The Hindu Business Line : Dabur Pharma eyes European market for cancer pills

FOLLOWING the footsteps of pharmaceutical biggies such as Ranbaxy and Dr Reddy's, Dabur Pharma Ltd is planning to spread its wings by foraying into key European markets of Germany, France, Spain and Italy especially for its oncology products.

The company also plans to give a major thrust to its anti-cancer drugs in the less-regulated markets of Brazil and Mexico, besides Thailand, the Philippines, Malaysia, Russia and the CIS countries.

Dabur Pharma has a portfolio of 34 oncology drugs including finished dosage formulations and active pharmaceutical ingredients (API). The international business during 2003-04 grew by 22.1 per cent to touch Rs 80.6 crore, stated the company's latest annual report.

The company already has a presence in the UK through Dabur Oncology Plc and is looking at a mix of either country-specific alliances or its own presence in the other European markets.

For the Latin American markets, it has already sewed local alliances and the operations would be headquartered out of Brazil.

For the Asian markets, the company will set up new branch offices and beef up distribution.

During the year, Dabur Pharma will also focus on the US markets in a big way.

It has a strategic alliance with Abbott Laboratories for marketing and distribution of its products in the US.

The company's manufacturing facilities for active pharmaceutical ingredients at Kalyani in West Bengal and dosage forms at Bordon in the UK comply with the US FDA standards.

Dabur Oncology Plc is in the process of filing its first abbreviated new drug application (ANDA) for the US markets and has filed its first common technical document (CTD) for the UK market.

Even in the domestic market, oncology products will be an important part of the product portfolio.

The overall size of the Indian market for oncology formulations is estimated to be Rs 225 crore with Dabur Pharma garnering a 20 per cent share.

"Our strategy is to increase market dominance and offer a complete range of anti-cancer products at low cost," said the company.

The company hopes to better the overall oncology market growth rate during the next few years.

Proposes employee stock option

DABUR Pharma Ltd, which recently separated from Dabur India Ltd, is planning to offer an employee stock option plan (ESOP).

The company is seeking shareholders' approval at its forthcoming annual general meeting (AGM) later this month.

The company feels that the ESOP will motivate the employees and enable them to participate in the long-term growth and financial success of the organisation.

It will also be able to attract and motivate employees by rewarding performance and retaining the best talents.

According to the plan, up to 5 per cent of the paid-up share capital of the company will be available for being granted to eligible employees and directors.

The remuneration committee will administer the ESOP 2004 and formulate the terms and conditions including the eligibility criteria, quantum of options to be granted to an employee and rights of an employee to exercise all vested options at one time or at various points of time within the exercise period.

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