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Rowan Bioceuticals to expand in Middle Eastern markets: Aayush Narang
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Shardul Nautiyal, Mumbai
August 25 , 2020
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Indian dermatology specialty company Rowan Bioceuticals which is currently focused on cosmeceuticals and prescription dermatology products is planning to expand to Middle Eastern markets considering the growing trend of dermo-cosmetics and nutritional supplements in those countries.
Its main products azithromycin, ivermectin and glutathione vitamin C formulation have been found effective in treating the patients of COVID-19 in early stages and showed results in slowing down the spread of virus in the body.
Rowan Bioceuticals also provides contract production and manufacturing services to companies around the world. The company traces its origins back to the year 2005 when it was founded in New Delhi. The company is also planning to induct fresh talent from reputed pharma institutions and deploy them in the areas which are non- operational and expand its promotional reach.
According to Aayush Narang, business development head, Rowan Bioceuticals, “Thankfully we had a very strong hold in tier 2 markets where lockdowns were lifted and eased way before tier 1 cities, hence we were able to continue our business as usual. Product segments like cardio, diabetic and blood pressure medicines which are essential for health saw a boost in sales, whereas divisions like dental and dermatology saw a decline of 50% to 60% in YOY sales. Also, since different countries had different lockdown protocols, exports were hit as well. A lot of products especially in pharma still can't be exported due to government regulations and factors like increased freight prices and higher clearance timings at ports have made it difficult to do exports.”
“We follow a very conventional way of doing business, unlike today's start-ups. We believe in keeping our cash reserves saved for such times and it has helped us pay all our employees without any layoffs or pay cuts. Now companies should start thinking about the old- fashioned way of doing business with futuristic thinking. For instance, a company should not hire staff just to show strength, they should have required staff that they can afford to pay in times like these. Burning cash which we saw in the last 5 years has become a trend with start-ups to acquire customers which should be taken care of as well,” he further added.
Talking about regulations, Narang said, “The pharmaceutical industry has always been a regulated industry. Government emphasis on quality products and keeping a price check has always been in the favour of the general public to which we stand for.”
Health care is a right for every citizen and hence it should be affordable and available to all, he concluded.
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