Neolpharma Growth Poised on Cardio-MetabolicsWed, 09/07/2016 - 09:36
Q: How has Neolpharma and the companies it encompasses grown and expanded in the last year and what are the main strategies and drivers of growth?
A: Grupo Neolpharma’s growth rate slightly surpasses the market average. We strategize in a way that our role in every drug segment is secured especially in regards to prescription drugs. We continue to expand our product lines. Grupo Neolpharma’s newly created cardio-metabolic health branch will have a great impact on our operations, which will be released in the following months. After this, we expect double digit growth. Finally, the group will continue to industrialize its procedures and internal structures.
Q: What other new areas of specialization is the company expanding to?
A: Grupo Neolpharma will release a neuropsychiatric product in 2016. The company is looking into different alternatives to drop costs in biotechnological product releases as clinical trial costs remain one of our biggest deterrents. This is a national problem that must be carefully analyzed if we expect a healthy Mexican biogeneric market segment. Producing this type of drug is not difficult but creating molecule bio-comparability is. Investing in characterization studies could reduce the number of subjects needed for successful clinical studies as recently promoted by the World Health Organization (WHO).
Q: How much competition do you face against pharmacy owned branded generics at the point of sale?
A: Competition will evolve in the near future and the market will see premium products. The company’s production plants have been built with state-of-the-art technology. We do not want to engage in competition with pharmacy owned brands as their prices do not reflect their costs. Survival prices are not uncommon in this market segment, which does not fit Grupo Neolpharma’s business strategy. We are a company with highly competitive product offerings maintaining top quality at all times.
Due to Mikel Arriola’s newly implemented COFEPRIS, the perception of Mexico’s pharmaceutical industry isimproving worldwide. The country is now a reference point for the Pan-American Health Organization (PAHO). Grupo Neolpharma will adapt its medicine manufacturing practices to the new NOM-059-SSA1-2015. In fact, the company has adapted its operations to the new NOM beforehand, gaining ground on its competitors.
Q: With Grupo Neolpharma’s new cluster investment of MX$750 million (US$19 million), what products are you aiming to manufacture and what type of growth will the company see?
A: This investment falls in line with our internationalization plans, as it will cover most of our export demand. Neolpharma’s new laboratory is added to four existing manufacturing plants in the country increasing the company’s production capacity by 150 million units per year. Our business projections for 2020 foresee double the growth of 2015. Grupo Neolpharma will incorporate a broad range of products in a multiplicity of markets. To this day, our Central and South American operations have a total of 16 distribution points further pushing our growth to new grounds. Our new cluster positions us as the largest drug manufacturer in Mexico’s key segments.
Q: What collaborations have you established?
A: We collaborate with multiple universities like UNAM to develop the right talent in areas where it is needed the most.
Grupo Neolpharma is working with the Center of Investigation and Advanced Studies (CINVESTAV) in granting awards in the nanotechnology field. This is a focal point for the group’s future development as it will release a new nanotechnology product line in years to come directly supporting the growth expected by 2020. We are also working with CINVESTAV on new product developments with neurological and oncological applications.
Finally, Grupo Neolpharma commercializes an orphan drug patent with oncological applications in the US market developed alongside National Instute of Cancerology (INCan).