CENTURY PHARMACEUTICALS LTD: The Furious Researcher and Perusal Pharmacopoeia
CENTURY PHARMACEUTICALS LTD started and aspired to be a dependable manufacturer of pharmaceutically active ingredients in the year 1982. They supply their products to small, medium and large pharmaceutical companies who make finished products – medicines.
Their product range is quite wide, ranging from antibiotics to vitamins, ophthalmic products, anti-coagulants, and erectile dysfunction,etc., and constantly growing with the expanding needs of the day. In their Biotechnology division, their team of scientists and professionals are engaged in the research for a novel molecule for the treatment of Asthma and Allergy. They are working on a novel futuristic targeted therapy technology, where there is a hope of a cure for Asthma without any side effects! They are also pursuing research on stem cell therapy which is also a unique rejuvenation therapy, which promises to be the ideal therapy without any side effects for all ailments. Initial trials have given outstanding results.
Being different is a Revolving Door
Over the years, CENTURY PHARMACEUTICALS has remained committed to its desire for excellence. Therefore, it is usual for their customers to give them positive feedback that they are not only a serious and compassionate company but also who respond quickly and maintain a professional approach in business honoring contracts with time. In spite of the ups and downs of the market, they believe in having a long term approach and retain the trust of their customers. They maintain the highest quality standards for all the products manufactured by them by focusing on producing products that are more potent with lower impurities. A large part of their production is therefore exported. With this approach, they are able to maintain and grow their clientele supported by their GLP and GMP standards, professional & friendly approach and strong documentation support.
The story of Endeavour
The most difficult part of any struggle story is taking the first step, making the first decision and move forward with a strong zeal. They started off with practically no equity of their own and hence the first 5 years were very trying for them. They were constantly fighting for funds and therefore paying back loans was a difficult task.
However, with their long term orientation, they never looked back. They paid off all their loans much ahead of schedule and built a strong reputation for themselves. They have maintained this policy over the years and this has brought a lot of credibility to them in the market.
The clients and their Credence faith
They serve all the customers from very small to very large and multinationals. Multinational customers are very tough to maintain owing to their stringent and constantly improving quality standards and system requirements.
In addition to quality and service, they endeavor to maintain and constantly upgrade their systems to meet the client’s expectations. Some of the large customers serviced by them are Pfizer, Abbott, Cipla, Glenmark, Macleods, Hetero, ZydusCadila, and Aristo.
They try to accommodate customer’s requests from time to time to keep them satisfied with their individual requirements of quality and service. This helps them to continue to service their customers. Sometimes when the market prices change, they continue to supply such contracts even at unrewarding prices. Maintaining and retaining the client’s faith is important and this helps them when the markets are down.
Research and Development with the Changing Market Trends.
They are constantly exhibiting in national and international exhibitions which helps them update the latest market trends as well as an opportunity to connect with existing and new customers.
They have subscribed to several news journals and online services to keep the company abreast of new products and recent market changes. With this, the company is well placed and is able to anticipate further market dynamics.
They strongly believe that research is most essential for the growth of the company. In-fact they have deployed a lot of efforts and funds for research. They hope that this investment over time will fetch stupendous results at a later date when their research is commercialized.
Workforce and Societal Relations
Century pharmaceuticals has won the confidence of their workforce charting the industry’s lowest manpower turnover. Employees are satisfied with the way they are treated and this results in their satisfaction with a good workplace. Therefore while salary and emoluments are important employees value job satisfaction and helps them to perform better. They personally believe that in house politics is the worst enemy in any company. The company ensures that employees do not get any time for grapevine within the company.
“They believe in giving back to society after achieving some measure of success both personally and as a company”. This is the vision of their Managing Director, Dr. Janak Sheth who likes to patronize budding students to go for higher education and award them scholarships and encourage good academic performances. He is an emphatic person who likes to assist people in need who are deserving at the same time.
Mentorship and Idiosyncratic
The business officials of Century pharmaceuticals think that their role model is a person like Karsan bhai Patel of Nirma. He also started with a very modest background and grew rapidly over the years. They never forget the fact where they came from and this helps them to maintain their nobility.
Secondly, the sky is the limit and most of the limits are put by themselves! They believe that we must contribute to the national economy much more than just taxes paid on profits made.
Traveling and meeting new people is a passion for the Key officials of the company. He travels for work as well as vacations to refresh and for self-motivation by exploring newer countries to understand different lifestyles and cultures. He also enjoys reading and playing sports like chess, table tennis, and golf for recreation and whenever time permits.
Achievements, Milestones, and Future for the Century pharmaceuticals
They have a few achievements to their credit owing to recognition by the industry. Some of them are:-
- Fair Business Practices (Indian Council for Fair Businesses)
- Gold Medal for excellence in Business Practices (Switzerland)
- Excellence for Innovation, Quality, Productivity (IES, India)
- Leaders of tomorrow by ET NOW – October 2013
- Gold medal award from Lockheed Martin for their research project on Asthma and Allergy
- Century Pharmaceutical is selected as the fastest growing Pharmaceutical Company of 2016 in The Silicon Review Magazine.
- Qualified as the GOLD standard in ZED Certification from QCI India
- CEO of the year by Business Connect Magazine Nov. 2018
- Brand of the year by “THE CEO Magazine” in December 2018
- Best Entrepreneur 100 in 2019 in the CEO Insights Magazine – March 2019
Apart from the above mentions, they got various other awards as a fast-growing pharmaceutical industry.
The future is very bright for them indeed. With time they have adopted a scientific and futuristic approach to help them work towards an elevated growth in the coming years. The professionalism in the company is growing with increasing size and slowly driven more by professional employees than just the owners.