Healthcare management is about combining business with a humanitarian outlook. Ourpharmaceutical industry's prime role is to save and improve the quality of patients'lives. We are the custodians of healthcare and this is our key responsibility. GenericPharmasec Limited follows this principle. Generic Pharmasec limited believes that accessto medicines at affordable prices is a fundamental human right and that none should bedenied medication not only in India but globally. The pharma industry is different fromother industries for two major reasons. Firstly monopoly arising out of intellectualproperty rights which gives exclusivity and secondly the high rate of obsolescence ofdrugs. Newer medications have to be continuously innovated to enable long term progress.The global pharma approach is to concentrate and focus essentially on newer drugs futurepipeline and product portfolios R&D and innovation. Within this framework we inGeneric Pharmasec limited believe in the adaptation of appropriate innovative technologieswhich can improve and facilitate healthcare in India.
This focus on nurturing talent and development will go a long way in making GenericPharmasec limited resilient in the face of the fast-paced changes that we see around us.Disruption indeed is the buzzword these days. Pharma is a life-saving industry. Eachtablet each capsule each inhaler is geared towards saving lives and contributing tohealthcare and that is precisely our approach to leveraging technology in healthcare. Astechnology evolves so do expectations from stakeholders such as regulators healthcareprofessionals shareholders industry peers partners and of course patients. Pharmacompanies are already making heavy investments in manufacturing technologies cutting-edge platforms data capture and record-keeping tracking analytics etc. Todaythe pharma industry has the opportunity to evaluate the plethora of plug-in technologyavailable to it to quickly catch up with other sectors in exploring and deploying what thedigital domain has to offer. Businesses that quickly adopt digital will have a hugecompetitive advantage over the others.
One of the biggest paradigm changes that technology has enabled is that it has made ourindustry as a whole more patient focused. And here public policy too has a big role toplay. With the new Central Government in India returning for a second consecutivefive-year term armed with a strong mandate expectations are high. As a pharma company welook forward to support in strengthening infrastructure and ease of doing businessdeveloping a robust regulatory framework increasing healthcare expenditure and balancingof pricing controls with provision of accessible and affordable healthcare. We are alsoeager to explore ways to partner with the Government in its ambitious healthcare schemesto ensure coverage to the maximum extent possible.
I'm pleased to say that we are making significant progress toward those goals. We'vestrengthened our capabilities in many critical areas of operations we have bolstered ourbalance sheet through a timely equity raise and strong operating cash flows and we haveextended our competitive advantages.
Your Company is a strong believer in adaptability and has already been attuning itselfto altering market sentiments. As a Company our vision is to create spaces that areaspirational and live beyond our lifetime; developments that set benchmarks for theindustry and enhance the entire ecosystem they operate in.
As always I would like to thank you for continuing to repose your faith in ourorganisation and standing by us. With a sustained emphasis on quality control executioninnovation and ethics the future augurs well for your Company.Our success so far has beendriven by our most important asset our team! I would like to take this opportunityto thank each and every member of the GENPHARMA family. I would also like to thank ourClients Creditors Banks Financial Institutions and other Stakeholders without whosepatronage we could not have been where we are.