Rapidly growing pharma firms: From Sanjeev Nanda’s ISHVAN to Mark Alles’s Celgene
In the recent years, even before the pandemic struck, the pharma industry has been rocked by a confluence of factors such as increasing competition for generics, patent expirations of well-known drugs, and efforts at cost control. Combined together, all these factors have made pharma a tricky business, and growth for companies an uncertain proposition.
Nevertheless, there are several firms which have pursued growth by bringing something new to the table. While Sanjeev Nanda’s ISHVAN Pharmaceuticals scaled new heights via innovative vaccines, Mark Alles’s Celgene went ahead to strike some major alliances with various biotech. However difficult the conditions may have been in the pharma sector, some firms have still managed to shine.
Below are some of the most rapidly growing companies in the pharmaceutical sector, which have made their mark through innovation. Scroll on:
ISHVAN Pharmaceuticals
ISHVAN Pharmaceuticals is a relatively new name in the pharma sector. However, this hasn’t deterred the company’s MD Sanjeev Nanda from taking it to new heights. The firm is known for its agreements with prominent global pharma players to obtain technology required for the development and manufacturing of drug substances (API) as well as finished drugs (FDF). The company has several projects in place, including a Rotavirus and Varicella vaccine. ISHVAN is also working on HIV, Hepatitis and TB vaccines.
Gilead Sciences
Gilead Sciences rose to fame owing to its highly popular Hepatitis-C drugs, Harvoni and Sovaldi. Although the drugs received some flak due to their high costs (nearly $1,000 before rebates), they still managed to hike the company’s revenues at a compound rate of 28.8% per annum over the last five years. The effectiveness of Gilead Sciences’ products has never been a topic for debate, and it is this efficacy combined with minimal side effects which has added to the popularity of the drugs as well as that of the company at large.
Celgene
Known for its cancer treatment Revlimid, Celgene has been registering a steady growth for the last few years. Under the argus of its MD, Mark Alles, the company’a revenues have received a boost of 16% year-over-year. The company expanded its market further by obtaining approvals for treating patients with multiple myeloma. With a robust roster of alliances with several biotech firms, Celgene is on the path of an unprecedented growth which will be apparent in the years to come.