Foreseeing growth opportunities when there is less than 10% global market share in inhalation anaesthesia, product enhancements are underway in Piramal Critical Care lead inhalation anaesthetic product, Sevoflurane. Besides this plans are also afoot to launch Desflurane in the US and EU any time this year.
Piramal Critical Care, formerly known as Piramal Life Sciences Limited, is a subsidiary of Piramal Enterprises Limited and is the world’s 3rd largest producer of inhaled anaesthetics with a global market share of 10% and the only company with the complete inhalation anaesthetic product portfolio.
Piramal Critical Care is the only global company with all 4 generations of inhalation anaesthetic products with presence in 118 countries, including a strong presence across major markets such as US, Europe and Japan. It recently acquired 5 anaesthesia and pain management injectable products from Janssen Pharmaceutica NV for $175 million. It also acquired a portfolio of drugs for spasticity and pain management from Mallinckrodt LLC for $171 million.
“To accelerate growth, we have some regionally important product enhancements underway for our lead inhalation anaesthetic product like Sevoflurane. In addition, as we continue to transition, integrate, and gain experience with the products which we acquired from Janssen and Mallinckrodt, we believe that there is potential to grow these franchises,” according to Peter DeYoung, CEO, Piramal Critical Care.
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“One of our main focus areas over the last year has been to successfully integrate the products which we acquired from Janssen in October 2016 and Mallinckrodt in March 2017. Now that we have made substantial progress in these important segments, we are once again looking at organic as well as inorganic growth opportunities, including those described earlier,” he adds.
Piramal Critical Care product portfolio is focused on generic hospital pharmaceutical products that have complexities around manufacturing, sales or distribution. In markets where it is relevant, many of the company’s offerings are branded, including the products recently acquired from Janssen and Mallinckrodt.
DeYoung explains, “While these attributes make for comparatively attractive niches vis-à-vis other generic pharmaceutical products, our customers remain under intense pressure to manage healthcare costs and they do have alternatives. This drives us to constantly demonstrate that we are providing value to our customers. So in addition to reliable, high quality supply and excellent service, competitive pricing is a crucial factor for increasing both market share and volumes for our existing products.”
Further, as one of the few independent pharmaceutical companies with commercial capabilities dedicated to the hospital channel, Piramal Critical Care is planning on marketing products developed or made by partners that lack effective front-ends, particularly in the US and Europe.
Company’s products are sold directly or through network of distribution partners in over 110 countries across the world, with widespread availability in the US, Europe, Japan and a number of important emerging markets, including India. Piramal Critical Care follows a strategy that is a combination of both organic and inorganic growth. It aims to build on its strength in the hospital and institutional, segment by further augmenting generic hospital pharmaceutical product portfolio and increasing market share of current products.
“The company’s products are used in a challenging ecosystem i.e. operating theatres in hospitals. The onus of providing customers with uninterrupted, quality supply coupled with timely customer service, are differentiators in a market where customers frequently suffer from product shortages, due to quality issues,” DeYoung concludes.
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