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By Anmol Motwani | Journalist & Industry Analyst – Tue, 05/21/2024 – 09:43
Q: Pharmalab India turns 60 this year. What core strengths have propelled the company’s success?
JS: This is a significant milestone for us. Over these six decades, the company’s success has been driven by a steadfast commitment to quality, innovation, and technology. These principles have been integral to our operations since our inception, enabling us to prioritize assisting customers in enhancing their processes and outcomes across various industries. Our dedication to these core values played a pivotal role in fostering strong customer loyalty, which has been crucial to our enduring success.
Q: What led Pharmalab India to explore the Mexican market?
JS: The decision to explore the Mexican market stemmed from several key factors. First, we recognized similarities in culture between India and Mexico, along with a shared price sensitivity among consumers. After COVID-19, many countries, including Mexico, prioritized building their own health infrastructure and manufacturing essential drugs domestically to mitigate supply chain disruptions, such as those experienced during the pandemic. We observed a growing emphasis on quality and a diligent workforce in Mexico’s pharmaceutical industry, indicating a conducive environment for growth.
As global regulations in the healthcare sector become more standardized, we anticipate significant advances in Mexico’s healthcare sector over the next five years. Given the increasing prevalence of diseases like cancer, there is a pressing need for trials and investments in drug development, making Mexico an attractive market for expansion.
Q: What drove the collaboration between Pharmalab India and T5DC in Mexico?
AK: The infrastructure, establishment and, most importantly, the core values of Pharmalab and T5DC have commonalities. We share the common objective of delivering global technologies that aim to achieve customer satisfaction through excellence, paving the way to help us reach our goal together and driving our collaboration.
Q: How has Pharmalab India integrated AI into its operations to keep up with industry trends and advances?
JS: Pharmalab has always been the market leader for innovative technologies in the pharmaceutical industry. Quality, innovation, and technology have been the mantra of Pharmalab since 1962. Along with this, we have always ascertained to address the customer’s challenges through our innovative solutions.
Using AI technology, we have developed systems that analyze set parameters, and suggest methodologies to optimize processes. This provides an edge for obtaining high performance with guaranteed safe operation. Our AI-assisted systems also are designed to pre-empt problems and efficiently reduce equipment downtime.
Q: How has Pharmalab India successfully navigated and capitalized on the Mexican market?
AK: The Mexican pharmaceutical industry is growing and aiming to establish itself as an innovation-driven and globally compliant regulated market. This provided Pharmalab an opportunity to contribute to the increasing standards of the Mexican market. Pharmalab leveraged its experience in globally regulated markets such as the United States to introduce the latest technologies and provided the means to adhere to the regulatory guidelines.
We have actively worked with growing companies and provided solutions that have proven to be catalysts in their aim to secure regulatory approvals.
Q: What are the company’s long-term ambitions regarding market leadership and sustainability?
JS: The company aspires to become a market leader not just in India but globally, emphasizing a long-term vision over short-term gains. This commitment to sustained excellence is exemplified by the longevity of its equipment, some still in operation since the 1970s. By prioritizing quality and enduring relationships over quick wins, the company aims to cultivate a reputation for reliability and customer satisfaction, fostering growth through word-of-mouth referrals. This approach underscores its dedication to both short-term success and enduring leadership in the industry.
