Challenges in the Business Development / Marketing in Pharma Industry - Post COVID 19 Pandemic Era-Sathish P.M. MBA, LLM (UK), Management Consultant.

Some years before Indian Generic manufacturing Companies were manufacturing products against the order or on the basis of the demand projections from the world market. It was a challenge that they were unable to meet the growing demands from USA, Europe and Emerging markets in the world. The Pharma manufacturing companies used to manufacture the products API or Formulations on the basis of the demands existing in the market which are projected by way of Market research conducted by them or on the basis of the information from outside agencies, and projections done by the customers from all over the world. Once they validate a product for commercialization, then they need to focus more on the Supply Chain Management or Distribution only. They used to do the balancing act by identifying the new lines of products which are in great demand, and making adjustments in the production plan. A good combination of the hot selling portfolios used to create good surplus for these Pharma companies. The pharmaceutical industry have been never under the spotlight in such a conjoined, simultaneous, global capacity. (Reference : Pharma Industry Experts).

COVID 19 had created a new challenge in the industry because of the fact that for example API manufacturing companies have produced several of their products and kept them in the warehouses in anticipation of the demand projections. But the buyers are not buying many of the finished product materials and the it is very slow, because of the production capabilities / issues in their countries due to C 19 pandemic situation. For example a Formulation Unit of a Pharma MNC in Europe who usually buy their API from India have to stop the production because of the demand for the products in their country due to C19 protocols and restrictions, because of the crowding of personnel in their manufacturing units causing the Social Distancing concerns or other prevailing condition in their country, for which the regulators in that Company had imposed restrictions.

The medical institutions or hospitals in the countries are also not working normally resulting in the orders received by the Formulation Companies through their Distributors have also gone down. Many of the hospitals in India or globally are not getting usual business due to the apprehension of the customers that once they visit the hospitals they may get contracted or vulnerable to the C 19 infections. This is also correct and unless this phobia is removed, the patients will visit the hospitals only on extreme compassionate situations. Now anybody who have some ailment or require some surgical correction, are postponing their consultations because of the C19 Infection scare. The author of this article itself feel that visiting any hospital is a Risk. If the Health Care Industry try to change this mind set, then the patients will started coming to the hospitals and the demand for the pharmaceutical products also will increase. They need to create a very C19 - safe environment in the hospitals by creating strict protocols to avoid the crowding and maintaining social distancing measures.

If the Medical Institutions are following strict Sanitization and sterile atmosphere in the hospitals, then patient will come to the hospitals. With an extra cost also if they are able to convince the patients that their institution is C19 Protocol compliant, then the patients will come to the medical institutions for treatment. Now they are postponing the treatments or corrections because of the scare of C19 infection. So what is required is the initiative to win the confidence of the patients, by way of B to C marketing initiatives and awareness may help to change this consumer behavior. Strong C19 Protocol atmosphere in the hospitals will attract the patients.

Government restrictions on the number of people who can attend the factory every day for ensuring the Social Distancing Protocol to prevent the pandemic is a very important factor or issue which causing the decrease in the demand for medical services. In this situation even though during the pre-C19 era the business expected by the API or FML manufacturing Companies in India was on the basis of the projections, but the actual demand after the C19 is not matching with the demand projected, resulting in the piling up of the inventory kept in the factories, DCs and Warehouses. The Companies invariably do their production on the basis of the projections, but it is not in reality happening in the present conditions.

As you know unlike other industry the money / cost / finance required for the manufacture of the API or Formulations is very high, and millions of Dollars are spent on Pharma Chemicals and other raw materials. Cost of one batch inventory (Finished Goods) is very high, and keeping them in the stock indefinitely is a big challenge. If the inventory is lying in the stock unsold for several months, the risk involved are many. But the main risk found can be explained in the following points :-

• Cost of the Storage of the Finished Goods under the climate controlled environment.
• Huge cost dead invested in the Inventory and the interest liability to the Banks for the finance obtained for creating that stock.
• Shelf life issues, because every product have shelf-life which is very important for the quality of the products. After certain period of the storage there will be problems in the quality of the products because of the Stability issues.
• Cost of Security and other incidental Administrative expenses due to the heavy stock lying in the Finished Goods Warehouse and requirement of more space for growing stock piling up from the products manufactured in the existing facility.
• Notional loss occurring to the pharma companies due to the turn over loss since it is not possible for selling the product many times using the same finance. The more the turnover the more the profit for any organization. High cost Inventory lying in the stock unsold will create notional loss.

So what is the solution for this adverse situation ? The Pharma industry has to create very aggressive marketing strategies by identifying the alternate markets or 'Emerging markets' to sell the Inventory. Dynamic Distribution and Supply Chain initiatives to identify the demands and push the products are required. The other strategic points are as follows :-

• Identify the niche market and niche product portfolios and change the production of unsold products to fast moving portfolios in the pharma market.
• Recruit more dynamic marketing team to promote the sales in the emerging markets or new markets. Offering attractive terms of sales to the customers and increasing the quality of the product, so that they buy from us only.
• Increase the Sales and Marketing incentives to the marketing team and motivate them.
• Focus on the R & D initiatives in the Product development and improving the standards of the products.
• Learning and Development initiative for increasing the skills of the Sales and Marketing team.
• Many Pharma Companies have started recruiting successful marketing heads available in the market by way of head hunting and using their skills in increasing their market share.
• Many Pharma Companies in India has joint ventures in developing C19 Vaccines which are in great demand in the world.
• It is difficult in creating a vaccine itself, it is also important in the industry’s ability to communicate the developments, issues and opportunities it presents in multiple languages. When people and interested person in the world are well informed through marketing communication initiative or Business Relations activities, it can create great demand in the market for vaccines developed by the Company.
• Time of entry in the market : In the case of a COVID 19 Vaccines, informing the media and public about how feasible a vaccine is and when it might be available, pharmaceutical companies are working hard to identify the ways they can efficiently collaborate with one other and continue to build business momentum long into the future.
• Creating Virtual Conference by the Sales and Marketing teams and even the Company CEOs and COOs with the customer through various Virtual platforms so that the connectivity is not missing. Whether it’s cancelled conferences, meetings going virtual, sales representatives unable to visit their customers, or researchers having to rely on tech to collaborate with their team and other organizations and institutes, the pharmaceutical business world looks very different to how it did at the beginning of the year.
• New CRM tools to connect to the Customers instead of the traditional ways of working for the industry, now displaced with new alternative services and tools, which are used to strengthen the relationship with the existing customers and motivating them placing orders.
• Developments in translation technology are designed to overcome challenges for pharmaceutical businesses that need to communicate globally, and will become a key part in helping the industry navigate the changing business landscape.  For example with the Google Translate language is no longer a barrier in a business.
• It has been reported that the world Pharma leaders from the developed nations have recently contributed a collective 6.5 Billion GBP for the R & D initiative for developing C 19 vaccines in the world which is a good news. For C19, rest of the world is the market. But the challenge is even C19 vaccine can become obsolete because of the Genetic mutation reportedly happening as per the scientists which is a great challenge on the efficacy of the vaccines once it is launched and started using it . The companies in this market is continuing their R & D and JVs with the foreign partners and they are also in the process of Clinical Trials to prove the efficacy of the Vaccine.
• Cost of the International Conferences and seminars have reduced because of the Virtual Conferencing and the people have no alternative but to adjust with the Virtual conferences. This is a very interesting situation. However, in a bid to save costs and time, as well as reduce the impact on the environment, there has been an increase in demand for services such as multilingual, remote conferencing and interpreting platforms. These facilitate an unlimited number of virtual interpreting booths, accessed remotely by organizers and participants around the world.
• Each user is allocated a qualified linguist who not only translates in whatever language they select as their preferred choice, but who is highly experienced in the pharmaceutical sector so they can translate even the most complex of sector terminology in real time. Word by word translation is not effective in the technological area therefore, a new level of translation is required in this area.
• There was a constraint earlier that people have their own inconvenience in attending conferences or meetings because of hindrance of Place, which is schedule in certain part of the world. Now that businesses can no longer meet at live events or conferences, such virtual interpreting systems and services are proving to be invaluable in virtual meetings where there are participants or audiences from around the world. But now Virtual conference is removing this hindrance, and people can attend Virtual conference even when they are traveling through Tabs, or computers or Smart Phones.
• In the Pharma Industry various exhibitions and Trade shows were very important for the Marketing of many upcoming Companies. But that is not possible for the medium and small scale companies. These Trade Fairs were very important for such Companies in earlier times to showcase their products. We need to find out some alternative methods in showcasing the product through some innovative ways.

Pay-out Analysis:

Let us examine the popular principles of the management, by which the Company is suppose to make financial commitments in the production capacity of the new product. It is interested in the early recovery of such an investment. Under this method, the firm calculates the number of years it takes to recover the total financial commitments made out of annual cash-flows. Cash-flow does not include the depreciation charged. Accordingly that gives earliest pay-out is preferred. It works on the principle that it is wiser to recover earlier.

Pay-out period = Original investment /Annual Cash-flow

Even though it a rough and ready guide to rank the investments commitments, the result are not always reliable. It is very crude method of measuring the profitability. However it pays to check profitability by alternative tests to have more reliable guide.

Digital learning and development (Recommended for the Post C 19 Era :

• As I stated in the previous paragraph, training, workshops, demonstrations and sharing knowledge are all key in the pharmaceutical industry, not just from a research and development point of view, but for the wider business too. Whether companies are thinking about HR, operations, finance or marketing, teams need to communicate, stay motivated and keep on top of the latest learnings, which is where e-learning can come in as referred by me earlier in this article.
• We need to find alternative methods in the learning and development. Digital Learning and development is one of the way in the Post C 19 era, which can replace the conventional learning methods, which is not possible now due to C19 Pandemic scenario. 
• I can suggest the Digital Learning methods like ; Microsoft Team meetings, Zoom Meetings, webinars or podcasts which facilitate digital learning remotely and that would enable Pharma companies to continue to upskill their teams to drive the industry forwards, while those that enable multiple parties to come together on one platform will act as a vessel for collaboration, sharing of knowledge and the chance to work together on projects.  
• There are lot of L & D companies which are engaged in the training, tutorials, forums and workshops in these interactive ways referred. It is also experienced that great value on human interaction is also possible because we can have one-to-one meeting without physically reaching to places. Only constraint is that in an industry like Pharma, which relies inherently on international relationships, this practice will become vital. 
• It is also experienced that any content created for such Virtual meetings are made accessible to the partners around the world. The use of Foreign language, voiceovers and subtitles will help to make the learning material more accessible, helping to build engaged audiences the world over.
• The success of many Netflix or Amazon movies in the OTT platforms in any foreign language by way of Subtitles or Voice overs (more common in the documentaries), and even dubbed versions. The author of this article several years before worked in the United Nations assignment in Cambodia (1992 to 1993) has experienced that popular Bollywood movies were popular in the Cambodia and Vietnam households by way of dubbed versions in Khmer and Vietnamese languages showing in the TV Channels, Film stars like Amithab Bachan, Shatrugnan Sinha, Mithun Chakravarthy, Govinda and Dharmendra were very popular among them then through these dubbed Indian movies, which surprised me that time long back when media was not very advanced during 1990s. So the innovation in the multi media has started very long back and there is no limit to such things for connecting the masses even during that time when the technology was not that advanced.

How Language is very important in the Pharma Marketing?

• It is very important that any Pharma product can be sold through its popularity in the market. Any doubt about its quality or efficacy can create havoc to the products in the market. Many Companies are forced to withdraw their products from the market due to market feed backs both from B to B and in the B to C scenarios.
• It is essential to communicate the critical role of trials in the development of medicine, so that those volunteers who are taking in such Clinical Trials will understand any risks to their health involved in the process, and the role they play in creating a better future. It is learned that there are currently 650 groups around the world carrying out 460 different COVID 19 Vaccine trials on hundred thousands of Volunteers. Such disclosures to willing volunteers for the Clinical Trails [Reference : Industry Data and Media Reports]
• In the recent time, messages about the Clinical Trials in the Pharma industry must be accessible across multiple platforms. A variety of online, print and video – and requires the production of swathes of collateral including patient information leaflets, patient questionnaires, patient reported outcomes, informed consent forms and much more. It is suggested that each must be tailored to the audience it is intended for; not just translated into their language but adapted to ensure it is culturally relevant and drives them to take action.  
• The pandemic has shown a spotlight on the hidden, but constant role in the Pharmaceutical sector plays in keeping the world safe. But looking beyond the current climate, there will be a need for the industry to change to ensure it can continue to develop new medicines using expertise from around the world and support business growth when we can’t currently be face-to-face, in a physical capacity. In other words a very different business marketing strategy, which is different from the conventional Pharma Marketing strategies are required to sustain in the Market.

Pharmaceutical Pricing - a significant aspect of the Pharma product market:

Global Drug pricing is an important aspect of Pharma Industry. It is very complex because Companies rely on a specific period because of the Patent. It is reported that many Pharma marketing professionals are not proficient in the pharmaceutical access and pricing but it is the most important factor in the marketing success of pharmaceutical industry. Within the industry it is the need of the better understanding on the subject by the marketing professionals of the Pharma industry. (Reference : Pharmaceutical Industry Articles published).

According to the experts, the social, demographic and economic context in which the industry is changing in the Post C19 regime is a very important challenge faced by the industry. According to the Big 4 firm PWC, "Pharma 2020: The vision" the White Paper Price Water House Cooper, published in June 2007, there are seven major trends reshaping the pharmaceutical market place. [Reference : PWC Publishing in June 2007].

These trends are given below. According to PWC these trends have "major ramifications for the way in which Pharma markets and sells the medicines it develops" [PWC JUNE 2007]. These seven Socio Economic trends taking in to consideration will help the Pharma industry to some adjustments in their strategy for a win win situation.

The Burden of Chronic disease is soring: The chronic diseases like Diabetics is growing every where in the world. It has become very common that many of the people living in the society have this life style disease. The number of the diabetic patients are increasing, particularly the Type 2 Diabetics. It is reported that the social and economic value of treatments for such diseases will rise accordingly, but Pharma industry will have to reduce its prices and rely on volume sales of such portfolios because of the affordability issues of such medicines. Demand will be high but the constraint will be affordability. The Companies should be able to produce the Diabetic drugs for a reasonable cost offered in the market is one of the best way for the high volume sales which will absorb the fixed cost.[PWC studies].

Health care Policy makers and payers are increasingly mandating or influencing what doctors can prescribe :The patient will not accept a high cost Diabetic medicine which force the doctors to opt and prescribe for more cheaper products. It is also opined that treatment protocols are replacing individual prescribing decisions. Pharma target audience is also becoming more consolidated and more powerful as per the study conducted in the market. It is therefore suggested that industry partners should work hard for each Dollar, collaborate with healthcare payers and providers, and improve patient compliance. [PWC - Study Reference].

The consumer behavior is that "pay for performance" which is on the rise. Nobody willing to pay for an inferior product. It is observed that a growing number of healthcare payers are measuring pharma-economic performance of various products. The popularity and adoption of electronic medical records will give them the outcomes data they need to determine best medical practice, and to discontinue the products that are more expensive or less effective than comparable therapies and pay for treatments based on the outcomes they deliver. [PWC - STUDY]

So Pharma Companies have to prove that its medicines really work, provide value for money and are better than alternative forms of intervention.[PWC - STUDY]

Another trend faced by the market is "The boundaries between different forms of healthcare are blurring": The primary-care sector is expanding as clinical advances render previously fatal diseases chronic. The self-medication sector is also increasing as more prescription products are switched to over-the-counter status. The needs of patients are changing accordingly. Where treatment is migrating from the doctor to ancillary care or self-care, patients will require more comprehensive information. Where treatment is migrating from the hospital to the primary-care sector, patients will require new services such as home delivery.[PWC - STUDY]

"The markets of the developing world, where demand for medicines is likely to grow most rapidly over the next 13 years, are highly varied": If we examines this trend it is understood that developing countries like India have a very different clinical and economic features or characteristics, health care systems and attitudes towards the protection IPR. Any Company that wants to serve these markets successfully will therefore have to devise strategies that are tailored to their individual needs. [PWC & other industry studies].

"Many governments are beginning to focus on prevention rather than treatment, although they are not yet investing very much in pre-emptive measures": This change of emphasis will enable Pharma to enter the realm of health management. But if it is to do so, it will have to rebuild its image, since healthcare professionals and patients will not trust the industry to provide such services unless they are sure it has their best interests at heart.[Industry studies conducted by various agencies].

 "The regulators are becoming more risk-averse": The leading national and multinational agencies have become much more cautious about approving truly innovative medicines, in the wake of problems with medicines like "Vioxx". The wrong trends like "Ever greening Process" etc. has crated lot of caution to these agencies.  The Regulatory agencies like USFD, UKMHR, ANVISA etc. are very cautious in the approvals submitted by the Pharmaceutical Companies. [Reference : Industry studies]. So the Pharma industries must be change their strategy in dealing with such regulators and see that they present things in the most acceptable ways during such approval audits. [Reference : Industry experts].

Healthcare landscape look like in 2020?

For several years, the pharmaceutical companies were the deciding authorities for the pricing. They decided what their products were worth, and priced them accordingly. But Healthcare Policy makers, End user, and patient groups are now playing vital role in the valuation process. This trend will accelerate since the healthcare expenditure everywhere continues to soar. The aging of the population, together with dietary changes and more sedentary life styles, is driving up the disease burden in both developed and developing countries.[Reference : Industry experts].

Various studies shows that between 1996 and 2005, the number of US sales representatives deployed by the Pharma Companies nearly doubled to 100,000, although the number of practicing physicians rose by just 26%. Several studies shows that the market is getting very crowded in other countries, too. In a study conducted among the British general practitioners, shows an average of four visits a month and five promotional mailings a week. Similarly, one Malaysian doctor participating in a study of promotional practices in emerging countries was approached by 16 multinationals and nine local generics companies within a five weeks time span. [Reference : Industry experts - studies conducted in the industry]

The struggle for the market share has triggered considerable alarm. Some 20% of US and British doctors now refuse to see any sales representatives. The regulations governing the behavior of sales representatives are also getting tougher. It is reported that various US states have passed laws requiring pharmaceutical companies to report all gifts or payments to healthcare professionals exceeding $25, while Australia has banned pharmaceutical companies from providing doctors with personal gifts, entertainment or lavish hospitality. Several industry trade groups have likewise introduced new codes of practice – and they are actively enforcing the rules. The Prescription Medicines Code of Practice Authority (PMCPA), which administers the code of practice laid down by the Association of the British Pharmaceutical Industry, is one such instance. The PMCPA “names and shames” the most serious offenders, by reprimanding them publicly and publicizing the violations they have committed in advertisements in the medical and pharmaceutical press. [Reference : Industry experts - studies conducted in the industry]

It is reported that more than 70 % of all the doctors in the Scandinavian countries like Denmark, Sweden and in the European country like the Netherlands are having the practice of writing the prescriptions electronically, and the European Union is promoting the practice in other member states. Studies conducted also reveals that the doctors in Darwin, Australia, are also testing a new system that, if successful, could be rolled out nationwide, and the US has just passed a new law to increase e-prescribing among doctors participating in the Medicare programme. Eligible physicians will receive a 2% bonus for writing electronic scripts in 2009 and 2010, dropping to 1% in 2011 and 2012, and 0.5% in 2013. [Industry Reports and studies conducted by the experts].

Very surprisingly interest in e-prescribing is not confined to the developed world. India’s largest retail pharmacy chain, Apollo Pharmacies, has offering doctors and patients an e-prescription service.

The writer of this article while buying pharma end-use products from the famous retail outlets of Hyderabad and Bangalore is getting some good discounts (like 20 % discount), if the order is given through the E-com platform, added by the facility of home delivery of the products. Similarly, the Turkish government has launched several e-prescribing pilot programmes as part of a bigger initiative to establish a national health network, and the Russian Ministry of Health and Social Development introduced new prescribing rules, including computer-readable prescription forms for the beneficiaries of federal and regional insurance schemes, in 2007. The famous NHS Prescription procedures can be great model in the prescription rules, which can be adopted by the Indian Regulatory agencies also.[Reference - Industry experts].

Recognizing the inter-dependence of the pharmaceutical and healthcare value chains, the relationship between pharmaceutical companies, healthcare payers and providers is at best wary – and sometimes downright antagonistic. Yet analysis of their value chains suggests that they have far more in common than might first seem the case. In its simplest form, a value chain is the series of activities an entity (either singular or collective) performs to create value for its customers and thus for the entity itself. [Reference - Industry experts].

The pharmaceutical value chain starts with the raising of capital to fund R&D and concludes with the marketing and sale of the resulting products. In essence, it is about making innovative medicines that can command a premium price, like Oncology, Heart Disease, Nephrology drugs etc.. The payer value chain starts with the raising of revenues through premiums, taxes or out-of-pocket payments. The payer then creates value for its customers (patients, policyholders and payers) by managing the administrative process and giving them access to medical care. The payer’s goal is thus to make a financial or political profit by maximizing its revenues or reputation and the quality of the service it secures, while minimizing its costs.[Reference - Industry experts].

The provider’s goal is to deliver a high quality of care efficiently. This usually means treating patients as economically as possible, for as long as required. The provider value chain therefore begins with an analysis of the factors affecting the market. [Reference - Industry experts].

Innovative products are typically defined as those which cure a disease or condition, prevent a disease or condition, reduce mortality or morbidity (for example C 19 drugs, Cancer Drugs, ARVs), reduce the cost of the medical care, improve the quality of life, which are safer or easier to use or improve patient compliance and persistence. According to the study conducted by the industry experts who also distinguish between “radical” and “incremental” innovation, although the distinction is not always very helpful. Pharmaceutical companies often engage in a race to develop new products which all have the same mode of action, and the third or fourth market entrant may be superior to the first or second.[Reference - Industry experts].

NEW HR AND RECRUITMENT STRATEGIES FOR THE MARKETING PROFESSIONALS IN THE PHARMA INDUSTRY:

• Many companies will likewise have to recruit and train people with new skills, including: -
• Researchers who are as capable of considering commercial imperatives like pricing and sales as they are of considering scientific issues like safety and efficacy;
• Manufacturing experts who can manage the complex processes required to produce large molecules and drug-device combinations that amalgamate different scientific disciplines;
• Supply chain managers who can handle chilled-chain distribution through multiple channels and supervise a large network of service providers;
• Health economists who can advise on the pricing and reimbursement of new medicines, and provide input into the design of clinical trials for candidate molecules;
• Key account managers who can negotiate with increasingly powerful healthcare payers and pharmacy-economic assessment agencies;
• Disease management specialists with a profound understanding of how to help patients through the disease lifecycle.

Finding people with the requisite skills will not be easy, given the breadth of knowledge the industry requires and the battle for brains now being waged in almost every part of the world. Many companies will therefore have to adopt new talent management strategies, as well as ensuring that the performance measures and incentive systems they use are aligned with the behavior that will be needed to operate effectively in a more integrated environment. [Reference - Opinion of the Pharma Industry Human Resources Management experts].

Various elements may have to be altered, ranging from new cycle time targets for different steps in the R&D process to new measures of effectiveness in marketing and sales. Most companies will also have to alter their corporate compliance programmes. At present, pharmaceutical compliance functions typically spend the bulk of their time and resources monitoring the way in which marketing and sales staff interact with healthcare professionals, and ensuring that everyone complies with the existing legislation. The constraint is the problem of interface meeting with them due to the C 19 Protocol restrictions. But Digital Platform with various Multimedia presentations can be used by the Marketing teams to remove this hindrance. [Reference - Industry experts].

The industry shifts to specialist medicines, payers and patients play a bigger part in the purchasing process and a growing number of companies offer healthcare packages that include products and services supplied by other firms, so the compliance function’s responsibilities will increase. It will have to monitor communications with payers and patients; collect, analyze and report on information from third parties, and assume responsibility for managing a broader range of risks across the extended enterprise – all activities that will necessitate the acquisition of much better operational and information management skills. In short, focusing on the development of specialist medicines and services rather than primary-care blockbusters entails making significant organizational and cultural changes. A very well structured Marketing strategies are required to be formulated in the COVID 19 Post era scenario by the Pharmaceutical industries.

SAMPLE SUCCESS STORY DURING THE COVID 19 - PANDEMIC:

There is popular proverb which I quote "Make Hay while sunshine". In adverse conditions of the Covid 19 time also some of the Companies make it advantage and make some good money. The manufacturers of the Sanitizers, Multi Vitamin Tablets, Mask Garment manufacturers, Technology Companies who made Sanitizer and Hand Wash dispensers (Hand touch free ones), etc are the examples. In the Pharmaceutical sector, some companies who are manufacturing the Multi Vitamin tables have made lot of money.

For example popular health supplement called "Zincovit" which provides essential vitamins and minerals, catapulted to the top spot in the domestic pharma retail market for the first time ever in October 2020 by becoming the largest-selling brand. Interestingly, this would also be the first instance of a multivitamin supplement overtaking sales of drugs for lifestyle ailments such as diabetes, including Human Mixtard (Novo Nordisk) Insulin manufacturing brand manufacturers, Glycomet-GP (USV) and Lantus (Sanofi), which usually dominated the markets. [Reference : Pharma Industry News].

    The report suggest that a 30-year-old brand manufactured by the little-known as M/s Apex Labs, which produced the Multi Vitamin Tables viz. Zincovit registered sales of Rs 50 crore during the month October 2020 in India, dethroning the largest-selling brand Human Mixtard (insulin) with sales of around Rs 47 crore. A multivitamin supplement topping retail sales assumes significance as it comes alongside an increase in month-on-month sales of Human Mixtard (see graphic), prompted by a strong need to prop one’s immunity amid a raging pandemic, industry experts say. [Reference : Pharma Industry Media News].

   It is reported that Overall, the market posted a robust 10% growth in October 2020, led by a higher number of prescriptions for anti-diabetics and cardiac drugs, coupled with a strong jump in vitamins and minerals. Zincovit — with sales averaging under Rs 20 crore — touched Rs 50 crore in October, witnessing a huge 60% jump during the six-month period of April-October, according to data pulled by Pharma research firm AIOCD Awacs. [Reference : Pharma Industry Media News].

  According to Mr. Venkatesh Mallo, Marketing Head of a famous Pharma Company based at Chennai, lot of potential market exist Vitamin tablets which boost the immunity of the human beings. He also stated that his Company has started the awareness to the customers initiatives targeting the customers about 30 years ago and have been building the brand over the years. This category of Pharma product witnessed an unprecedented jump and the sales had doubled over the 12-month ended November 2020 to Rs 340 Crores. As we all know that Zinc, a vital supplement, is also part of therapy for Covid-19 patients, He also stated that he vitamins and minerals segment with sales of around Rs 12,700 crore gives good potential in this segment.

CONCLUSION:

It is highly required to have very different and innovative Marketing and Sales strategy in the Post COVID 19 regime for sustainability of the Pharmaceutical Companies. It is required to dispose off and liquidate the piled up stock of the Inventory for every Pharmaceutical Company, which is the need of time. A very different and innovative plans and execution is required to maintain the sustainability in the International marketing of Pharmaceutical products both in the API and Formulations.

Sathish Puthan Madathil, B. Com, LLB, ACFE, MBA (Marketing & HR), LLM- England, PGDMM, PGDIM, DIM, Diploma In Banking (RBS / NatWest, London), former Officer of the Central Bureau of Investigation, C.B.I., Economic Offences Wing, India. He has served the United Nations Transition Authority in the State of Cambodia, UNTAC as UN Police Monitor and recipient of the United Nations Medal.

The author of this article is also a Marketing professional working as an expert speaker for the Management Institutions and Business Conferences in India and abroad as Guest Faculty. He was also a Visiting Professor of the Future Group Management Institute viz. "Future Innoversity" for the Retail and Supply Chain Management Institute, Bangalore Center.