A Project Report on Sales & Marketing Methodology of Bulk-Drug Industry

Submitted By:Bhavin Patel MBA(Marketing) IIPM, Ahmedabad.

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INDEX
Subject
1 2 3 4 5 6 7 8 9 10 11 Executive Summary Acknowledgement Company Profile Indian Bulk Drug Industry History Of Company Product Mix Project Work Undertaken Bulk Drug Export Process Competitor And Price SWOT Analysis Conclusion

Page No.
4 5 6 7 11 17 23 25 28 29 31

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LIST OF ABBREVIATION API= Active Pharmaceuticals Ingredients CAGR= Compound Annual Growth Report CMO= Contract Manufacturing Organization B2B= Business to Business USFDA= Unites state Food & Drugs Administration CGMP= Current Good Manufacturing Practice MHRA = Medicines and Healthcare products Regulatory Agency TGA= Therapeutic Goods Administration WHO= World Health Organization W.E.F= With Effect From IDMA= Indian Drug Manufacturers Association

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Executive Summary
J.B chemicals & pharmaceuticals Ltd. is one of the Indias fastest growing, professionally managed, global pharmaceutical company manufacturing a wide range of innovative specialty medicines for domestic and international markets. A flagship company internationally recognized as unique pharmaceutical laboratories. Its product portfolio consist of pharmaceuticals specialties in various dosage form, herbal remedies, diagnostics, generic drugs, active pharmaceutical ingredients (APIs). This project report will give us an idea of overall of profiling of the company, Marketing functionality of API division, and functionality of logistic department. The Report will include the following: Company Profile Product portfolio Marketing function of API division Function of logistic department Objective of the Study: The main objective of the study is to understand the detailed working methodology of bulk drugs pharmaceuticals industries. This study will also show the marketing strategy of bulk drugs division and their limitation. Methodology: This study contains data from company executives and other employees interview as well as secondary data as expert opinions and research analysts in the field of bulk drugs marketing. Limitations of the study: A lot of the data is confidential in nature and has not been revealed by the company officials. In absence of data some assumptions and projections have been made which may have a significant effect on the accuracy of the results The study is based on the bulk drug industry only. Many findings are specific to this industry and hence it is not possible to generalize the findings of the study. Page 4

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ACKNOWLEDGEMENT

It gives me immense gratification to place on records my profound gratitude and sincere appreciation to each and every one who have helped me in this endeavor. I would like to express my sincere thanks to my industry guide Mr. B. K. Dhar (Head of sales & marketing, API division) for his continuous cooperation, support, suggestion, encouragement and providing guidance and suggestion that I needed to complete my project successfully. I also would also like to express my gratitude towards Mr. Madhav Bhole (Personal assistance of Mr.B.K.Dhar) for his valuable guidance and support during the period of my summer training. He has corrected and guided me through every step to understand the marketing functionality of bulk drug division of company. He also inculcated in me a systematic approach and professionalism. I would also like to thank all those people at J B Chemicals & pharmaceutical that though being total strangers to me lifted my spirit with their cheerful smiles and gave me the courage & inspiration to work zealously.

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Company Profile

Type: Founded: Founder:

Public 1959 J.B.Mody

Headquarter: Mumbai, Maharashtra Key People:

J. B. Mody (Chairman & M.D) D. B. Mody (Whole time director, Administration) S. B. Mody (Whole time director, Marketing) Turn over: Total sale: Profit: 150 million (USD) 787.58 Cr. (2009-2010) 118.19 Cr. (2009-2010)

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The Indian Bulk Drug Industry

The Indian pharmaceuticals market is expected to grow from the current US$19 billion to US$32 Billion by 2015 at CAGR of 18-19% whereas domestic sales is geared to expand nearly about US$ 20 billion by 2015 from an estimated size of US$ 11.72 billion in 2009. India has more than 100 US FDA- approved manufacturing facilities. Indias bulk drug industry is estimated to be worth US$16.91 billion by 2014. India ranks 3rd in terms of volume among the top 15 drug manufacturing countries. Nearly 70% of the bulk drugs manufactured are exported to more than 50 countries. Contract manufacturing has been driving the bulk drugs exports in the last few years. Global pharmaceutical companies have been outsourcing contract manufacturing to Indian companies to cut costs. The Indian pharma outsourcing market, including contract chemistry and biology research, clinical trials and contract manufacturing is roughly valued at around US$1 billion in 2009 each, growing at a CAGR of 25%. Contract Manufacturing Outsourcing market stood at US$986m in 2009 and is expected to grow at a CAGR of 41.7% to reach US$5.63 billion by 2014.

The Pharmaceutical Industry in India is increasingly being recognized as a reliable source of quality medicines at affordable prices and is emerging as a global powerhouse. As we enter the Knowledge Economy, speedy and efficient exchange of reliable information will be a prime requirement for the efficient management of our intellectual capital. The Indian manufacturers of bulk drugs have taken the advantage of the prevalent economic conditions and have accordingly carved their markets. During the times when the import duty was as high as 115%, the Indian bulk drugs were positioned as import substitutes and when the duty fell they have become exporters. The growth which the Indian Pharmaceutical Industry has achieved is mainly due to the Indian Patents Act, 1970 which was one of the achievements of IDMA in strengthening the national sector.

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Market Overview

Niche Growth Segments to Offer Potential for Participants in the Global Active Pharmaceutical Ingredients Market Niche growth segments hold significant potential for the APIs market participants, as they are confronted by several challenges such as overcapacity, industry consolidation and lack of capability differentiation. The API market, traditionally dominated by small molecule drugs, is currently witnessing a rapid shift towards biopharmaceuticals. As the market moves from a blockbuster model to more focused niche drugs, there will be many new opportunities for API manufacturers. "Participants from emerging markets such as India, China, and Eastern Europe are consolidating their position as preferred sourcing partners, thereby boosting the API market," says the analyst of research. "These participants have specialized process chemistry skills, besides low production and labour costs, giving them an edge in API manufacturing and distribution." While companies from India have excellent chemistry skills due to their well-established generics exports industry, companies from China are preferred for their bulk drug and intermediate sourcing. These countries are leveraging their inherent strengths to emerge as strong contenders in the global market. Product Differentiation to be the Most Significant Key to Success in the API Market The decline in R&D productivity is the most significant factor restraining the growth of the API market. Over the past decade, there has been a marked fall in the number of blockbusters entering the market. In the 1990s, successfully relied on the blockbuster model. However, due to an increasing failure rate in late-stage drugs, the pharmaceutical industry is witnessing a shift towards generics and biopharmaceuticals. As global conditions become more challenging, larger pharmaceutical companies are likely to refrain from investing heavily in developing new small molecule drugs, thereby affecting the API market in the long term. "Product differentiation is expected to be the most significant key to success in the API market," explains the analyst. "Investment in early-stage technology and product platforms can help market participants have a competitive advantage." Pure-play API vendors and contract manufacturing Page 8

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organizations (CMOs) should follow a two-pronged strategy to differentiate themselves from competition. Firstly, instead of merely focusing on reducing the overall yield of a given API or improving certain steps in a custom synthesis, vendors should aim at investing in early-stage technology and product platforms for a competitive edge. Secondly, the sourcing of APIs is often a critical decision in the overall development process, and companies have begun to realize the importance of tying up with local manufacturers in emerging markets to tap into their cost advantage and produce high-quality, low-cost products. Finally, the provision of value-added services, such as intermediate procurement and production, and dosage form are expected to aid in consolidating vendor-customer relationships, thereby making the overall API outsourcing process a strategic decision.

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J. B. Chemicals & Pharmaceuticals Ltd.

J. B. Chemicals & Pharmaceuticals Ltd. (JBCPL) is one of Indias fastest growing, professionally managed, global pharmaceutical company manufacturing a wide range of innovative specialty medicines for domestic and international markets. A flagship company of the Unique Group, it is alsoknowntomanyasUnique. Its product portfolio consists of pharmaceutical specialties in various dosage forms, herbal remedies, diagnostics, generic drugs, active pharmaceutical ingredients (APIs). Some of the products within these categories enjoy leadership positions in the Indian as well as the foreign markets. The Company is strategically focused on Research & Development (R & D) and is totally committed to respond promptly to the market needs by developing quality products at affordable prices for the masses. With a strong base of 11 state-of-the-art manufacturing units (including three US FDA approved Tablet & API plants) and two DSTC approved R&D centers, the company has entered a dynamic phase of expansion into newer and faster growing therapeutic segments such as anti-diabetics,CNSandRespiratory. J B Chemical & Pharmaceuticals Ltd. is a customer driven and financially sound company which consistently enhances value for its shareholders by rewarding them with healthy dividends year after year. With its Head Office situated in Mumbai (India), it has a large global presence with operations inover50countriesacrosstheworld.

And, 52% of the Companys revenue comes from exports to USA, Europe, Latin America, Africa and South East Asia. To further enhance its strength in foreign markets, JBCPL has also entered into joint ventures and strategic tie ups with key partners in USA and many more countries.

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History of Company

1965: Mr. J.B. Mody showed a first seeds as partnership firm M/S. Unique pharmaceutical laboratories. 1976: The landmark incorporation of J. B. Mody chemicals & pharmaceuticals 1983: JBCPL acquired a pharmaceutical business of partnership firm J. B. Mody & brothers 1984: J. B. chemicals & Pharmaceuticals Ltd. became a partner Pharmaceuticals Laboratories 1985(March): J. B. chemicals & Pharmaceuticals Ltd. Dissolved M/S. Unique pharmaceuticals Laboratories take over the asset of the firm. 1985(April): Unique pharmaceuticals laboratories a partnership firm (one of the partner J.B. chemicals & Pharmaceutical Pvt Ltd.) was amalgamated with J. B. chemicals & Pharmaceuticals Ltd. 1985(June): As per the scheme of amalgamation, the share holder of J. B. Mody chemicals & Pharmaceuticals Pvt. Ltd Were allotted 1,55,380 equity shares of Rs.100/each as fully paid up shares in the ratio of 1 share of every 17 held. in the firm M/S. Unique

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1985(June): J. B. chemicals & pharmaceuticals Pvt. Ltd. Was dissolved without winding up upon the order of the Mumbai high court. 1985(August): The name of the Company was changed from J. B. Mody Chemicals & Pharmaceuticals Ltd. To from J. B. Chemicals & Pharmaceuticals Ltd. 1985(November): Maiden public Issue of 12,00,000 Equity shares of Rs.10/- for cash at par which was oversubscribed 21 times. 1988(May): Issue of 94,500 14% secured Fully convertible Debentures of Rs.150/- each for cash at par on a right basis to the existing shareholders of the company to finance the glyoxal project. 1993(December): Company issues 20,17,500 Equity shares as bonus share in the ratio of 1 : 2. 1996(August): Company issued 12,10,500 Equity shares of Rs.10/- each at a premium of Rs/- per share to the existing shareholders in the ratio of 1 equity shares held. 1998(December): Company issues 72,63,000 equity shares of Rs.10/- each fully paid as bonus share in the ratio of 1:1. 2000(November): Pursuant to the order of Bombay high court dated November 8,2000 & as per the scheme of arrangement the pharmaceuticals division of Ifiunik Pharmaceutical Laboratories Ltd. Has Page 12

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been amalgamated into J.B chemicals & Pharmaceuticals Ltd. w.e.f. 1st April, 2000, the appointed day. 2000(December) : Company issued 15,33000 Equity Shares of Rs.10/- each fully paid up to the shareholders of IPL in the ratio of 7 Equity Shares for every 4 shares held and in the ratio of 1 Equity share for every 1 share held to the shareholders of UPLL consequent to approval of scheme of arrangement by Honble High Court, Bombay. 2000(December) : One of the first company to use the Rommelag aseptic Form-Fill-Seal Technology for the production of intravenous fluids. The first in India again to use a Laser Based particle size Analyzer and the Hiac Royco particles counter. Ultra Modern facility for intravenous formulations and ointments, with the layout and design as per the cGMP concept laid down by US-PDA, MCA-UK and WHO.

Milestone:1999: J. B. Chemical & Pharmaceuticals Ltd. is honored with the IDMA Quality Excellence Award: "Certificate of Merit" for distinction in quality manufacturing at its manufacturing unit in Panoli, Gujarat. 2000: Company awarded Golden Status certificate by the Govt. of India.

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2001: J. B. Chemical & Pharmaceuticals Ltd. received CHEMEXCIL's "First Award" for Outstanding Export Performance of Pharmaceuticals in the Large Scale Manufacturer's category. Received South Africa MCA approval of State-of-the-art Facility at Panoli. Doktor Mom voted Most Trusted European Brand for Cough and Cold Segment. 2002: Readers Digest Awards for the "Most Trusted European Brand 2002' given to J. B. Chemical & Pharmaceuticals Ltd. for Doktor Mom Cough and Cold Brand Strategic Marketing. Doktor Mom voted Most Trusted European Brand for Cough and Cold Segment for the 2nd consecutive year. 2003: First ANDA filing with USFDA for Ciprofloxacin. Doktor Mom voted Most Trusted European Brand for Cough and Cold Segment for the 3rd consecutive year. First Company to market Rantac CD. Received Columbian Drug Regulatory Authority- INVIMA - approval for the state-of-theart facility at Panoli. Strategic alliance with Arrow Group, Canada. 2004: Features in the Forbes Global list of best 100 under $1 billion in Asia-Pacific. Maiden US FDA approval to market ciprofloxacin tablets in the US market. MHRA, UK approves JBCPL's Tablets Manufacturing Facility at Panoli. US FDA approves manufacturing facility, for formulation and API at Panoli.

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Doktor Mom voted Most Trusted European Brand for Cough and Cold Segment for the 4th consecutive year. 2005: TGA Australia approves JBCPLs Tablets manufacturing facilities at Panoli India Doktor Mom herbal brand voted as Europes Most Trusted Brand in the Readers Digest Magazine 2005 Survey for the fifth successive year in the cold and cough remedies segment. Doktor Mom brand awarded Superbrand 2005 status by Russian Council. JBCPL receives US FDA approval to market Fluconazole tablets in the US market. JBCPL features in FORBES Asia Pacific 200 List for Best Under a Billion for second year in a row. 2006: 'Niryat Shree' Certificate of Excellence has been awarded to Unique Pharmaceutical Laboratories Limited, a division of JBCPL, by the Federation of Indian Export. Organisations (FIEO) for outstanding Export Performance in the category of Chemicals, Drugs, Pharma & Allied Products, Non-SSI for the year 2004-05. Doktor Mom herbal brand voted as "Europe's Most Trusted Brand" in the Readers Digest Magazine 2006 Survey for the sixth successive year in the cold and cough remedies segment JBCPLs Annual Report and Accounts for the year ended March 31, 2005 ranked as second best by the Institute of Chartered Accountants of India under the category Manufacturing and Trading Enterprises of the ICAI Awards for Excellence in Financial Reporting 2007: Doktor Mom herbal brand voted as "Europe's Most Trusted Brand" in the Readers Digest Magazine 2007 Survey for the seventh successive year in the cold and cough remedies segment. JBCPL's Annual Report for the year ended 31st March, 2005 has been awarded a Merit certificate by the South Asian Federation of Accountants (SAFA), an apex body of SAARC, for the Best Presented Accounts for the year 2005 in the category of "Hospitality, Health, Transport, Shipping, etc". Page 15

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Plant Location

Company has 11 plants at four different places in India. Panoli, Gujarat Ankleshwar, Gujarat Daman, diu-daman Navi Mumbai, Maharashtra

R & D Centers
Panoli, Gujarat Ankleshwar, Gujarat Thane, Maharashtra

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Product Mix

Brands:-

1.Doktor Mom:-

Doktor Mom is a purely herbal product. It comes in the form of syrup, rub and lozenges (5 flavours- pineapple, strawberry, raspberry, lemon and orange). Doktor Mom is widely marketed by Unique in Russia, Ukraine and CIS through our own sales representatives. Doktor Mom has been awarded "Most Trusted European Brand Award" by Readers Digest in the cough and cold segment. This award was given to Unique by Readers Digest for the last 5 consecutive years (2001, 02, 03, 04, 05). In 2005 the Russian council voted it as the "Super Brand" in Russia. This is a household brand in those markets. Most recently, Unique out-licensed Doktor Mom brand to Ranbaxy for Romania where Ranbaxy will market the brand and Unique will manufacture. We have obtained the registration in Romania for Doktor Mom as a nutritional product. We have also registered this product in Latvia. 2.Metrogyl range(antiseptic and anti infective ):-

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Metrogyl, J. B. Chemical & Pharmaceuticals Ltd.'s biggest brand is the Metronidazole molecule. The company has also introduced a plethora of variations to this brand for convenient patient use. Some of the variations like palatable, suspended, large volume topical, dental and combinations with norfloxacin also capture high prescription rate. Metrolgyl ha been tried and tested since more thsn 30 years and is still going strong. This exhibits its excellent therapeutic value to its users. Metrogyl IV,is an important brand extension of Metrogyl. Today Metrogyl IV is being exported to several countries. This is a clear indication of the acceptance and trust in Metrogyl IV of doctors. 3).Rantac range(Treatment of gastric & duodenal ulcer):-

The second largest brand of J. B. Chemical & Pharmaceuticals Ltd. is Rantac. This exclusive drug is used in hyper- acidity. Rantac, today enjoys the status of having the highest prescription share in the Ranitidine market in India. 4).Nicardia Retard and line extension(anti hypertensive):-

Nicardia is the third largest brand and the company's flagship brand in the cardiovascular therapeutic segment. Even after 25 years of clinical usage Nicardia Retard is perceived as Forever young forever

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youthful. As per ORG MAT Nov 2010, Nicardia Retard is growing by 11% over previous year same period. 5).OF range(Antibiotic):-

The Company has its presence in the antibiotic segment through OF, a brand of the molecule Ofloxacin.. OF range is the fourth largest brand of the Company having grossed sales of about 17 crore.

ACTIVE PHARMACEUTICAL INGREDIENTS (API):-

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Atenolol USP (US DMF No. 024024) Ciprofloxacin Hydrochloride USP (U.S.DMF No. 17786) Cilnidipine Diclofenac Acid (U.S.DMF No. 15366) Diclofenac Diethylamine BP (US DMF No. 19020 & Spain DMF No. DD-708 / 01) Diclofenac Potassium BP/EP/USP (Plant approved by FDA, U.S.A. - U.S.DMF No. 15074) Diclofenac Sodium BP/EP/USP (U.S. DMF No 12469) (Spain DMF No. DS-092/978) (Canadian DMF No. 2005-055) (Certicate of Suitability No. R1-CEP-1997-041-REV 03) Diclofenac Sodium BP/EP/USP also Injectable Grade Gadopentatic Acid (US DMF No. 16730) (Certificate of Suitability No. RO-CEP 2000-096- REV. 02). Nifedipine BP/EP/USP

FORMULATION
ANTHELMINTICS ANTI DIARRHOEAL ANTIBIOTICS & CHEMOTHERAPEUTIC AGENTS ANTIDIABETIC ANTIHISTAMINE SYSTEMIC Page 20

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CARDIOVASCULAR/CARDIC CARE G .I. PROKINETIC G.I/ANTIULCERANT NASAL DECONGESTANTS NEURO / PSYCHIATRY NSAID's/ANTIRHEUMATIC NUTRITIONAL & TONICS RADIODIAGNOSTICS SEX STIMULANTS TROPICAL PREPRATIONS UROLOGY OTC:COUGH AND COLD TROPICAL ANTIBACTERIAL/ANTICEPTIC DENTAL PREPARATIONS MULTIVITAMINS AND REJUVENTORS SEX STIMULANTS HERBAL PREPARATION:COUGH AND COLD MULTIVITAMINS AND REJUVENTORS

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Patented Products
International Patents Granted- 24 Domestic Patents Granted- 15

Accreditation
API products are approved by following authority of particular country. CGMP USFDA - INDIA - USA

UK-MHRA - U.K IN VIMA - COLUMBIA

WHO & TGA- AUSTRALIA

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Project Work Undertaken

Project Report has been made on the basis of the working functionality of marketing and logistic department of only the API (Bulk drug) division of company. I had to understand about the whole procedure of the marketing and logistic department. Following are the task that had been cover under this project during the Internship. What is Bulk drug industry? How they complete the customers order? How the Marketing head deal with the customers? How marketing department work simultaneously with logistic department and Production department? How marketing department Deal with other department? What is the function of marketing department? What is the function of logistic department? The whole process of Supply of goods from plant to customer. How logistic department negotiate with the freight forwarder? Pricing policy of API division. Supply chain process. Which types of documents are required and used during whole process of complete the order?

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Bulk drug marketing

APIs are pure B2B as they are distributed between the pharma companies only. Bulk drug marketing is dependent on the basis of product building(Accreditation) means if the standard of product and plant both meet the standard as per their pharmacopeia then and then only company can sell their product in that particular company. Sustainable competitive advantage in the bulk drug industry where the technology gets copied relatively in advance as compared to other industries; comes in the form of continuous innovations. This competitive advantage is derived from the combination of two basic themes viz (i) Competitor Centered & (ii) Customer Centered Comparison of various factors the market. Configuration costs Customer Centered Customer Choices Segments w.r.t. the immediate competitors in

Competitor Centered

SWOT analysis BCG Matrix Analysis of the profit Comparison of various BCG matrix attributes w.r..t. Analusis of the competitors & profit its

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Bulk drug Export Process

Purchase order (received from customer) Dispatch plan Production Packing details (batch number, weight, quantity) Invoice from logistic Excise invoice Dispatch from factory

(Mumbai) By air

By sea (Bhivandi)

Freight forwarder Custom clearance Delivered to airlines or ship Documents & goods send to customer

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Process:
First Marketing department get a purchase order from the customer then they inform logistic department about the dispatch plan of goods and Production department about Product, quantity, Date of requirement, and Packing list. After getting packing list and product information, production department start the production according to the customer requirement. Logistic department send a invoice to the dispatch department according to it dispatch department packed a product then excise officer verify the goods and documents and provide a excise invoice then and then only goods would be dispatch from the plant. Then according to the emergency goods send to airport or port and then handover to the logistic department. If, customer needs goods in emergency then goods generally send by the air. In this case logistic department asked to the freight forwarder for the price quotation of transportation .then they choose the convenient airlines and handover the goods to the freight forwarder and after custom clearance goods delivered to the airlines. Logistic department generally inform the customers about the whole route of goods and send all required documents along with the goods to the customer.

Documents used in whole sales & Marketing process

Pre-scheduled marketing plan for next year Marketing department sent a pre-scheduled plan to the production department as well as logistic department and its involved packaging material, quantity of goods, expenses, raw materials and about shipment.

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Purchase order Purchase order includes product name, packing list, date of requirement, price, and shipment which is receiver from the customers. Commercial invoice Commercial invoice which is generated by marketing department includes Material name, buyer and seller name, invoice number, cost of shipment, quantity and packaging, date of shipment and route of shipment (air/ship). Safety health and invoinment Costumer also checked out all the information about company like how long they have been in this business, documents, and environment issues and then gives a order so, all over establishment and maintain a standard is necessary. Purchase indent Before two to three months in advance marketing department send a purchase indent to the production department, it includes all the details of raw materials and quantity of raw materials so, according to its production department inform to purchase department to purchase a raw material.

Logistic Department (How do they work)

Logistic department is pre-informed by the marketing department and work simultaneously with the marketing department. After getting packing details from marketing department They make and send an invoice to the dispatch department. Then and then only goods can be dispatch from production plant. After verifying the goods by the local excise officer it can be send to airline or port authority. Then logistic department palletize or packed this material to the freight forwarder. Page 27

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Freight forwarder sends a quotation to the logistic department according to nature of goods. Freight forwarder then send goods to customer after custom clearance,They provide airway bill to logistic department. Logistic department have to inform to customer about the whole route of the shipment in details.

Competitors
There are other company exist in market with the same product line. For Example: Amoli pharma and Arti pharma . But they are not affect the company business because company generally focus on Europe, while Amoli pharma focus in domestic market and Arti pharma focus on latin America. And there is a contract base order system for the particular time period (for few years) so, there is no problem from competitors.

Price
There is no any regulatory exist for pricing bulk drugs to export outside of country. Generally company offer a FOB (free/freight on board) pricing means price quotation does not include a transportation cost, transportation cost would be provide by the buyers.(it depends on Seller and buyers).

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There are mainly three type of pricing strategy of bulk drug division. R&D Commercial - High price - Low price According to Margin & cost Development - Average price

Business policy
Currently its a company business policy to do not sale a API products in domestic market because in domestic market there are so many competitors and very low margin of profit. If, there would be a better opportunity then company could show its interest for that market.

SWOT ANALYSIS
Strength: Company has Tie-up with the parent companies (innovators) with the strong brand image in the market. Out of 10 generic companies in the world company already dealing with 5 of them. There is well sated contract based system so, no threats of competitors in international market. Company has enough plant capacity to complete customers order in time. Its track record of development, particularly in the area of improved cost-beneficial chemical synthesis for various drug molecules is excellent. Weakness:

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Limited product basket . No presence in domestic market. It is very difficult and long procedure to expand a production facility. Business is dependent on patent and contracts so cant expand the business according to their desire. Still underdeveloped new molecule discovery program. There are a lot of items that are restricted under the export import policy from free trading. Opportunity: Company can find a new geographical area to develop a market(can find a new customer in new destination). Company can discover a new drugs by highly concentrate on R&D to capture a new market. Company can consolidate with big company to develop new molecules. Company can offer some product at lower price in comparison with others because of having a good cost-cutting patented synthesis. Threats: Price competition for the new molecule which have been commercialized in the current year. So, company have to stay competitive in domestic market.

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Conclusions:

1. Bulk drug industry is a growing industry. It was established by the study that innovations have a positive impact on not just the bottom lines but also is vital for survival in this industry where the entry of the competitors is marked quite early due to the copying mechanism. 2. Customized strategies are means rather than ends of the growth for the enterprises in the bulk drug industry 3. There is no general formula for formulation of innovation strategies targeted at growth at various levels which would prove effective for company in the bulk drug industry 4. The combination of the basic growth strategies would depend on the business environment. Though the customer centered as well as competitor centered companies have performed better in the Indian bulk drug industry 5. Sustainable Competitive Advantage in the bulk Drug industry can be attained mainly by way Continuous product & process innovations 6. The strategies adopted by J. B Chemicals & Pharmaceuticals Pvt. Ltd have been found effective in terms of growth, business expansion and competitiveness (competitiveness Assessed in terms of turnover, profits & market share).

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