Augmenting Healthcare Across the Globe
Written By: Indranil Roy
The Indian Economy may have been soaring from a while, but the pharma industry has shown remarkable growth. India is still the leader in manufacturing and exporting of generic medicines and accounts for 60% of the vaccines produced worldwide. This astounding presence is corroborated, by the existence of a substantial number of Pharma manufacturers. This huge occupancy has driven everyone into a rat race, making the pharma space extensively volatile. Pinnacle Life Science has grown in this volatility by focusing not on the prevalent formulations rather less attended avenues, like NSAIDs, Cardioprotectant, Antihypertensive, Antidiarrheal/Antiprotozoal and many more.
Within a short span, the Company has spread wings across many parts of the world and evolved as an important part of the Country’s economy.
THRIVING AS ITS PARENT BODY
Pinnacle Life science is an innovative product of its parent conglomerate Aarti Drugs Ltd. Aarti Drugs is one of the widely known establishment for Active Pharmaceutical Ingredients (APIs), Pharma Intermediates and Specialty Chemicals. Under Pinnacle, Aarti Drugs burgeons into pharmaceutical formulations in the Indian and International markets.
Aarti Drugs’ significance in R&D, manufacturing and marketing has helped Pinnacle acquire a remarkable presence in more than 90 countries. Its demonstrated quality has grown it into a niche expert of particular products and carve a revered name and market share in a very short span.They had a modest turnover in F.Y 2014-15; from there they grew in leaps and bounds! Pinnacle is forecasting to generate annual revenues of Rs. 315 Crores in F.Y2020-21, with nearly 50% of revenues coming from export sales.
THE INNER MOTIVATION
The foundation of Pinnacle Life science was laid down in 2014, by Mr Vishwa Savla, VP (Aarti Drugs Ltd.) and Founder and CEO (Pinnacle Life science). Aarti Drugs has been pioneering the pharma-space over a generation, facilitating intermediaries and raw products for diverse formulations. Pinnacle was formed with a focus to bring the same revered quality in finished formulations.
The Indian Pharma market is a huge volatile space with many renowned players. Pinnacle sought to provide selective products at reasonable prices that have less competition so that they can emerge as market leaders for those particular molecules. Furthermore, Mr. Savla wanted to open his heart, towards societal developments. With Pinnacle Life science, Mr Savla has been able to bring all his aspirations under one umbrella. In the last 6 years, the Company has grown into a renowned brand upholding Social Responsibilities, Quality, Compliance and unassailable ethics.
FACTORS CONTRIBUTING TO QUALITY
As mentioned before, Pinnacle is cherished for its upscaling quality. Several aspects attribute to upholding the winning standards. The backward integration of APIs provides them, with in-house APIs with the technical back up at every stage. They have a state-of-the-art manufacturing facility that ensures international quality standards in every product and stringent regulatory compliances to trade beyond borders. Constant up-gradation and synchronization with trends and technologies give them a competitive edge.
Pinnacle has a credible quality management system, that focuses more on preventing problems than fixing them after they occur. The system is accommodated with, features to help in verification and validation of every activity. Quality parameters also include testing at the supplier’s site before dispatching finished products from the Manufacturer.
DEVISING CUSTOMISED PRODUCTS
To synthesize accomplished generic formulations, it is important to understand the structure and reference listed as RLD products. This helps in creating & comparing a market generic equivalent, to understand if its bioequivalent and further attributes to its approval in the market. Furthermore, in-vitro bioequivalence assessments and physicochemical analysis play a prominent role in understanding pharmaceutical formulation requirements. A clear comprehension of API with respect to its proactive, quantitative, structural and morphological characterization also excipients present, within the RLD product helps in prototype formulations and significantly reduces the development of risks.
At Pinnacle products go through stringent parameters before reaching the end customer. This include – Molecule identification, Molecule screening, sourcing of raw material, Pilot batch manufacturing, marketing strategy development, Test marketing/Clinical trial/user trial, and Commercialization. These quality-emphasized parameters ensure products live upto RLD standards. For further, customization of products, customer’s needs and feedbacks including size, shape and quality are collected.
PROMINENCE OF R&D
R&D is the nucleus of Pinnacle’s business model that helps them introduce customized infrastructures, that can align with their goal, “Developing Futuristic Healthcare solutions”. Pinnacle has its integrated in-house R&D Centre in Navi Mumbai, placed on a gigantic area of 100,000 Sq.ft. which develops new and challenging formulations, for global markets. This Intellectual Property gives them an edge in the International Market and helps in working with world-renowned partners.
The institution is structured with Synthetic Chemistry Labs for (APIs), Formulation Development, Analytical Method Development and a Regulatory department as well. Though the prime focus of R&D encircles around the development of dosages – solid & liquid orals, creams & ointments, they also perform in-depth research on modified formulations for sustained and controlled release. On the other hand, their regulatory and IPR Cell uses online patent search tools to delve into various libraries, to prepare market regulated ANDAs and dossiers in CTD format.
Deep investment in R&D enables Pinnacle to home the best infrastructures in the market. This helps in addressing expertise not only in formulation development but also, contract research and development under various business models. Pinnacle is capable of developing 12-15 new products at a time, for supplying in various markets such as Europe, Canada, Latin America, Africa and South-East Asia. Adding to this, the Company has a subsidiary in Chile, through which they aim to propel Latin American operations. Their services are a complete package for clients including everything from API development to sourcing and final dossier submission.
CONTRIBUTION OF FERVID LEADERS
“The essence of great leadership is influence, not authority”, Ken Lear, Entrepreneur.
The above-stated phrase is a brief picture of the leadership panel at Pinnacle. Mr Vishwa Savla is a renowned leader having an MBA from Indian School of Business (I.S.B.). His years of leadership presence at Aarti has helped him with the meticulous planning, research and marketing, to devise Pinnacle. Adding to this, the helm of Pinnacle is held by Juan Gomes and Richie Gandhi.
Juan (LATAM head) carries 30 years of experience in the pharma space. He specializes in negotiation in foreign markets, commercial market strategies and has deep knowledge of Chilean and International Pharma market.
Richie Gandhi (VP): International Business Development and Strategic Alliance), has garnered a decade of experience in the pharma industry, by working with renowned players like Sanofi, Dr Reddy’s etc. Her core specialization revolves around corporate strategies and project management in the International Market.
A CORDIAL & COHESIVE WORK CULTURE
“As a company that started just 5 years ago, we’re growing in leaps and bounds, in every aspect. The multitude of expansion won’t have been possible, if not for our employees”
Employees are the stepping stones of any foundation – Pinnacle endorses this wholeheartedly. Pinnacle has a very collaborative and innovative work culture where employees to work on established things and invent new ones as well; this edifying culture engages employees to the Company’s growth. Majority of the employees are in their early 20s or 30s and capable of multitasking. The contribution of a young workforce ensures consistency in operations. The multitasking ability opens opportunities for employees to grow.
Transparency is another factor that ensures the engagement of employees. The leadership panel keeps the team motivated on a regular basis and always welcome creative ideas and thoughts. The freedom of choice and two-way communication creates a very vibrant environment. Employees get a clear picture of the Company’s long and short term goals. Furthermore, employee performances are constantly monitored and are made to go through Skill development and training programs, if needed. Last but not the least, individual and team achievements are recognized and honoured with rewards.
EFFICIENT AMID THE PANDEMIC
Amid the outrage of COVID-19, when companies especially the manufacturing sector was witnessing a harsh period, Pinnacle showed its strength and continued to grow in all aspects. To alleviate the challenges while ensuring a freewheeling operation, Pinnacle shifted from the traditional practices to revamped methods. This approach not only helped in continuing business but achieve milestones as well. One major landmark in this crisis was its product, Yetocee. This product was Pinnacle’s major response to the spontaneous changes triggered by the pandemic.
Supporting employees and ensuring their engagement in work is the toughest challenge for any Company in this period. But, Pinnacle is ahead in this as well! They maintain collaboration on all levels of the operation which gives employees an understanding of the organization’s mission, vision, values and goals. The Company maintained an uninterrupted communication with everyone, provided feedback on employees’ performances and ensured an ambience of fun and development with the power of Praise.
ADDRESSING SOCIAL CONCERNS
As mentioned earlier, Pinnacle was formed to augment the standards of healthcare and society. As such, a significant investment goes towards CSR activities. With its parent body, Pinnacle addresses concerns like Education and Skill Development, Health, Environment, Social Welfare, Rural Development, Women Empowerment and Quarterly Medical Camp in several rural parts of India.
With the help of Aarti Drugs and several NGOs, Pinnacle has funded to the construction of schools in Boisar District, Tarapur, Maharashtra. In 2020, the Company has funded to education welfare by constructing the Kosbad Girls Hostel in Dahanu and the Murbe Public Library in the Palghar village.
MAJOR LANDMARKS IN THE JOURNEY
The success of Pinnacle is, highly contributed, by its founding father. Since 1998, Aarti has taken a quantum leap, growing various aspects. They attained a grand turnover of $ 15 M, which later grew to $ 150 M in 2011. Following the footsteps, within – 3 years of Pinnacle’s introduction, it started building a prolific presence in the market. In 2017, Pinnacle achieved an astounding turnover of $ 15 M.
In the following two years, the company witnessed a radical growth and founded Pinnacle Chile and Formulation R&D Centre, establishing an offshore presence. Even the pandemic couldn’t interrupt their operations. Their product ‘Yetocee’ is still a pioneering product in the market.
THE UPCOMING LANDMARKS
After achieving such growth-powering milestones, the Company aims to enter the highly complex -regulated market of Latin America and establish itself, with a healthy portfolio of products. Their formulation department is presently exporting to more than 40 countries, which will grow with time. Also, the Company is launching products having limited rivalry for lucrative markets like Brazil and over 30 products in strategic markets such as the UK, Poland and Canada. Simultaneously, they are aiming to burgeon to emerging markets like East Africa, Philippines, Ukraine, and South-East Asia, where Aarti Drugs already has a significant presence.
With the attribution of the parent Company, Pinnacle aims for a substantial market share in segments such as Anti-infectives, Pain management and Anti-Diabetics throughout the emerging markets. Also, they plan to expand into complex Oral Solids and Injectables while focusing on regulated markets and branded generics as well. The company aims to reach a 1000 crore revenue landmark by FY 2024-25.