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Source : Zenox Lifesciences Ltd Zenox Lifesciences Aims at 100 Crores Turnover by 2012-13 Chennai, Tamil Nadu, India -- (Business Wire India) -- Thursday, September 02, 2010 3:25:00 PM • Launches 15 Unique & Novel Drug Delivery Products for Chronic Disorders • Promoter of Zenox is Former CEO of Strides Pharmaceuticals The Chennai-based pharmaceutical startup, Zenox Lifesciences Ltd, promoted by Mr S A Manikandan, former CEO of ` 1300 crores Strides Pharmaceuticals and Co-founder & former Managing Director of Grandix Pharmaceuticals Ltd, is expecting to register a turnover of ` 100 crores by 2012-13. The company is launching 15 brands, mainly for chronic disorders, in Tamil Nadu, Andhra Pradesh, Karnataka, Kerala, and Orissa. Addressing a press conference here today, Mr Manikandan Managing Director of Zenox said that the purpose of Zenox is to enhance the life expectancy of the people diagnosed with chronic disorders and improve the quality of life through innovative & novel drug delivery system (NDDS) products in the chronic therapeutic area. “According to World Health Organisation, only 50% of patients with chronic diseases living in developed countries follow treatment recommendations. One of the important factors that contribute to low drug compliance is the need for taking multiple drugs during different times of a day. In this context, the patient-friendly nature of NDDS drugs can make medication regimens less complex and improve the drug compliance, besides ensuring therapeutic efficacy,” he said. “With an impact of increasing income, affordability, health insurance penetration, prevalence of diseases and new product introduction, Indian pharma market is expected to undergo a major transformation and projected to be tenth largest pharmaceutical market by 2015,” Mr Manikandan said and added that Zenox is venturing into Indian pharma market owing to growing market opportunities, developing medical infrastructure, and enhanced affordability in rural, semi -urban and tier-2 markets. “We expect to have a turnover of ` 15 crores in the first six months of operations. We hope to increase the turnover to ` 40 crores by the end of the financial year 2011-12 and to ` 100 crores by 2012-13 by organic & inorganic means,” he said. Zenox is already in talks with few pharmaceutical companies to acquire more brands for inorganic growth. Zenox has tied up with Formulation Development Organization to create unique NDDS products and producing the same from WHO – cGMP certified contract manufacturing facilities. On Zenox’ business outlook, Mr Manikandan said, “The promoters of Zenox have an excellent track record and domain expertise in building brands. Our core competency is in offering unique NDDS drugs, marketing, team building, quality management, profit-centric administration,” he said. Zenox is employing 250-strong marketing team in the four southern States and Orissa in the initial phase. However, Zenox has chartered out plans to have a PAN India presence by 2012 -13 by expanding the marketing team to 450 members. Zenox is promoted with an equity capital of ` 4 crores. The company is in the process of raising ` 10 crores through private placements. Chairman of Zenox, Dr S Arulrhaj is the Common Wealth Medical Association President and Past President of Indian Medical Association. He was founder promoter and Chairman of Grandix Pharmaceuticals Limited. Media Contact Details Mr. S.A. Manikandan, Managing Director, Zenox Lifesciences Ltd, +919941946985, manikandan@zenox.in Submit your press release at http://www.businesswireindia.com Disclaimer |
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