India is rapidly gaining a stronghold in the global life sciences industry. Having already proven its capability in the production of vaccines and generic drugs, the country is on its way to conquering new frontiers such as biopharma. Even in the trying times of the Covid-19 pandemic, the industry has exhibited agility to achieve a higher speed to market and operational efficiency.
Under pressure to expand the accessibility of healthcare, the industry has expedited digitalization throughout the value chain. While it happens, there has also been an apparent shift of approach from diagnostic care to preventive care, increasing the demand for nutraceuticals/preventive medicines. Moreover, as real-world evidence becomes integral to regulatory submission to any agency, contractual clinical research services are increasingly being sought after.
However, the major expectation of clients in this field is that the products ought to resolve their unmet challenges with an added advantage. Preference is being given to high-quality deliverables blended with a greater degree of trust and empathy towards end consumers. Fulfilling these requirements is Enactis Healthcare Private Limited, a promising startup that has shaped its strategy around these objectives to improve every day. “An overall positive perception about our products/thorough ethical and professional approaches is getting noticed and appreciated by our clients gradually,” says Sridhar Somanathan, Business Unit Director at Enactis Healthcare.
Backed with rationale and concept
With the focus shifting from treatment to prevention, pharmaceutical companies are looking to provide complete healthcare packages. The scope of preventative care is being widened by the advent of genomics which is opening new avenues for identifying the susceptibility to diseases in a smart way.
Enactis is tackling the challenge head-on to develop ground breaking products for chronic care, primarily in preventive and supportive care in addition to therapeutics. “We have very simple yet unique molecules having great potential to grow. We follow a holistic approach wherein each product development is backed with rationale and concept. It comes under the evolving category of products,” adds Sridhar.
Currently, Enactis has five products in its portfolio out of which four are for supportive care and one is therapeutic. The products have been developed with the intent of empowering the clinicians to optimize the treatment outcome and to fill the existing gaps. The approach is in stark contrast to the usual run-of-the-mill production of brand after brand in the life sciences industry. In order to achieve the requisite quality, the company has stringent mechanisms in place. Since its inception, it has been able to ensure batch-wise standardization which is one of the main challenges for start-ups.
“Our unique selling proposition (USP) is to launch “exceptional and differentiated” products. While some of those are natural with the purpose of targeting the underlying root cause of the diseases, others are meant to maximize the Overall Clinical Remission by which it provides the solutions for practicing clinicians and benefits to end consumers,” explains Sridhar.
Off the beaten track
What has made Enactis well poised to bring about a change in healthcare is its will to tread off the beaten track. Instead of donning the hat of a conventional company, it has been trying to carve a niche for itself in the market. For instance, it is for the first time in India that “Significance of reducing Leaky Gut (Intestinal Permeability) is being discussed with specialty doctors through one of its products. The company is keen to target the unoccupied spaces in this field. For example, one of its products is aligned with the “Antibiotic Stewardship Programme” by which it brings solutions to the table and sets standards to lead the race in the area.
When the startup was founded, it faced several headwinds which it steered past to stand in the position it is today. With the gained confidence, it has been marching on ever since, now looking to consolidate its offerings and strengthen its portfolio. “Although launching Branded Generics of recently established large molecules with differential pricing strategy is attractive and comparatively facile to penetrate the market to scale up a turnover in the Indian market, we keep it as the last resort. Instead, we try to launch more and more niche products or small molecules which have an edge over others,” elucidates Sridhar. The company is evaluating potential collaboration in both the prescription sector as well as the FMCG sector in the near future to expand the reach of its products to a vast audience through effective avenues. Enactis is also open to getting novel products of any segment from other start-ups under licensing method.
Adhering to strong financial discipline
Even during these tough times, Enactis has been able to continue regular manufacturing and refill its product inventory with new batches. It has inculcated such capability by adhering to strong financial discipline and time-bound deliverables. Following a plough back model, the company prefers bootstrapping for the autonomy it brings along. “Although we are in deviation of our actual plans, we are able to manage our operational expenses and make other right investments to grow. As for the intangible Key Performance Metrics of our company, our internal/ external customers and stakeholders are quite satisfied and confident on Enactis, which is a great achievement for any startup,” adds Sridhar.
Our unique selling proposition (USP) is to launch “exceptional and differentiated” products
One of the examples of the efficacy of products provided by Enactis is how one of its products when included in the treatment protocol to a particular diagnosis, empowers the clinicians to rationalize the use of antibiotics. Subsequently, it benefits the patients to avoid developing any antibiotic resistance besides achieving increased treatment response as an added advantage. Similarly, with other products, the clinicians have observed a marked reduction in relapses. The experiences have benefitted both the clinicians and end consumers. One such instance was sent by the clinician for journal publication through a case report. Enactis is keen to have more clinical documentation of its products. Another testimony to the effectiveness of the company’s products is the fact that an ideal dosage/duration adherence by the users has been witnessed with its products, which is an indirect reflection of the compliance and benefit of the product. “Our services revolve around science dissemination and clinical support,” says Sridhar.
“We have very simple yet unique molecules having great potential to grow. We follow a holistic approach wherein each product development is backed with rationale and concept”
Lean, flat, and decentralized
If we look at the startup’s journey so far, Enactis has always been able to achieve consistent break-even. The company’s clients are scholarly, selective, and thought leaders in their respective domains. Although the startup is currently a regional player, it plans to achieve geographical and new segment expansion on its own or through collaboration. It is looking to bring more diversified healthcare products with a focus on niche segments through multiple promotional avenues. This is in line with its passion to create new markets. As an organization, it wishes to rely more on its core competencies while being open to taking risks. With its belief in organic growth, the startup plans to retain its organizational structure as lean, flat, and decentralized to maximize the business growth with limited resources available.
.jpg "Overcoming the Hurdles of Scaling a Startup")
We use cookies to ensure you get the best experience on our website. Read more...
