The COVID-19 pandemic has led to a health crisis and economic shutdowns unprecedentedin recent history. While causing immense devastation and disruption the pandemic is alsoa powerful reminder of the invaluable role of the pharmaceutical sector in saving livesand enhancing the quality of life for millions.
FOR EVEN AS THE WORLD CAME TO A BRIEF STANDSTILL HEALTHCARE COMPANIES STEPPED UP TODELIVER ON THEIR RESPONSIBILITIES OF MAKING MEDICINES AVAILABLE TO PATIENTS.
AT ALKEM WE ARE PROUD AND HUMBLED TO BELONG TO THIS SECTOR WHICH HAS RISEN TO FIGHTTHE PANDEMIC ENSURING CONTINUITY OF PATIENT CARE DESPITE THE DIFFICULT SITUATION.
Entering fiscal 2021 COVID-19 was just beginning to make its impact felt across India.Very soon the pandemic started dominating the news and individuals businesses andcommunities were dealing with unforeseen challenges.
At Alkem being categorised under 'Essential Services' we had to find ways to keepmanufacturing going despite lower workforce attendance due to the lockdown. Lesseravailability of transportation along with interstate lockdown created logistical hurdles.
We also had to rise to the challenge of fulfilling unexpected changes in demand 1 ofsome medicines and circumventing 1 the unavailability of some raw materials I in wake ofsupply chain disruptions.
I Furthermore in-person interactions I with healthcare professionals had to be mcurtailed due to their limited availability and implementation of social distancingmeasures to stem the spread of the virus.
Looking back as a Company we can be proud of the effectiveness with which wenavigated this challenging period. We swiftly adapted to new ways of doing things. Ouragility ensured minimal business disruptions and uninterrupted delivery of our healthcareproducts across India and the world.
We demonstrated that we are a company that takes its responsibility very seriouslyirrespective of the obstacles in our path. Moreover embracing the learnings from the pastyear has helped us to emerge stronger - a great example of a positive which has arisenfrom the challenges of the pandemic.
Against an extraordinary environment it is my pleasure to report that Alkem reported aresilient performance for the full year. While the lockdown impacted our India operationsin the first half of the fiscal we made a speedy recovery post unlocking of the economy.In the international markets especially in our key market of the US we maintained ourtrack record of strong performance driven by new launches and market share gain in someof our existing products.
People at Alkem have worked tirelessly and tenaciously during the lockdown and beyondto manufacture and deliver medicines for the benefit of patients. It was heartening to seetheir commitment and resolve in this extreme year and we are truly thankful for theirefforts. While our people enabled us to deliver on our purpose their health and safetyremain our foremost priority. We are taking all necessary measures adhering to governmentand public health authority guidelines and supporting individual circumstances so that wecan ensure uninterrupted safety for our people and balance this with the business need ofproviding uninterrupted delivery of healthcare solutions.
As a socially responsible company we are committed to improving economic and socialoutcomes in the communities where we live and work. Today some of the most pressingchallenges being faced by people are centred around health with the lack of affordableand accessible healthcare solutions denying many a fair chance to life. We entered into apartnership with Tata Memorial Centre to set up a state-of-the-art cancer care facility inMuzaffarpur Bihar and also establish 3 mini cancer units in adjoining cities. Theseupcoming facilities will enable local communities to better manage their cancer caretreatment at an affordable cost.
In a pandemic year we also provided protective equipments and food essentials to helpwin the battle against the invisible enemy. In addition we continued with our regularinterventions in areas of education and rural infrastructure.
In closing we would like to sincerely thank our employees customers partners themedical fraternity government agencies and shareholders for their support throughout theyear.
I would also like to extend my sincere appreciation to my fellow Board members and thesenior management. We are grateful that we have always been in a position to count ontheir engagement experience and capabilities to navigate this unprecedented period. Alkemwill continue to work together with all stakeholders pursue its mission and makemeaningful contributions to society.
|Stay healthy stay safe. |
|Warm Regards |
|Basudeo N. Singh |
|Executive Chairman |