Mumbai: Mylan Inc. chairman and chief executive Robert J. Coury spoke in an interview about what the company plans for India. Edited excerpts:
Mylan was late to enter the Indian market, although it made a sizable acquisition in 2006?
The Matrix acquisition was quite a strategic one not only in terms of a local market entry, but in the context of our overall business. Throughout the last four years, Matrix has played a unique and important role in Mylan’s transformation into the global and rapidly growing company we are today. Not only has Matrix contributed to Mylan’s very strong growth through the success of its business, it has also made it possible for Mylan to integrate vertically and realize substantial ongoing operational efficiencies on a global basis. These benefits have been felt commercially in every region in which we operate.
Growth plans: Coury says Mylan wants to be within the top 10 in the market in the next few years.
Our entry into the Indian market was after a strategic plan that condensed with multiple phases of growth in this very competitive market. There are a lot of options that we are still working out to suit the market in terms of reach, products, therapeutic groups, etc.
What are the options?
There are different options, including a big-bang entry with a significantly large field force and sales network to cover most of the therapeutic areas and the whole market, a soft launch with selected markets and selected range of products which suits those selected markets, and collaborations and partnerships in terms of market network and even products, that we are considering for India.
The Indian market is very competitive, with several companies and several thousands of brands, and the top company’s market share itself is not more than 4%. So what is the slot you are looking at and what is the timeline?
We will be within the top 10 positions in this market, and we want that scale to be achieved in the next few years, though to predict a timeline will be difficult.
Will you also look at more acquisitions to achieve the scale of business that you expect?
Yes. That is also another option. We will look at opportunities to acquire products or even companies if that helps us to grow in the market.