PIILLS: Ten Commandments for a Pharma Entrepreneur
L.J College of Pharmacy has organized the informative session “Ten Commandments for a Pharma Entrepreneur’’ with Mr Binoy Sharma. Mr Binoy is working as a Director (Operations) at SOHAM ERP Solutions Private Limited on 22nd July, 2023
The session was started by Mr Binoy with an explanation of why one should be an entrepreneur. He explained ten elements that leads to the journey of entrepreneurship. He started with the histroy of pharma evolution from 18th century where household remedies were in practice, he explainedthe introduction of anesthesia in 19th century and how recent tools like Artificial Intelligence, robotic surgery are emerging at present.
He furthered explained the statistics of pharma market, which is around 1.5 trillion at present. He guided different elements which includes purpose, passion, persistence, plan, preseverence, profitability, problem solving, productivity, potential and people skills. During the session, he gave examples of many successful known entrepreneurs namely Mrs Kiran Shaw, Founder of Biocon, which is an indian multination biopharmaceutical company based in banglore and talked how clearly her purpose was to start the company from scratch, another example was of Mr Yusuf Haimed, Chairperson of Cipla pharmaceuticals, and demonstrated a strong sense of purpose by focusing on producing low cost generic medicines to address public health challenges. Another example Mr Binoy gave was of Mr Dilip Sanghvi, founder of Sun Pharmaceuticals, and explained how he showcased immense persistence in building his company from scratch, despite facing initial challenges, he persevered and today Sun Pharma is India’s one of the leading pharmaceutical company in the world. Another example was of Mr Pankaj Patel, Manging director of Zydus Cadilla, under his leadership, zydus expanded its product portfolio and entered global markets with a well executed plan. And lastly he gave example of Mr Ratan Tata, Former chairperson of Tata Sons, and explained how passionate he is for innovation and social responsibilities.
He continued the session by explaining some unexplored areas of pharma such as Artificial Intelligence, Industry 5.0which is being used to bring new drug production to market, Precision meddicines to develop treatment for specific population, Extended reality and Real world data.
Lastly he concluded the session by saying that good marketing makes the company looks smart and main objective that one should Build personal brand.