“We are excited about the DNA Bill as a game changer”

In an exclusive face to face interaction with the BioVoice, Dr Rajnish Bharti, General Manager, Promega Biotech shared insights into the company’s India operations, future outlook and more. Read on:

Please tell us about the Promega India’s journey so far? What is your business model for operations in India? 

Promega products have been in the Indian market for long time. Prior to Promega coming Direct, we were operating through one distributor on Pan India level. Promega Biotech India, a subsidiary of Promega Corporation, became fully operational on August 1, 2014. Promega India is growing at a CAGR of 23% since its direct operation. Our head office is at New Delhi and we are addressing our customers through different channel partners and Direct as well.

What are the company’s key product offerings in India and who are the customers?                      

Primarily our customers were into Life Sciences, but we have expanded into Molecular Diagnostics and Genetic Identity areas as well. We offer over 4000 products in the fields of genomics, proteomics, cellular analysis, molecular diagnostics, human identification, and applied biotechnology.

Tell us about your latest business activities including collaborations in India?

This is our fourth full year of operation only and we have still a long way to go. Indian biotech market is full of opportunities. We continue to explore the new market and are trying to get into those unexplored areas by reaching to customers directly and through our marketing activities like road shows, seminars and digital marketing activities.

One of our recent collaboration is with Core Diagnostics. The collaboration allows Core Diagnostics to leverage Automated Nucleic Acid Purification with Promega Integrated Quantitation systems.

How do you view the Indian market and its challenges and opportunities?

India has been among the growing biotech markets in the world. Indian biotech industry has made good progress in past few decades, but now the funding matrix is changing due to other priorities and biotech organizations are slowing down due to this changed matrix. The focus is now on the product development and translational research. The market is very challenging and dynamic in terms of advancement in technologies hence we have to keep the pace with changing technologies through bringing the innovative and new products at regular intervals. This market is also not exceptional while demanding economical but efficient products.

Our government is also taking initiatives and other measures to reduce costs with the sole idea to bring down healthcare expenses so that it is accessible to common man also. In line with that we continue to focus on Pharma and Molecular Diagnostic markets. We are also excited about the DNA Bill which is pending in parliament for approval. I guess this will be a game changer in long run.

How has been the company’s performance in the last fiscal year? What are your expectations in terms of growth in the current FY? 

We have been growing at a CAGR of 23 percent. Our growth rate in last fiscal year was 17 percent and we are hoping to be very close by to that even this year also.

Please share your success mantra and outlook for the company’s future in India?                           

We will never feel truly satisfied by work until we are satisfied by other aspects of our Life. That’s exactly where Promega’s environment enables each of us to think and follow a purpose which is beyond delivering our routine deliverables.

Promega embraces the principles of emotional and social intelligence (ESI). ESI helps employees improve relationships, manage stress and strengthen the emotional infrastructure at Promega to support a strong future. We are consistently striving with our quality offerings & efforts to increase our market share and we are very positive about it.

Promega India in line with Promega Corporation this year are celebrating the anniversary of the company’s first 40 years in business across the world, and we do have plans to celebrate the 100^th anniversary as well .