JOHANNESBURG, South Africa, November 26 /PRNewswire/ -- The 2009 Frost Sullivan South Africa Company of the Year Award in the Generic Pharmaceutical Market is presented to Cipla Medpro South Africa Limited.
For the Company of the Year Award, the following criteria were used to benchmark Cipla Medpro's performance against key competitors: growth strategy and implementation, degree of innovation in business processes, products and/or technologies and leadership in customer value and market penetration.
The company's growth strategy is displayed in both its expanding geographic footprint as well as the diversification of its unique product mix, notes Frost Sullivan Research Analyst Jolize Gerber. The company is growing its South African business by concentrating its efforts on establishing a stronger presence in the local market across numerous therapeutic categories as well as the fast-growing Over The Counter market and, despite adverse market conditions, has enjoyed a solid recent performance in the past year.
The company has exhibited continued growth in its existing products and reveals a strong pipeline of new products. This has given Cipla Medpro a competitive advantage over other companies in the market leading to it being the fastest growing pharmaceutical company by value over the past three years according to IMS statistics.
Cipla Medpro has displayed continued innovation of business processes to maintain growth in a very competitive and complex market. One example is the strategic partnership formed with Cipla Ltd in India, which entails a 20 year supply and manufacturing agreement. This partnership has enabled Cipla Medpro to gain access to RD, resources and opportunities as well as the established, trusted brand name offered by Cipla Ltd.
Cipla Medpro creates and maintains strong brands by ensuring a robust pipeline of novel, high potential products, and by providing ongoing promotions and market support, adds Gerber. These efforts support Cipla Medpro in growing its market share in the South African market.
The company enjoys leadership in customer value by offering competitive pricing of high quality products. It has ensured that its production plant meets international Pharmaceutical Inspection Convention Standards and the quality of its products is benchmarked against international standards.
Efficient distribution and ongoing marketing support has ensured that the Cipla Medpro brand is associated with efficiency and reliability. Furthermore, Cipla Medpro creates customer value by addressing the key challenges within the South African market.
An example of this is its diversification into niche markets, such as the planned launch of its oncology division in 2010, which will address this market segment's need for affordable medicines, explains Gerber. By supplying pharmaceuticals of the highest quality at affordable prices and addressing the growing needs of South African healthcare, Cipla Medpro has gained a competitive advantage.
Jerome Smith, Cipla Medpro South Africa Ltd CEO said he was extremely proud of Frost Sullivan's acknowledgment of the company's efforts.
Our comprehensive portfolio of scientifically advanced medicines, strong pipeline, swift registrations and numerous first to market launches including, recently, the first Biosimilar human insulin, are testimony of our commitment to one guiding ethos, that access to world class, yet affordable medicines is a right, not a luxury.
The local pharmaceutical market is a competitive, regulated one however the growth potential is immense. In 2008, generics accounted for just 28% of the local Total Private Market value. However the rising costs of living, coupled with the rising cost of healthcare and the ever increasing burden of disease, particularly HIV/AIDS in sub-Saharan Africa, is creating higher demand for generic products. Our partnership with Cipla India as well as our ability to operate across the supply chain from manufacturing to marketing and distribution, positions us well to meet this increasing demand.
Frost Sullivan Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Cipla Medpro
Listed on the Johannesburg Securities Exchange, Cipla Medpro South Africa Ltd is one of South Africa's top five, and fastest growing, pharmaceutical groups through its subsidiary, Cipla Medpro (Pty) Ltd. The Group's operations comprise two divisions: Cape Town-based Cipla Medpro, the country's fourth largest pharmaceutical company and provider of an extensive range of chronic medicines and OTC (Over the Counter) products to the public and private sector; and a 4000 m2 PIC/S compliant pharmaceutical manufacturing facility in Durban, Cipla Medpro Manufacturing (Pty) Ltd. In addition to manufacturing some of the group's own products, this facility also offers contract manufacturing solutions to large local and multinational pharmaceutical companies.
About Frost Sullivan
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