Born on 28th July 1955, founder of Mankind group, Mr. R.C. Juneja is an inspiration in himself. He started his career in 1974 with Kee Pharma as Medical Representative. In 1975, he joined Lupin and worked there as first Line Manager. In 1983, he resigned from Lupin and started his own company Bostochem in partnership. In 1994, he withdrew his ownership from Bestochem and 1995 founded ‘Mankind Pharma’ with his younger brother
Mr. Rajeev Juneja.
Under Mr. R.C. Juneja, ‘Mankind’ has met a complete metamorphosis in a span of 14 years. He revolutionized the whole Indian Pharmaceutical market and inspired others to follow the trend of “providing quality medicine at an economical price”.
He is one of the most distinguished business leaders and is known for his business acumen and entrepreneurial spirit. His analytical mind and risk taking attitude are reasons of his success. His simplicity, courage, presence and fortitude have been the sources of inspiration for the hoi polloi as well as for the number of budding enterprises.
He is a living legend and an epitome of the fact that honesty and transparency is not at variance with business acumen. He also shared his life experiences to motivate the new generation to come ahead and take up new challenges and responsibilities.
The biggest challenge for ‘Mankind’ was to sustain and maintain more than 30% annual growth rate thereby achieving the goal of becoming the No. 1 Pharma Company in India by 2015. Most global Pharma companies and Indian majors have slashed the prices of their drugs and are hiring in big numbers to tap small town and rural market.
From an obscure company just a decade ago, Mankind Pharma has come a long way. It required a wonder drug and several new low-cost remedies for the ultimate push that Ramesh Juneja,
founder and managing director thinks will help Mankind become the country’s top drug maker by 2015. There are over 20,000 drug makers in India, making it one of the world’s most competitive markets.
The Delhi-based company targeted the country’s rural and small town market by selling medicines at “pocket friendly prices”. It established its brands in less competitive and inexpensive small town and then caught rivals unawares in urban market with its drugs that cost a fraction of the brand leaders.
According to Mr. Juneja’s simple logic, two-thirds of India’s population consumes 40% of the 40,000 crore drug market and so he started working out thin-margin models. The company cut prices of its products and took competition by surprise. For instance, its antibiotic Moxikind CV sells for Rs. 11(a six-tablets pack of 500gm) against GSK and Ranbaxy’s brands priced at Rs. 40. Needless to say, both trade and consumers have given this strategy thumbs up.
‘Mankind’ now has over 300 brands in its portfolio and its products are the fourth largest prescribed medicines in the country as per ORG-IMS, prescription audit, 2008.
“They created market instead of fighting with bigger rivals within a smaller segment. It has no fancy R&D setups like bigger companies but merely leveraged on the opportunities”, says a prominent pharma man.
‘Mankind’ does not view its success in terms of commercial turnover or profit margin it gains but firmly believes that corporate social responsibility is the key for providing a strong and symbolic relationship that exists between the company and the society it serves. NANHI KALI a special joint project managed by K.C. Mahindra Education Trust and Naandi Foundation, aimed at providing education to the underprivileged girl child in India.
‘Mankind’ as a part of its social responsibility is also organizing BMD camps on regular basis throughout India. The motto behind organizing this camp is to make people aware about the Mineral deficiency in their bones as per their weight and height. ‘Mankind’ has been associated with SOS Children’s villages of India to help the underprivileged children live a secured life with natural environment. The Institute for the Blind ‘ANDH VIDYALAYA’, supported by ‘Mankind’ has enrolled more than 250 blind students from all over India with an aim to assist the blind population with the general pattern of the society through a process of formal education and by equipping them with vocational training that will enable them to gain a reasonable degree of economic independence.
Mankind with a philosophy of ‘Serving Life’ is not only aiding benefits to the society with its economical products but also genuinely heading its responsibility towards the future upbringing of the country.
The story of Mankind Pharma is truly an inspiration gelled with persistence and perseverance. From a humble beginning with a capital investment of about Rs. 50 lakh, Mankind was able to achieve a turnover of over Rs. 300 crore in the year 2005. With a market share of about 1.75 percent of Rs 25,000 crore domestic pharma markets, Mankind has a strong presence in antibiotics, anti-fungals, nutritionals and ED categories. They have many brands that rank number one.
He achieved the mission to deliver medicines that enable patients to live healthier, happier and more active lives.
Inputs from Economic Times acknowledged