India is no longer a laggard when it comes to the race of bio-innovation. It's an area every top player in the pharma space agrees upon. CNBC-TV18'S Archana Shukla reports that the pharma top-bosses in attendance at the BioAsia summit believe India's focus on relevant solutions remains its biggest advantage.
So what if India has been a slow starter in the race to churn out blockbuster new molecules? But they're also quick to point out that a lot of this innovation stems from necessity -- the necessity to come up with affordable drugs.
"We have developed many drugs that suit Indian requirements. We recently developed novel Rotavirus vaccine that is relevant to Indian disease profile" says Krishna Ella, MD, Bharat Biotech.
Also read: Dipan Mehta positive on pharma stocks
On curing India and other EMs, Sanjiv Navangul, MD, Janssen India comments, "Invested a lot in clinical trials and the understanding of science has improved."
On trying to understand what is stopping India from taking the next big plunge, Maninder Hora, Sr VP - Pharma Devpt and Manu Ops, Nektar Therapeutics says India needs an appetite for risk taking. On the other hand, Rogerio Riberio, Sr VP - Emerging Markets, GSK says, "Need to think of portfolio, because investments are huge. Need to assess where Indian companies want to be."
But every expert felt this growth spurt is sustainable only if the policy environment remains supportive. And then, there's the need to differentiate strategy from making generic drugs to taking a risk with new molecules.
"If generic is a 100 metre sprint, innovative drug is a marathon" comments Hora.
GV Prasad, CEO, Dr Reddy's Labs says, "As a public company, I have to look at earnings growth too. Now I invest 12% in Research and Development, anything beyond that will start hurting my business. This is a delicate game of balance."
Meanwhile, experts caution that so far, on a global scale, very few generic companies like Israel-based Teva have made this transition. But it's still too early to gauge Teva's long-term success and what's good for the goose, may not always be good for the gander.
Dr Reddys Labs stock price
On February 28, 2014, Dr Reddys Laboratories closed at Rs 2901.55, up Rs 67.60, or 2.39 percent. The 52-week high of the share was Rs 2939.80 and the 52-week low was Rs 1720.50.
The company's trailing 12-month (TTM) EPS was at Rs 108.14 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 26.83. The latest book value of the company is Rs 457.56 per share. At current value, the price-to-book value of the company is 6.34.
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