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Century Pharmaceuticals Ltd, Where Innovation and Research Meets
Innovation is the key to overcome severe competition in pharmaceuticals industry and maintain hopes of a healthy survival. Century Pharmaceuticals Ltd has been in the business of manufacturing Active Pharmaceutical Ingredients since the last 38 years and charting steady growth. They have grown not only with a wide basket of products ranging antibiotics, vitamins, anticoagulants, erectile dysfunction, anti-diabetic etc but also in geographic expansion around the world. They embarked upon novel research and path breaking innovation in 2007 by starting a biotechnology research division. Century licensed a patented novel molecule for Asthma and Allergy with a unique targeted therapy technology which promises a cure without any side effect.
Background, important milestones and awards of Century Pharmaceuticals Ltd
The Company was established in 1982. With a desire to expand business the Company started its veterinary products division in 1997. Biotechnology research was started in 2007 with Israeli Biotech Research Collaboration
Gold medal from Lockheed Martin for best innovation in Biotechnology in 2007.
Functional IBSC since 2007. DSIR recognized R and D unit in 2008.
A new US FDA approvable manufacturing plant was set up in 2010.
WHO GMP for manufacturing APIs and written confirmation since 2010
MSME award by FGI in 2012.
Fair Business Practices (Indian Council for Fair Businesses)
Gold Medal for excellence in Business Practices (Switzerland)
Excellence award for Exports (Indian council for Small & Medium size exporters)
Certificate of excellence for innovation –India Innovative 100
Janak Sheth rated Top 30 CEO on Innovation 2014
Quality Mark Trust awards 2016 and 2017
Gold Certification in ZED from QCI
Persons behind the venture
Dr. Janak Sheth Managing Director- B.Tech, Hon PhD (44 years)
Dr. Anand K Dubey- Head, Quality, M.Sc., Phd., ( 25 years)
Dr. Velmurugan R- Senior scientist, Biotech R&D M.Sc., Phd., MBA (25 years)
Mr. Rishabh Sheth- Director, R&D process development, B.Tech MBA (USA)(7 years)
Balkrishna Shetty- Business development, B.Com ( 35 years)
Century’s unique strengths
The company has a sharp focus on customer service and satisfaction and believes in giving priority to customer requirements from time to time. The company has been able to retain customers even in turbulent business cycles owing to their long term strategy. Their end goal is to ensure that the customer benefits from Century’s strengths of quality and competitiveness.
Every person in the company contributes to make a strong and united company. Owing to this strong feeling for the company, Century has one of the industry’s lowest turnovers amongst employees. This helps in continuity of work and also a lot of ease in working towards growth.
Where does the company stand in the market.
Century Pharmaceuticals has maintained its quality over the years and has stayed ahead of the competition with a strong regulatory support. Company believes in prompt service and yet maintains a good inventory level for all its products to be able to supply on time. Bulk purchasing is one of the competitive advantages for the company. Market penetration and cross selling is followed. Opportunities from new drugs recently off patented have a good market potential. Century Pharmaceuticals is expanding their international market presence and have developed new markets with time.
The Company is on the move
Century Pharmaceuticals has a good reputation in the market and they get good references from satisfied customers. Customers usually need raw materials at short notice of good quality products. They believe in performing regularly and hence the trust of the client is continued. To walk along with the changing market scenarios, the company participates in national and international exhibitions and conferences to understand the dynamics of the market and customers. The Company has a policy to meet customers and invite them to visit their manufacturing plant. The company is also active on the internet through social media to get feedback and keep abreast of the several regulatory changes from time to time and to tune with the new systems required. The company believes that Artificial Intelligence has a tremendous future as accuracy and perfection is absolutely vital in the pharmaceutical industry. Mundane operations where there are chances of human failure in consistency will be replaced by AI. Therefore people need to innovate and look for skills to be developed when such disruptions take place. Google cloud and web applications are extensively used in pharmaceuticals as it is impossible to track and monitor sales people in the field effectively without these tools. The market will be much more competitive in times to come and companies who are averse using these tools will have a tough time.
Goal and vision Century Pharmaceuticals
One of the best Healthcare Companies in India, Century Pharmaceuticals is constantly developing new products based on customer demand and industry needs. Investing upon the research at an appropriate time with all resources shows the great path for success. The Company is currently working on a novel biotechnology recombinant protein for the treatment and cure for Asthma and Allergy. The Company is working on the concept of a research boutique to develop the product till proof of concept and then out license the same to any big Parma company. A few more products are also in the pipeline once the first molecule is out licensed. The company has invested in this concept and ready to take challenges of novel molecules.
The Company believes that financial success is not the end objective. As a result, Century is investing heavily in research and innovation. The Company partnered with an Israeli Biotech virtual company for the novel molecule for Asthma. When the technology was transferred, the technology was found with a lot of gaps. Just at that time, the Israeli company closed down and Century was facing closure of the project. Century decided to overcome the challenges on their own and established the invitro and in vivo proof of concept. The Company is now looking at conducting in vivo proof of concept in transgenic animals to be able to out-license this molecule which promises a cure for Asthma without any side effect.
Tips to students interested in the pharmaceutical industry
- Healthcare is a fast-growing domain and there is no dearth of opportunities.
- There is a huge competition and to be successful, you need to focus on your strengths. Select an area within the pharmaceuticals space such as manufacturing, analysis, quality assurance, research or regulatory affairs and develop in-depth knowledge to be able to contribute to your company and enrichment of self.
- Good pharmacists are hard to find and if you one, you have a bright future.