Aditi Kare Panandikar, Managing Director, Indoco Remedies,
Education
In the Indian pharmaceutical industry, where you start from is where you grow best. It takes a lot of time to build brands here —Aditi Kare Panandikar, managing director, Indoco Remedies
It seems Aditi has also inherited all the characteristics of her father. After completing her post graduation in the US Aditi came back to India and the company began to focus on the international markets and on R&D. "It was Aditi's aspiration that Indoco should be known as a research based technically savvy pharmaceutical company," says, Kare, a proud father. Are the expectations from her higher? While answering this question Aditi gets candid. She says, "Certainly. My father has successfully nurtured our company from a sick unit to what it is today. Naturally, a benchmark for performance does get created, and personally, I am not complaining. When you have had a head start like mine it is only logical that expectations should be higher."
Though Kare's job today is to motivate and monitor at a macro level, he is well aware of the challenges lying ahead for Aditi. "For Aditi, the challenge will be to take the company forward and achieve the objectives that we have set for ourselves. I expect that within a few years the size of the international business itself will be about Rs 500 crore. Over the last decade, I have strategically de-centralised a lot of decision making within the organisation."
Aditi has her own take on the challenges lying ahead for her generation. She feels that when an organisation is small, there are ample opportunities for growth. In the period 1969-1999, Indoco Remedies grew 10 times every 10 years. However, maintaining the same momentum does pose a challenge as the company grows and the base increases. As the organisation becomes large erstwhile strategies for growth will not be enough. Newer opportunities will need to be tapped.
"Every generation has their own principles," asserts Aditi. 'Constantly evolving, consistently excelling' is Indoco's mantra. How genuine is this claim? Aditi says, "Until 2003, Indoco had a comparatively simpler business model--ethical prescription sales in the Indian market. In the last six years, we have ramped up big time to set up infrastructure of international standards, get international approvals, initiate sales in international market, set up R&D infrastructure needed to back our international strategies, venture into development and manufacturing of API in other words we are constantly changing."
For a large part of existence, Indoco has depended on 'home grown managers' to succeed, and has done it wonderfully. It has given them stability which has played a major role in Indoco's success. Over the last eight years the company has recruited extensively and brought in capable people at the highest level of its management. "We have recruited to add value," informs Aditi.
Fighting spirit
There is no security on this earth, only opportunity. Aditi knows very well that creativity requires the courage to let go off certainties. She confidently says, "Opportunities and threats exist in every business environment." Moreover, Aditi has a mentor like her father who coached her to meet the challenges head on. He never sugar coated the bitter pill of the mistakes. She remembers him telling her, "When I took over, things were so bad, nothing worse could have happened. I learnt by making mistakes. Aditi, you will not have that luxury. By the time you come into the business, the mistakes will be far more costly."
According to Aditi, as a company, they are today far more derisked than they were earlier. Indoco has a well established branded sales business in India as well as some of the ROW markets and a focused strategy for the regulated markets.
Aditi has been working with her father for the last 15 years. Though she calls him a 'control freak', she is equally aware of the hardships that her father has gone through. Aditi says, "The rich experience he has, will be an invaluable guiding force for me going forward." On the home front, Kare is a father, teacher, mentor, idol and above all a friend to her. "We share a beautiful relationship. He has a very high work ethics. I have not seen him carrying his work profile home. At home he is always the doting husband, father or grandfather as the case may be," says, a visibly emotional Aditi. "At one moment we might be arguing as boss and subordinate and in a few minutes we would be father-daughter having lunch together!" says Aditi, summing
Aditi Kare-Panandikar
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Suresh Kare
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Aditi Kare Panandikar gets award
MUMBAI: Aditi Kare Panandikar, managing director, Indoco Remedies Ltd, received the 2015 Jack L Beal Post-baccalaureate Alumni Award from ‘The Ohio State University College of Pharmacy’ in USA recently, for her outstanding contribution to the pharmaceutical industry. The award was presented to alumni of the college who have made outstanding contributions to the pharmaceutical sciences and the profession of pharmacy. The committee concluded that Panandikar was an excellent choice to receive this award noting that since receiving her degree, she has distinguished herself in the pharmaceutical industry through her work. The committee also stated that she is a unique individual who is a credit to their program in pharmaceutical administration and to the OSU College of Pharmacy. NT
Aditi Kare Panandikar appointed as MD of Indoco Remedies, Sundeep Bambolkar Joint MD
Mumbai based Indoco Remedies today announced a change of leadership with the appointment of Aditi Kare Panandikar as the managing director (MD) and Sundeep Bambolkar as joint MD of the company. Aditi took over the coveted position from Suresh Kare who today announced his decision to step down from the post. However he informed that he would be retaining the position as the chairman of the company.Suresh Kare has been handling the responsibilities of the company for the last five decades and has been instrumental in positioning the company as one of the top pharma companies in the country today. He informed that seeing Indoco's growth over the years and the swift changes that is taking place in the industry it was high time to hand over the responsibilities to a younger and competitive generation.
Commenting on the changing roles, Aditi Kare Panandikar said, “I am very happy with this decision as it had been my dream to take up this position, wherein I can contribute my share in the companies growth and development.”
On future tasks, she informed that the company has plans to expand their business and explore new business ventures focused on propelling and pushing the company towards its growth trajectory.
Bambolkar who has been appointed as the joint MD said that he is very excited about his responsibilities and informed that the company aims to grow the domestic formulations business accounting for about 65 per cent of the revenues and aggressively to expand its presence in the countries being serviced by the international business.
“Our vision id to grow the international business by more than 50 per cent year on year in the next four to five years. For this the peripheral support systems such as trained technical manpower and manufacturing facilities approved by the most advanced regulatory agencies are already in place,” informed Bambolkar.
He further informed that the companies agreements and co-operation with Watson, Aspen are being expanded further. Suresh said that that 2014-15 will be a very eventful year for the company with respect to the Watson and Aspen deal as the company will start getting the benefits out of the deal.
Recently Indoco has also signed an agreement with DSM, an API giant for marketing and distribution of its API's in the global market which is expected to enable Indoco to surpass the critical mass which is so very important in terms of scaling up of the international business.
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