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Ayurvedic industry is gaining momentum in the Indian subcontinent and major pharmaceutical companies are diversifying their reach to cater to the growing demands of the herbal remedies. After Ranbaxy and Cadilla, the next big name to enter the Ayurveda market is Ipca Laboratories, a Mumbai based pharmaceutical company with assets of Rs1100 crore. However, the ayurvedic drugs are going to be marketed through a new subsidiary called Ipca Traditional Remedies that has been set up especially for the segment. The company has also invested Rs.20 crore for its new endeavour.
The targeted ailments that Ipca’s medicines promise to cure reveal an interesting story. Ipca launches medicines for acute viral hepatitis, anaemia, anorexia and fatigue. Later on, medications for asthma, bronchitis, nasal allergies, acute promyelocytic leukaemia and others would also be introduced. Ranbaxy and Cadilla had already started their herbal segment, and this time it’s Ipca. Ayurvedic drugs are already a rage all across the world. The entire industry stands at an estimated Rs. 6000-7000 crore. With a new entrant in the market, competition is going to be even tougher and that will only ensure global standards of manufacturing. Gradually, the small enterprises that thrive on the blind beliefs of people, encashing Ayurveda as a ‘6000 year old science of life’ will be wiped out. This can be good as well as bad. The good thing is that Ayurveda will get brand names and those still fascinated by the magical efficacy of modern drugs will revert to Ayurveda. The bad thing is that with the small companies losing out to brand competition, other small enterprises will be discouraged to enter the segment. This can cause growth of monopoly power in an increasingly disproportionate market.
However the sad part is that all these companies using Ayurveda as a means of diversification are using it only to boost up sales that modern drugs are failing to cover. Talk about India being the dumping ground for banned medicines from the US! These companies are focusing mostly on lifestyle and beauty segments. Let’s see what remedy for asthma Ipca can bring out.
In this respect, Asoka Lifescience Limited has done a plausible job by launching a unique drug for asthma. It’s one step above the conventional Ayurvedic segment. It’s called poly herbal and the tablet called Res-Q has been made by using a novel drug delivery system, after research and development done by Jadavpur University. Let’s see if the biggies will walk the extra mile and focus on finding out ways to relieve the people of more serious chronic ailements other than remedies to grow hair on a shiny pate or modifying the vital assets of the human body.
Many are wondering why our company is named Asoka. One curious and witty consumer even commented if we were propagating Buddhism (like the famous King Ashoka) by any chance. Well, our medicines are only violent enough to feed on viruses! From that point of view, we are definitely propagating non-violence to the organs of the body. And going by Buddha’s teachings, we humbly acknowledge that it’s just not possible to find a single human being who has not been touched by sufferings, either due to death or disease. That’s the only thing definite and constant about human life. It stretches and makes us suffer. That’s where Asoka comes in. Asoka is the name of a famous tree. Legend has it that Gautam Buddha was born under this tree in Lumbini. The tree is well known for its flowers and beautiful foliage. Besides, this tree is an integral part of herbal medicine and is used for curing a lot of disorders especially of the female body. All these factors taken together give us reasons enough to consider this as our namesake. We are about to spread our branches very soon in the pharmaceutical market of the Indian subcontinent. And Buddha wishing, we are all poised to attain nirvana!
