LifeSciences and Pharma Markets “Asian Countries to Witness Tremendous Growth in Future”
To boldly go... – Life sciences and pharmaceutical industry boom in Asia, and Sigma-Aldrich has recently opened a Global Shared Services (GSS) Center at Bengaluru. Jason Apter, Vice President & Managing Director Asia Pacific, Sigma Aldrich talks to PROCESS India about company’s GSS Center and plans ahead.
PROCESS: Can you throw some light on the recently opened Global Shared Services (GSS) Center?
JASON APTER: The newly opened GSS Center will offer services such as strategic marketing, sales support and business analytics to both our international and domestic customers. From transactional to highly strategic responsibilities, our GSS India employees will help support the global business growth and accelerate operational excellence.
With its high rate of growth, India remains our major focus. With GSS, we will leverage our capabilities, talent and infrastructure in India to better serve our businesses.
PROCESS: How do you see the growth of the Indian pharmaceutical and life sciences industry?
APTER: The whole of the Asia Pacific market plays an important role in our company’s growth. As a result, we have invested in this region to a great extent in the last few years. Our company has opened a packaging facility in Bengaluru, a facility in Wuxi, China, which is fully operational and has recently completed a SAFC Hitech precursor manufacturing facility in Taiwan. Therefore, it becomes needless to say that the pharma and life sciences sectors are growing well in the Asia Pacific region including India.
“Lack of Infrastructure biggest Problem in India”
PROCESS: What products and solutions have higher demand in India?
APTER: It is a difficult question to answer as our company offers more than 100,000 products. Hence, it is going to be difficult to have a comparison on the parameters of products.
However, there are a few industry segments that have been growing in the country viz. segments such as analytical products, biology products, chemistry products, material science products. All these have a higher demand in India.
PROCESS: What are the challenges that this industry faces in the country?
APTER: Every country has its own set of challenges and obviously, India has its own issues to deal with too. Lack of infrastructure is one of the biggest problems here. Additionally, due to challenging global economic conditions currently, outsourcing from big multinational pharma companies has slowed down to some extent.
Nevertheless, looking at the brighter side, domestic manufacturers in the biologic segment continue to improve. There are many challenges that business comes across here, however, to overcome these challenges should be key point of discussion. Amidst of all opportunities and challenges, how a company survives and sustains is more important than talking merely about the problems. That’s how one succeeds.