Suresh Pareek, Managing Director, Ideal Cures reveals his strategies and expectations from the CPhI India 2014 show, in an interaction with Viveka Roychowdhury
What have been the major launches from Ideal Cures in the past year?
Last year Ideal Cures launched two new products and a mobile application. The products launched included INSTAMODEL, the ready-to-use extended release material custom formulated for each molecule like Metoprolol, Metformin, and Diclofenac etc. INSTAMODEL is a brand new concept in the excipient industry and an Ideal Cures initiative to make the first in this product range.
The other product launched was INSTAMASK, yet another ready-to-use concept for taste masking of bitter active ingredients. Both product launches received excellent response. Both these products are doing well in India as well as the international market.
What is the strategy for CPhI India 2014? Are there new launches, services etc?
The strategy for CPhI India, 2014 is to meet customers from around the world. For this we are inviting our area managers and other senior persons from international regions to join us.
Last year we opened a lab in Istanbul, Turkey and this year we opened a representative office in Tel Aviv, Israel. We already have an office in Milan, Italy since the last five years. Representatives from these countries will join us at CPhI India this year.
This year we will also launch the 4th generation of coating material brand named as INSTACOAT 4G. INSTACOAT 4G is the innovation which will sent competitors back to labs. INSTACOAT 4G is designed to meet the requirement of continuous coaters, large scale auto coaters like 67 and 72 inches as well as conventional coating machines. INSTACOAT 4G will reduce coating time by 50 to 70 per cent.
Along with this, another product which we will be showcasing is sugar fast coating. In terms of technical advancement, it is meant to save time and improve process finishing for products that are still being sugar coated. Although no new launches are available for sugar coated products, the sole reason for us to develop this product is to help and support the companies that are still making such sugar coated products.
Both these products are dedicated to the worldwide pharma industry, as a contribution by Ideal Cures towards reduction of carbon footprint.
How is the mobile app launched last year doing? Any more digital services aids in the pipeline?
The InstacoatLab mobile app has been very well received by the industry. Many customers have used our app to to save costs and time. Many other features like colour guide and country wise regulatory guide serve as ready reckoners. We recently launched the app in the iOS version and will be launching the BlackBerry and Windows version soon. We will also be adding brand new features to the app this coming year.
In terms of global sales, which geographies are Ideal Cures’ focus areas?
Our focus for global sales is Asia as well as Europe until next year and then we will be moving to other geographical areas. In Europe, we already have one office in Milan, Italy and by next year we have plans to have two more offices in Europe. Similarly, we will have increased focus in the Asian countries as well.
What has been the growth rate of the company in this fiscal over the last? Which categories are growing the fastest?
Last fiscal year, as we all know, was of the previous central government and there was a lot of uncertainty. In spite of that, at Ideal Cures we achieved a growth rate of 24 per cent. In our case, film coating systems are our prime business and this is the one which is growing the fastest. Other excipients like neutral spheres, cooling compound, and taste masking compositions are catching up and showing good growth rate. In the years to come, new products should do a lot of value addition to us.
What are your expectations from CPhI India 2014?
CPhI has been a good platform to launch new products, network with existing customers and meet new customers. We also wish to achieve new product launches which help us understand the trends in the industry. As usual we expect the show to be good.