in the first quarter of 2010, GSK’s sales rose by 19% to Rs547 crore over the year-ago period, ahead of the drug market growth of 14-15%. Its growth was mainly due to higher volumes and a richer product mix, with price playing a negligible role, according to the company. Sales of vaccines rose by around 48% during the quarter. GSK offers a range of vaccines, for the prevention of hepatitis A, hepatitis B, invasive disease caused by H, influenzae, chickenpox, diphtheria, pertussis, tetanus and others.
The drug maker is driving growth through new offerings, with five new products slated for a 2010 launch. To cover the market with these new products, GSK hired 200 people in 2009 and plans to add 250 more in 2010. A concerted sales push with the help of an expanded field force could make a difference.
UK drug giant GlaxoSmithKline, like many other pharmaceutical majors, is looking to increase its presence in the fast-growing Indian market. “We are looking for acquisitions in India which are attractive to us. We are a very financially strong company,” GSK chief executive Andrew Witty told reporters at Nashik, India.Witty’s been talking deals (he’s in favor of them) and drug prices (they have to be flexible) and strategy (grow via deals and organically in poor and middle-income countries).
GSK-India has huge plans for the Indian market. But are their marketing strategies in tune with the changing media consumption patterns among Indian doctors and population? A conservative approach of maximizing field sales people without having a long term outlook for marketing of newer molecules is just not going to yield the desired results.
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