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| 'We don't have space for more partnerships' | | Q&A: Swati Piramal Director, Piramal Healthcare & Vice-Chairperson, Piramal Life Sciences |
| Joe C Mathew & Vandana Gombar / New Delhi Oct 14, 2009, 00:08 IST |
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 Piramal Healthcare Ltd (formerly Nicholas Piramal) — the country’s fourth-largest drug company — has been focusing on international partnerships and collaborations instead of following the high-risk route of patent challenges to grow revenues. The model has proved successful, so much so that global pharma majors from GlaxoSmithKline to Sanofi-Aventis are said to be keen on acquiring the company. However, as Piramal Healthcare Director and Piramal Life Sciences (a separate listed company) Vice-Chairperson, and now also the president of the Associated Chambers of Commerce and Industry of India, Swati Piramal tells Joe C Mathew and Vandana Gombar in an interview, there are no plans to sell any stake . Excerpts:
Has the current trend among Indian pharmaceutical companies to go in for partnership models vindicated your stand taken years ago?
We have been following the same business model (based on partnerships) for the last 10 years. There were people who were not convinced of the importance of research and partnerships. The leopards are now shedding spots. There are many who follow our business model today.
There are global majors said to be interested in acquiring Piramal Healthcare, though you have denied any intention to sell. Is valuation an issue?
I have said it before: We are not doing a sale. We are doing so well.
So are you looking at more partnerships?
We don't have space for more partnerships, even though we are being approached. We are not even able to take up fresh contracts with our existing partners like Eli Lilly (in Piramal Life Sciences). Our scientists are fully busy with the research contracts we have with Eli Lilly and Merck, the two big global players in the pharmaceutical space. We will take up more work as and when we can handle them. There is also the question of overlapping. We cannot sign research contracts with different companies in the same therapeutic area.
Does Piramal Life Sciences carry out all the research?
Drug discovery research is completely with Piramal Lifesciences. Contract research is also being carried out at Piramal Healthcare Ltd. Over 400 scientists collaborate while undertaking independent research works.
Now that you are presiding over an industry chamber, what is the healthcare agenda you will push?
Healthcare is a neglected sector compared with, say, banking. It requires modern legislation and technology. Specifically, we need to continue our campaign against counterfeit medicines. We also need to look at universal health insurance. A forward-looking drug policy, which allows us to factor in the cost of research in our medicine prices, is also required. Today, the costing of medicines does not allow for research. We need to encourage research. The government should not expand the list of medicines under price control and should allow us to generate more funds for research.
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