Bussiness Ideas
We want to become a research based global microbiology laboratory in addition to being a highly efficient generic manufacturer. To discover and develop innovative, value-added products that improves the quality of life of people around the world and contributes towards the growth of our Nation.
The Indian Healthcare industry is highly fragmented with about 24,000 players (around 330 in the organized sector). The top ten companies make up for more than a third of the market. The Indian healthcare industry accounts for about 1.4% of the world’s healthcare industry in value terms and 10% in volume terms.
Besides the domestic market, Indian healthcare / pharma companies also have a large chunk of their revenues coming from exports. While some are focusing on the generics market in the US, Europe and semi-regulated markets, others are focusing on custom manufacturing for innovator companies.
India's biotechnology industry comprising bio-pharmaceuticals, bio-services, bio-agriculture, bio-industry and bioinformatics is expected grow at an average growth rate of around 30 per cent a year and reach US$ 100 billion by 2025. Biopharma, comprising vaccines, therapeutics and diagnostics, is the largest sub-sector contributing nearly 62% of the total revenues at Rs. 12,600 crore (US$ 1.88 billion).
The proposed proposal will add value in term of R&D in the herbal industry. The model and the associated concept have the potential to create the expected gains in herbal pharmacy industry; it has the potential to relieve the current customer pains, it serves as an insightful and well-designed process to conduct the required R&D activities.
Channels: Various medium or channels of Mycoera Private Limited will be:
? Physical: News articles, publications, product catalogue will provide the information of products to the customers.
? Websites: Company will provide the digital information to different customers related to their products, business activities.
? Social Media: Social media is very important medium to spread the information about the products and its benefits directly to the customer.
? Sales and Marketing personals: Sales person plays a key role in making sales and conducting marketing activities. These sales and marketing team will be segment-wise or geographic region-wise depending upon the market approach.
? Healthcare distribution network: Key channels of healthcare companies to sell consumer products.
Revenue streams:
? Sales of product: The main source of revenue of Mycoera Private Limited will be through the development and sale of products to different customers in the mass market. Herbal drugs, drinks, protein rich products etc. play a significant role in revenue generation of health care companies.
? Licensing or patent: Another important profit earning source of healthcare companies is the patent that provides incentives for companies to research and development of innovative and new product. The patent refers to a product’s property right, and in terms of bio-product companies, it is considered as a chemical formula that any rival company may not copy. Our main focus on patent the all the product timely. A patent gives a guarantee to investors that their product will remain as the only product of its exact type in the market for long years i.e. 20 years. Patents are highly important to companies due to the great possibility of guaranteed profit.
? Developing R&D: One revenue resource of any research based company is the R&D factor that has a great significance in the industry because revenue’s major share depends upon research and development. We will spend a huge budget in R&D activities to improve quality and novelty of product. The company will have the capability of advanced R&D tend to be considered as the most profitable as through their R&D, products that will have the potential to be highly profitable will be patented.
? Strategic alliance: Company also earns a small portion of their revenue from different strategic alliance agreements through which products of third-parties are co-promoted by them.
Cost structure:
? R&D costing: R&D is considered as one of the crucial ROI (Return on investment) function of any bio-product company and so they spend heavily on R&D activities. The study reveals that pharmaceutical / healthcare companies spend roughly 17% share of their revenues on R&D activities. The reason behind such a big investment in R&D is that in the process of new drug / product discovery, it undergoes various testing stages before selling them in the market which is both costly and time-consuming. The company will more focus on R&D costing.
? Cost of manufacturing: Another major segment of costing of company will be the manufacturing process of quality product in different stages i.e. production including the cost of raw material, quality control, quality assurance, regulatory approval, packaging, warehousing, etc.
? Internal management expenses: other cost includes sales & marketing expenses, partnership management, general and administrative expenses comprises of the salaries and benefits to staff, etc.
? Taxes/ General Administration: Other expenses of companies are taxes and general administration.
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