Pharma API Major Enaltec Labs Debuts New Year with passion as it bags the prestigious “India’s Most Valuable API Manufacturing Company 2017” at Pharma Leaders Power Brand Awards 2017
Enaltec Labs Founders Mr. Anand Shah,Managing Director & Mr.Susheel Koul,Co-founder & Director voted as First Generation Entrepreneurs of the Year 2017
@Enaltec received a milestone achievement as the company received the most prestigious "India's Most Valuable API Manufacturing Company 2017" & its founders @andyshah9373 ,Susheel Koul, were declared First Generation Entrepreneurs of the Year 2017 at @plspowerbrand 2017 pic.twitter.com/3YPcXcMAxJ
— Pharmaleaders (@pharmaleader) December 28, 2017
Enaltec Labs Limited, a Mumbai based company engaged in API Contract Manufacturing, Custom Manufacturing, Development & Validation of Analytical Methods, Contract Services, Contract Services Formulation Development was awarded the prestigious title of “India’s Most Valuable API Manufacturing Company 2017” at the iconic 10th Annual Pharmaceutical Leadership Summit & Pharmaleaders Business Leadership Awards 2017 on the theme “Bullet Healthcare Express The Healthcare Roundtable – Fixing The Healthcare Chaos & Transforming the healthcare delivery systems” on Friday, 22nd December, Hotel Sahara Star, Mumbai, India by a nationwide poll comprising of selected target audience of pharma companies, medical professionals, consultants, policy makers, research firms & trade bodies for its continued & sustained campaign to bring revolutionary products in the market & Management’sinspiring leadership to drive Enaltec Labs as one of best managed pharma API company. Enaltec Labs first was shortlisted as top six finalists by the Network 7 Media Group’s Pharma Leaders selection, later the company received the final selection by the juries & public at large. The Company’s Founders Mr. Anand Shah,Managing Director,Enaltec Labs Pvt. Ltd & Mr.Susheel Koul,Co-founder & Director, Enaltec Labs Pvt. Ltd. received the prestigious category of First Generation Entrepreneurs of the Year 2017 making a strong debute & making its presence felt in the indian pharma sector.
Veteran Odisha Leader & Minister of Food Supplies & Consumer Welfare Surjya Patro who was invited as the Chief Guest of India’s Most Prestigious Healthcare Leadership Summit gave away the prestigious Pharma Leaders Power Brand Awards organized by Network 7 Media Group’s 10th Annual Pharmaceutical Leadership Summit & Pharmaleaders Business Leadership Awards 2017 at Hotel Sahara Star in a power packed gatherings of india’s top Pharma Companies, healthcare leaders,CEO’s, Hospital owners healthcare technology companies at a glittering award ceremony attended by more than 350 who’s & who’s of india’s healthcare industry. The other awardees included top names such as Dr. Ramakanta Panda, Chief Consultant for CardiovascularThoracic Surgery,Vice Chairman & Managing Director, Asean Heart Institute, Dr. B K Goyal, Interventional Cardiologist,Director of Cardiology Bombay Hospital & Medical Research Centre, top cardiologist Dr. Tarlochan Singh Kler, Chairman, PSRI Heart Institute, Prof. (Dr.) D. S. Rana, Chairman, Board of Management, Sir Ganga Ram Hospital, Dr. Ashok Rajgopal,Chairman & Executive Director,Fortis Bone & Joint Institute, Fortis Group of Hospitals, Mr.Rajiv Nath,Jt.Managing Director, Hindustan Syringes & Medical Devices Ltd, Abbott Healthcare, MEDICA Super specialty Hospitals among others. Padmashri Dr. Mukesh Batra, Founder Chairman Emeritus, Dr. Batra was the guest of Honor. Satya Brahma, Founder of Pharma Leaders Group & Chairman & Editor-In- Chief, Network 7 Media Group who also hails from odisha joined with Surjya Patro in the award ceremony. Speaking on the process of selection & methodology, Satya Brahma, Founder Chairman of the Pharma Leaders Group said “Pharma Leaders mantra is very simple & clear. We don’t follow a fixed set of rules of traditional theories of selecting a nominee in the final six list either based on seniority, age or celebrity status. We go by our research, experts advice & bring to light those talent & innovators who never got noticed in mainstream media or recognized. When they see their names in the big six final list, they feel proud, for us, that is the winning moments after relentlessly following & chasing for finding the credible name!”
Enaltec Labs Limited Overview
Founder members: Mr. Anand Shah – MD & CEO and Mr. Susheel Koul – Director (both of us are first generation entrepreneurs and Enaltec being our first venture).Enaltec’s journey started in 2006, with a concept of developing and manufacturing small volume to mid volume APIs and to partner with generic pharmaceutical companies around the globe and not competing and conflicting with these companies in their own markets. Our initial days which I recollect for myself and my partner Mr. Susheel Koul a journey full of Sleepless nights, lot of discussions and brainstorming, before finally taking the leap and creating Enaltec labs. None of us coming from business family, but just having our entrepreneurship dream and madness in our mind, we both left our stable jobs and set out on our own. Now as first generation entrepreneurs we retrace our journey from the days of a lab in the basement in 2007 to having three multi-storey facilities doing research and manufacturing at Ambernath in 2008, a two-hour drive from the center of Mumbai.Enaltec Labs, the company was created, for niche small volume active pharmaceutical ingredients (APIs). Our business model had always been never restrict ourselves to one product one market strategy but work on multiple products which are smaller in volumes in therapeutic categories like CNS, Cardiovasculars, Opthalmic, derma. We started with initial capital of Rs. 4.5 crore, largely from an investor and the rest from partners. An equivalent amount came from a bank.
We left at peak of our career, working for one of the most respected and reputed & visionary pharmaceutical company. Our only idea was to cover our personal liabilities and requirements to more than maintaining the lifestyle we were used to. It was a big step for us then, which we can easily talk and recollect the journey now, but for a person whose father had also never changed job for 42 years and workded only in one company, I was always taught to always pursue career as employee of a firm…IT WAS SURELY A BIG STEP.However we had a dream of creating Enaltec labs a pharma company which people can recognise and relate us as to this company as founder and achiever and being a partner of choice for generic pharmaceutical companies.
BANKERS AT SEA
In 2006, Enaltec started with trading, doing the “bread and butter” business and generating revenues. The money generated went back into the business. If you want to get into small value API, you need research, is something they understand and live by. Enaltec grew from 12 employees to around 500 people today. Enaltec means “enabling technologies”, we focused on challenging APIs and creating innovations in process and various other forms, and file our patents.
We wanted to create something different and plough back about 8-10 per cent of the company’s revenue into research. But bankers don’t understand investment in developing a product going off patent in 2016. We are creating IP (intellectual property) and products were our assets. I recollect how we approached private banks in the early days, and none understood our concept and merely stuck to rules and guidelines. They did not have a concept of evaluating IP and were more comfortable with physical assets such as manufacturing plants, that is meaningless for a drug-maker if you don’t have well-researched products to make in these plants.All they want are figures, this was major irony of evaluating a start-up on a track-record it is still to create. The problem doesn’t end there. If a bank does extend support, then because they don’t understand the innovation-driven business model, they seek a high interest “it’s a double edged-sword”. Finally one of the PSU bank did take a risk and gave us small funding to fund our plant. Following are our few milestones that we have achieved since then and no looking back:
Ø 2008 started building up of Ambernath manufacturing facility from scratch
Ø 2009 started first validation batches
Ø 2010 filed our first US DMF from plant
Ø 2013 got our first US FDA inspection and got our compliance with zero 483s
Ø 2015 got our second US FDA approval with again no major 483s and got our compliance
Ø 2017 we took over Indore manufacturing unit, and will be commencing production somewhere in mid-2018.
Since then we have also filed more than a dozen DMFs in US and also in various in semi regulated markets. We also have in our pipepline current more than 25 products commercialised from 2 manufacturing facility and also another 10 to 12 of which we would be filing our DMFs in next 2 years in US and a couple in EU.