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Ensuring Packaging Solutions At Par with Renowned Overseas Players
Vikram Yeolekar, General Manager-Marketing, Harikrushna Machinetech Pvt Ltd, talks about the company’s performance and highlights the packaging trends in pharmaceutical industry.

Please tell us about the performance of the company during the past few years.
Harikrushna Machinetech, since its inception, is very clear about qualityoriented growth. We have grown from a very small set up in 2000 to two state of art advanced facilities with dedicated R&D set up today. We achieved 25 crores in FY 11-12, shall cross 35 crores FY 12-13 and are poised to achieve 100 crores by 2014-15. Our packaging solutions/equipments have been performing satisfactorily across the globe including EU & CIS. We believe that our consistent thrust to offer user-friendly pharmaceutical packaging equipments with international standard compliance is one of the very important key growth drivers.

Highlight the latest achievements, strengths and capabilities of your company.
Recently, we have received prestigious awards like trendsetter award for 2012, SME award for 2012 to name just a few. A dedicated team of professionals who always work like a team to achieve a given task is our prime strength. Our advanced facility (ISO certified) with its R&D setup is our equally important strength. With our innovative approach towards high end pharmaceutical packaging solutions, we are capable to offer advanced equipments like pre fill syringe filling and stoppering systems, cartridge filling and stoppering systems, high speed labeling equipments for vials, ampoules cartridges and PFS, advanced sleeve applicator for oncology products, unique filling systems for highly viscous products in ophthalmic segment.

How conducive and beneficial has Gujarat been for the growth of your company?
Gujarat is indeed the right place for us. Be it our the manufacturing units or the proposed collaboration with international giants for latest pharmaceutical packaging solutions, Gujarat has always been at the forefront of Indian life and economy and provides a very investor friendly and conducive environment and development in pharmaceutical technology.

Which are the new markets you are currently focusing on and which ones you plan to tap in the future?
Apart from India currently, we are focusing and setting up our associate base in African countries like Nigeria, Egypt, Democratic Republic of Congo, South Africa, Tanzania, Kenya, Ghana, Mozambique, Zambia, Zimbabwe and Mauritius. In future, we shall focus on CIS countries like Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan and Ukraine.

Kindly outline the future roadmap of your company.
We shall mainly focus to provide high end pharmaceutical packaging systems for the segments like ophthalmic, oncology, protein, plasma and biotech products. With quality equipments & dependable after sales services, we ensure that our packaging solutions are at par with renowned overseas players.

How do you foresee the future of the Indian pharmaceutical industry?
The global pharmaceutical industry is currently registering rapid expansion, with advances in manufacturing processes, and technology innovation and integration, which are the main factors behind the growth of the pharmaceutical packaging industry globally. This growth is expected to be highest in the emerging economies of India and China. The pharmaceutical packaging industry will continue to grow as drugs worth USD 142 billion go off patent in the next five years, expanding the generic market and the entire pharmaceutical packaging industry.

The fastest growth in the pharmaceutical packaging market is expected to come from pre-fill syringes and parenteral vials, which will continue to expand as advances in biotechnology lead to the introduction of new therapies that must be injected. The increasing demand for biologics will strengthen demand for innovative product packaging solutions in the global pharmaceutical packaging market. However, the packaging industry will have to overcome challenges, such as the availability and price volatility of raw materials and changing health regulations, in order to meet increasing demand from the growing pharmaceutical industry. The market size of drug delivery devices and blister packaging is expected to grow at a faster rate than other segments in the pharmaceutical packaging industry. Increasing demand for improved drug delivery mechanisms and more complex biologic molecules will have to be complimented with better drug delivery devices. Products such as inhalers, nasal sprays, trans dermal patches and oral ingestion containers have redefined the market and become as important as the drug itself. Also, blister packaging will record growth because of increasing usage of unit dose packaging. Some industry segments such as plastic bottles will register average growth, while others, such as glass bottles and containers, may record a decline in demand as they will be replaced by lightweight and cheap plastic products.