MD: Bharat Daftary

Solidifying domestic biz

BSV plans to add more steam in its quest for innovation with increased R&D spend

Bharat Serums and Vaccines (BSV) promoted by the Daftary family (Dr Gautam and Bharat Daftary) believes that the formula to the company's success lies in its focus on domestic and international markets, and not going after the generic products but instead opting for niche products for therapeutic areas, which have little competition in the market. In the process, the company recorded an impressive growth rate and turnover for fiscal 2011-12. Clocking an estimated revenues of 298.32 crore for the fiscal and registering a growth of 32 percent, BSV today manufactures and markets biologicals, pharmaceutical and biotechnology products. It has a portfolio of over 25 brands which includes plasma derivatives, monoclonals, equine antitoxins and serums cardiovascular, antimicrobials, antifungals, anaesthetics, and fertility hormones.

Today, around 75 percent of its business comes from the domestic markets while the remaining comes from the global markets. BSV maintains that, while its main focus has been the domestic markets, its international business is slated to grow exponentially and that this approach would result in a growth in excess of what BSV has seen in recent years. Says Bharat Daftary, chairman and managing director, BSV, “Given the kind of niche products we have for the regulated markets of the world, one needs to have suitable competencies and infrastructure, hence our approach is to enter into partnership and licensing deals in the regulated markets of the world.�

Company officials continue to maintain that in order to keep the wheels of innovation churning, it has and will always be a research-driven company. BSV today invests around 12-14 percent of its turnover on R&D. Located in the Thane District (near Mumbai) of Maharashtra, the R&D facility houses around 70-80 scientists (including the analytical team) who look into three aspects crucial to BSV's business: biotechnology, novel drug delivery systems and biologicals and simultaneously creating intellectual property rights. “We are focusing on novel drug delivery system (NDDS) with emphasis on unmet medical needs,� adds Daftary. In October 2011, the company had also commissioned its new plant for biotech products (mainly API).

BSV's strategy for the domestic market is strengthening of its existing product basket, and launching new products around that particular brand. In terms of its existing product basket, BSV is looking at strengthening its fertility products. BSV will launch its product for sepsis this year, around July-August and currently it has got its approval from the DCGI for the same. This apart, BSV has also added three new divisions to its structure which includes urology, neurology and hematology.

Key Achievements	Performance highlights	Key strategy initiatives	Future plans
Its fertility range of products has been the key growth driver for the company. BSV has also added three new divisions - Urology, Neurology and Hematology.	Registered a 32 percent growth. Around 75 percent of its business comes from the domestic markets while the remaining comes from the global markets.	Strengthening its existing product basket, which would ideally mean focusing on a core product/brand and building in new products around that particular brand. BSV is looking at strengthening its fertility products.	BSV will launch its product for sepsis this year, around July-August 2012. Will look at partnerships and alliances in regulated markets of the world.