in India, and you want to do China plus one strategy that is something we can also do. So, we are open  ..

The other thing that we have and that we can offer to our customers is integrated products. We had a customer that was doing really well, the product was doing well, but their board said, no, we want to make it in the US. So, we actually went to them and said look, we can make stages one to three in India and we will do the final things in the US for you. And that way, we can double volumes in the US. You will still get a made in US, but you will also get the made in India volume benefits, right ..

So, those are the kind of things that we can provide to customers. There are some people who say, look, I only want “made in India”. Then we are like, “come”.


Yes. So, in the CDMO business services, service is a differentiator along with quality. We have had our last five audits with the USFDA, and we have got EIRs for all of them and so, that is one of those things where quality, I think is a differentiator and it makes a difference when customers come to our plants, they talk to the people, not just regulatory audits. We have a lot of customer audits, and they can see the difference.


 Source Name : Economic Times
 

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