How has Symbio Generrics evolved into the company it is today?

The companies I have been a founding member of are present in various sectors of the life sciences industry, including APIs, Global Supply and Distribution of Comparator Drugs, clinically backed Nutraceuticals, and an Intelligence-powered integrated Pharma B2B platform. Symbio Generrics India Private Limited operates in the API space. What started out as a sales and distribution company is today a full-fledged API manufacturing, marketing, and sales organization. We are poised for growth; we have recently acquired two manufacturing facilities to keep up with demand, and have set up our own R&D processes. Over the past twelve years, our team of brilliant professionals has grown Symbio into a US$40 million company with 120 employees.

In what ways is India’s government helping the pharmaceutical industry become more self-reliant?

In the early 2000s, the Chinese government, to boost manufacturing of pharmaceutical APIs, provided incentives on exports, which were successful at making the country very aggressive in the international market, and led to global reliance on China for several APIs. In similar fashion, our Prime Minister Shri Narendra Modiji and his team have consulted with industry leaders and have focused on levelling out this relationship. An obvious step India has taken is the implementation of its PLI scheme, which since 2021 has brought down the industry’s dependence on China by 2-4%. There is still huge room for improvement in public-private partnerships, which will help strengthen the position of Pharmaceutical manufacturers in the country at global levels.

As a case example of how our dependence on China can be reduced, a product worth investigating is Gabapentin that is used in diabetic neuropathy. The product has a value of approximately US$1.6 billion in the global market. From that, an intermediate that historically comes from China accounts for US$144 million. If the PLI scheme took on Gabapentin, we could reduce that US$144 million import to less than US$1 million.

Can you introduce our readers to WisOnGo, highlighting what inspired you to launch the platform?

Many companies make decisions based on feelings that are not necessarily backed by intelligence. We are working on a disruptive idea WisOnGo (short for Wisdom-on-the-go), a platform that provides information on APIs and intermediates which will enable manufacturers to make intelligence-based decisions on critical issues. For instance, decision making on buy versus make, capacity expansion, consumption coefficient, etc. for a product. Additionally, companies will be able to map the competitive landscape of their product portfolio. One of the key highlights is that it will help mitigate risk by tracking the dependency of a manufacturer on any particular market.

Our differentiator lies in the fact that we are looking beyond merely providing data, we provide our clients with actionable insights that they can use for effective decision making. Our core belief is that intelligence is greater than information.

Where do you see the nutraceutical industry evolving?

Since the onset and with incidences of Covid-19, the common man has become more understanding of the importance of preventive health. The Indian market for Nutraceuticals is witnessing explosive growth following the pandemic scare. There is a rapid rise in demand for products that have natural ingredients that help prevent diseases.

Looking ahead, what topics within the life sciences hold the most potential for growth?

India is picking up pace when it comes to clinical trials, and decentralization of these trials is the way ahead, where technology will make them more accessible in local settings. Pioneers in this process will have high potential to earn and retain loyalty from customers, since it would significantly reduce the time and expense that a trial conventionally incurs.

Development in digital technology has been bolstered by the pandemic, and the pharma industry is struggling to keep up with it. While the industry is growing increasingly aware of the potential of digital transformation, the decision makers often face challenges in deciding how to fully utilize this potential. The involvement of various stakeholders in the identification of the how and trials and errors in implementation of it is the only sure shot way of achieving success in the long run.