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DAICHI & ABBOTT’S BUYOUT WAS UNREONABLE IN MARKET VALUE & PROSPECTIVE SELLERS ARE NOW ASKING FOR FORTUNE TO SHOP OUT – NARAYAN GAD-

DAICHI & ABBOTT’S BUYOUT WAS UNREONABLE IN MARKET VALUE & PROSPECTIVE SELLERS ARE NOW ASKING FOR FORTUNE TO SHOP OUT – NARAYAN GAD-

I would be very happy to see ‘discovered in India’ label on some brands before 2020 ! 
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Dr Rashmi in conversation with Satya Brahma, Chairman & Editor-In-Chief of Pharmaleaders Group on Monday, 22nd November 2010.

Mumbai : 23rd November 2010 : Narayan Gad is a tough man to understand & knows his game plan very well. He is always known to be an aggressive & fiery marketing guy & a tough man to deal with. Those who know him very closely like me will say that he has always listened to his heart & is always straightforward & frank in his approach whenever it comes to pharmaceutical business as he is bold enough to say that the year 2010 made a distinctive mark in the healthcare industry as three major buy-outs dominated the healthcare sector in a rather unprecedented & unreasonable in market values as he says “I don’t see much happening on buyouts till 2015. Reason being aspiration of prospective sellers has gone sky high with the valuation given by Diachi and Abbott. However, once we return to reasonable valuations, there will definitely be such activity between 2015 and 2020”… The prospective sellers will be (A) : Companies which find it difficult to manage ‘size’.( B )Companies where next gen may not be adequate.
In an exclusive interview to Satya Brahma, Chairman & Editor-In-Chief of Pharmaleaders Group, Narayan Gad, CEO, Formulations of Panacea Biotech answered some of the direct questions which others choose to ignore as he said on a question on Panacea’s foray into other markets in the second quarter of the new millennium “Panacea is no exception. Every R&D driven company will aspire to bring new molecules. I would be very happy to see ‘discovered in India’ label on some brands before 2020 !”.. On asked why will he dream to be different in 2020 he said “I dare to dream. However, there will also be a need to dream of innovative ways to fulfil THE dream”. Gad’s tryst with Indian Healthcare Industry is very long as he has seen working with giants like Dr Reddy’s, Wockhardt, Nicholas etc. The notable feature of Gad’s style of leadership is evident from the fact that he speaks his mind & listens to his heart unlike others.
The year 2020 will be different as Gad put “While sitting in 2010 and I visualise 2020, the following images come to my mind : A) Customers( 1) Will move from being demanding to being completely unreasonable (2) in every other industry, be it industrial products or consumer products, unreasonableness has already begun and doctors as customers of pharma will follow suit.). When I say unreasonable, I am talking about the way it appears to us at that moment. Very soon what was unreasonable becomes a legitimate expectation. Pharma industry will have to enlist TODAY the unreasonable expectations likely to come up by 2020 and have a plan of action to deal with them. 2) With knowledge and information being available at the click of a button, doctors will have information overload. They would expect pharma companies to customise this information for their specific needs. The rule will be n = 1. We cannot say we have n number of customers. We will have to say, we have n number of information needs to fulfil, where n = 1. 3) In the urban area, the intensity of competition amongst doctors will become very intense, because of density of doctor population in a given geography. Doctors would expect pharma companies to drive footfalls as well as enable them to come up with loyalty programs for patients. He added. On being asked about the stakeholders mindset, Gad was candid enough to say Much as we may wish, financial appeasement will never go. Doctors are increasingly becoming aware of their POWER in creating brands. Hence, would become increasingly demanding. If ‘all’ companies do financial appeasement, the competitive advantage to company will be lost ! Competitive advantage will come from combining financial appeasement with appeasement through ENABLING a doctor to survive (competition), grow and build a loyal patient base”.

Full text of the interview will be available in the December Issue of Pharmaleaders Magazine @ www.pharmaleaders.co.in

PHARMALEADERS

Pharmaleaders is India’s first opinion based & research driven bi-monthly magazine & has a decade of relentless reporting in Pharma Journalism in an unbiased, fearless & independent way. Over the last one decade, The Magazine has covered some of the biggest voices in the healthcare Industry. Available both in digital & printed format, Pharmaleaders has emerged out as a leading title in voicing the opinion of the healthcare industry.

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