May 19, 2022

Great Indian Mutiny

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MSN Group of India lands with a laboratory at Punta Hermosa | Economy

After four years of operation with the Peruvian import model, the Laboratorio MSN Group is reaffirming its position in the local market. For this reason, it opens a medical and business group in the country with a headquarters in Punta Hermosa.

Akhilesh Vijay, manager of the Indian Pharmaceutical Cluster for Peru, Chile, Paraguay, Uruguay and Bolivia, pointed out that $ 1.5 million is needed to set up a laboratory, warehouses, offices and supplies at the Peruvian branch.

After noting that the company will focus on cardiovascular, oncological, central nervous system and health lines, he told management, “Through our own team we can hit more markets than ever before.”

In 2021, with the launch of the local team the Peruvian company is approaching double digits and expects to maintain momentum in the coming years. With this, it aims to be in the top 20 or 10 pharmaceutical companies in the market in the first few years. In the oncology section, it points to the top five spots.

Strategy

Akhilesh Vijay explained that to achieve their goals in Peru, we will bet on drugs and taxes that have not yet been used in the local market. In detail, he announced that they would bring in molecules for cancer treatment currently being administered in the United States and Europe.

“In some cases, they will be the first oncology generic (branded, but not patented) on the market, and these treatments are usually more expensive and more affordable,” he noted. Greater intimacy with healthcare companies and doctors.

Similarly, it revealed that the health line will be strengthened with over-the-counter (OTC) products to complement the other lines of the portfolio. I.e., OTC to improve treatment for cardiovascular, nervous system and infectious diseases.

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Market

Asked about the state of the pharmaceutical market in Peru, Akhilesh Vijay pointed out that the industry has achieved a turnover of US $ 2,000 million with several rival companies, which is driving its growth.

“Growth before the epidemic was not so great, now it has grown in some segments. Without milk, it would have grown to 4.4% by 2020 and 4.9% with milk,” the executive said, after considering that the rate would be maintained with the advent of laboratories and pharmaceuticals.

On the other hand, he pointed out that the more space and potential segments in the market are targeted at chronic diseases (heart, diabetes and other) and cancer patients.

He acknowledged, however, that in 2021 the laboratory was affected by rising supply, inventory, and exchange rates. As for the MSN Group, he assured that they would not shift all the high costs to the final price.

Information

  • Weight. In Latin America, Peru is the third largest market for the Laboratorio MSN Group. Worldwide, the company operates in 75 countries.