Your Company continued to make progress and delivered strong results in the year underreview which has been detailed out in various sections of this report. In this sectionI'd like to share with you why the year was important for us and how it will have abearing on our future.
Planting the seeds for future growth
FY16 was a pivotal year when we looked at the enterprise of the future and took stockof where we wish to be in the next four years and what we need to do to get there. Soquite simply we asked ourselves "What Next?" This was the start of a newgrowth journey and we set out to explore a Prism of Possibilities. We continue to believethat our Company has the diversity and mix of skills experience independence andknowledge required in order for the Company to be able to reach its goals successfully.
Over the past few years the pace of progress has accelerated and we have introducedeffective new technologies for improving accessibility of healthcare therapies acrossgeographies. As we continue to add value through innovation and optimise our resources weremain committed to our goal of bridging unmet healthcare needs and providing therapiesthat address both accessibility and affordability.
We asked ourselves all these questions and more in our overarching goal of ZyNext 2020.
To be better positioned to do this we will need to look at differentiated strategiesthink creatively move with agility and stay in the action mode.
There is a clear understanding at Zydus of how important it is to grow evolve andcontinuously raise the bar of excellence at the marketplace and that is why the quest forongoing improvement is integrated into our business strategy.
We will continue to strengthen our ability to meet our goals - a reflection of ourpeople's commitment to harness their energies and passion to create a better tomorrow.
As we look ahead the strategy is clear and our goal is to execute it well. With astrong management team and more than 19000 people - we believe that we can make thispossible.
The future belongs to those who can innovate
Innovation has been the core of our being. The journey of discovery and innovation thatbegan with our Late Founder Chairman Mr. Ramanbhai B. Patel has become one of the mostimportant pillars of our organisation. We at Zydus have been putting innovation andtechnology to work to make our growth journey more meaningful.
In keeping with our vision to become a research-driven pharma company by 2020 we havestayed invested in research and have been making brisk progress with a robust pipeline ofinnovative medicines including small molecule NCEs biosimilars novel biologics vaccinesand novel formulations.
Lipaglyn our NCE and a first-in-class medicine to treat diabetic dyslipidemia hasbeen delivering excellent results and has benefitted more than 300000 patients since itslaunch in September 2013.We are also looking at developing this product globally forseveral other indications and data on these studies have been presented at prestigiousscientific and medical conferences like American Association of Clinical endocrinologists(AACE) and American Diabetes Association (ADA). Recently our group received approval fromthe uSFDA to initiate a Phase 2 clinical trial of Saroglitazar in patients withNon-Alcoholic Steatohepatitis (NASH) of the liver and additional Phase III trials areongoing in nonalcoholic steatohepatitis (NASH) lipodystrophy severe hypertriglyceridemiaand a few additional indications. A post-marketing Phase-IV study is also currentlyunderway in patients suffering from hypertriglyceridemia in India.
Our research programme is also aimed at finding better cures for people living withvarious kinds of inflammation like rheumatoid arthritis Ankylosing spondylitispsoriasis ulcerative colitis Crohn's disease as well as chronic pain. We remaincommitted to increasing patient access to high-quality biosimilars at affordable costs. Itis this commitment that spurred the launch of exemptia the world's first biosimilar forAdalimumab the largest selling therapy worldwide for inflammatory arthritis. We havebuilt one of the largest biosimilars pipelines in India and currently market eightbiosimilars products in India and have 20 biosimilars in various stages of development.
Our Vaccine Technology Centre (VTC) has been developing vaccines for the basic vaccineprogrammes such as Diphtheria Pertussis Tetanus Haemophilus Influenzae type BHepatitis B Measles Mumps Rubella Varicella Influenza and Typhoid fever. In additionVTC is developing new vaccines such as Human Papilloma Virus Leishmaniasis MalariaHaemorrhagic Congo Fever Ebola and Japanese Encephalitis and many such vaccines which arenot yet produced either in India or elsewhere in the world.
Quest: institutionalising a Culture of Quality
At various stages of our growth we have been looking at key elements that will becomeleitmotif or a recurrent theme in our journey. PRISM our cost opimisation is one suchprogramme which continues to run successfully since its launch in 2002. SLIM - aStrategic Lean and Integrated Manufacturing initiative which started off in a small wayin 2007 is today a power engine of continuous improvement with nearly 3000 ideas and 700members powering it across 20 locations. In 2015 we looked at how Quality in its variousdimensions can become a part of our being at Zydus. Thus began Quest - an exploration thatwill change the way we think and work. With nearly 50 circles across three manufacturinglocations covering 4500 people and a bank of over 500 ideas prioritised forimplementation the programme is well entrenched in the organisation. QuEST - QualityExcellence by Sustainable Transformation is an all important step towards the larger causeof making Quality a way of life at Zydus.
Zydus First Zydans First
With each journey of growth we have been making headway in building a diverse andinclusive culture at Zydus. There is always room for improvement of course which is whyeach of us at Zydus who is actively driving the Company forward believes and espouses thethought: Zydus First Zydans First.
I'm also grateful to my colleagues for their tireless efforts to support and propelforward the good work going on across the organization. The goal of our teams is to helpcreate a successful business enterprise of tomorrow and to make that possible in the mostengaging and enduring way.
I'm truly proud of the progress our Company has made as well as of the commitment anddetermination of Zydans to keep us moving forward on this journey. With an increased focuson innovation strategy execution and talent development we are better organized toserve healthcare needs. Riding high on these factors we will continue to drive strongergrowth and enhance shareholder value.
Pankaj R. Patel
June 22 2016