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 Maypharm’s unique approach focuses on high-barrier markets and tailored business models, allowing it to differentiate itself in a competitive & regulated landscape. The company prioritizes niche, region-specific products such as Metamizole, as well as complex injectables, first-time generics, and novel drug delivery systems, to build a robust and diverse portfolio.
Sameer Kolhe, President of Maypharm, in an exclusive interview with Shardul Nautiyal outlines the company’s bold vision for expansion across Latin America and beyond. With a strong foothold in Brazil and Mexico—together accounting for over 65 per cent of Latin America’s pharmaceutical market—Maypharm is now targeting growth in Peru, Colombia, and other key Central and South American regions.
Looking ahead, Kolhe identified two key trends shaping the future of the pharmaceutical industry: The shift towards emerging markets and potential regulatory harmonization, which could lower barriers but also increase competition. To maintain a competitive edge, Maypharm is investing heavily in technology-driven products and digital transformation, including enhanced project management tools and data-driven decision-making.
Kolhe also revealed plans for targeted acquisitions, including partnerships in Brazil and Mexico to strengthen the company’s infrastructure and distribution channels. With a focus on talent development and innovation, Maypharm’s vision is to become amongst top five Indian pharmaceutical companies in Latin America within the next 5-7 years, with a growing presence in Mexico through strengthened sales force. Excerpts:
Maypharm currently has a strong presence in Brazil and Mexico. What are your plans for expanding into other countries in the near future?
Maypharm's strategy has been focusing on high-barrier-to-entry markets, which is why we began in Brazil and Mexico. Together, these markets represent over 65 per cent of the pharmaceutical market in Latin America. Our approach has allowed us to establish ourselves as specialists in these complex markets—not just in registering products, but also in developing the right business models post-registration that add value to the entire supply chain, from marketing to manufacturing.
We are now expanding into Peru, Colombia, and other countries in Central and South America, as well as the Caribbean. However, we are committed to tailoring our business models to each market, ensuring steady, sustainable growth. One of our key goals is to establish a strong commercial presence, including our own sales teams in select markets."
As a relatively new company in a highly regulated industry, what have been your biggest challenges? How have you worked to mitigate them?
Navigating highly regulated markets has been one of the biggest challenges for Maypharm. Unlike other large markets dominated by multinational corporations, Latin America is mostly led by local pharmaceutical giants, which requires careful strategy in selecting the right market segments, product portfolio, and business model.
We've worked hard to differentiate ourselves by creating commercial models tailored to these complexities. Our focus on exclusivity, a unique portfolio, and B2B and B2C strategies has given us a competitive edge. By learning from others' failures, we’ve developed a model that is now central to our positioning and success.
What emerging trends in the pharma industry do you think will have the most significant impact on Maypharm's business in the next 5-10 years?
There are two key trends that I believe will shape the pharma industry in the coming years:
Market shift: As growth in traditional markets like the US and Europe slows down, untapped markets like Brazil, Mexico, and Russia will become more attractive. This represents a major opportunity for companies with strong technological capabilities and specialized products.
Regulatory changes: Potential regulatory harmonization across regions could alter market dynamics. If barriers to entry lower, competition will intensify, potentially driving prices down. To stay competitive, Maypharm is investing in technology-driven products, combination products, first-time generics, and novel drug delivery systems. These efforts will help us maintain a competitive edge in niche markets.
As you look to grow, are there any new partnerships or acquisitions on the horizon? How do you evaluate potential partners or candidates?
Our acquisition strategy is focused primarily on infrastructure—such as laboratories—and establishing strong distributor partnerships, particularly in Brazil and Mexico. We believe this will strengthen our physical presence and improve our service to the market.
While we're not actively pursuing manufacturing acquisitions, we are open to investing in Greenfield R&D facilities in India, which could support our product development, especially in areas like pre-formulation and novel drug delivery systems. Additionally, the consumer products space offers great potential, especially where innovations can improve compliance and enhance quality of life.
How are you planning to expand Maypharm’s product portfolio? Are there any specific therapeutic areas you're particularly interested in?
We're expanding our portfolio in several key areas:
Region-specific products: We're focusing on products that are unique to Latin America. For example, Metamizole, a widely used anti-inflammatory in the region but banned in India and less common in the US and Europe, presents a market-specific opportunity.
Complex injectables: Given the regulatory hurdles in Latin America, we're investing in complex injectables, an area where the local market lacks the R&D and manufacturing capabilities.
First-to-market products: We’re targeting combination products, first-time generics, and novel drug delivery systems to set ourselves apart.
Innovative consumer products (OTC): This area has huge potential, especially as new, non-prescription consumer products can be marketed more easily in the region. However, the regulatory complexity in this space is high, which presents a challenge and an opportunity for differentiation.
What role does digital transformation play in your growth strategy, both internally and in terms of the services you offer to clients?
Digital transformation is at the core of our growth strategy, especially as we engage with our B2B customers. We’re leveraging digital tools to streamline project management, improve customer service, and gain valuable insights through data analytics. By offering real-time project updates and relying on data-driven decision-making, we are enhancing operational efficiency and strengthening our competitive position.
What is your vision for Maypharm's growth over the next decade? How do you plan to develop and retain the talent needed to support that growth?
While I think it’s risky to set a 10-year vision in today's fast-changing environment, a 5 to 7-year goal feels more realistic yet ambitious. Our goal is to become one of the top five Indian pharma companies in Latin America, with strong footholds in Brazil and Mexico, including our own sales teams and branded products on the ground.
To achieve this, we are focused on developing and retaining top talent. We believe in investing in young professionals and providing them with opportunities for growth and innovation. By fostering a culture of passion and creativity, we aim to build a strong, agile team that will support our long-term goals.
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