Contract manufacturing is considered to be the back-bone of the pharmaceuticals industry not just in India, but in many countries of the world. In India, the pharmaceutical contract manufacturing industry is growing at a rate of 20 percent and is paving the way for opportunities for a number of startups as well as Small & Medium Enterprises. Besides, the Indian economy has emerged to be a low-cost formulation market that exports a large portion of its manufactured pharmaceutical products to different countries of the world. However, the clients in this industry often have to face a market scenario wherein some players sell sub-standard products that do not meet the parameters.
Coming to their rescue is Maya Biotech which is a well-established third party for merchant exporters and domestic clients. The company has been serving a number of large players in pharmaceuticals with various products manufacturing. In the company's MD, Manoj Agarwal’s words, “Maya Biotech believes in providing genuine and ethical products for the patients, whether for their company, for the marketed company or any B2B selling. Our services are totally reserved and dedicated for the patients”.
Huge Product Range
Manufacturing critical pharmaceutical products with high quality and specification are the core strength of the company. Maya Biotech is one of the leading manufacturers of injectable, dry powder, PPI products, liquid injections and suspensions. The company's expert team takes care of the fact that each of these products meets the parameter requirements so that the end-customers who are the users of these products come under no harm. In Manoj’s own words, “We don't have any NSQ so far in the market that does not have standard quality in India and worldwide”.
The contribution of the company to the Indian economy is huge, as it has also begun exporting the products in the international market, especially in the countries of Europe and Latin America. The company has been able to cater to such large market demand pertaining to its high capacity to produce 25-30 lakh units in a month. However, Maya Biotech also has to face challenges that come with the price rise of raw materials in the domestic market. As Manoj mentions, such challenges do not let the company compromise on their quality parameters. He says, “We are thankful to our clients and patrons who are approaching us irrespective of any price change. They trust Maya Biotech for our quality of services and products”.
Maya Biotech believes in providing genuine and ethical products for the patients, whether for their company, for the marketed company or any B2B selling
Overall Journey & Future Prospects
Manoj mentions that, like all other industries, Covid-19 dealt a heavy blow to the pharmaceutical industry also, as it in-creased demand for the products and drugs associated with it. But the market has begun to rise once again, and the company is aiming to address further consumer market requirements as a third-party contract manufacturer. While their current capacity is 3.5 crore units per annum, Maya Biotech is aiming to establish a new block that will be effective to manufacture about six crore units per annum. Manoj concludes, “It will be up and running within a year’s time. I believe everyone in this industry should at least contribute their services ethically and intentionally with the principle to provide a good product for the patients”.