Meteoric Biopharmaceuticals aims Rs. 500-cr turnover in next 3 years

The vision is to become the finest and the most sought-after company in the Biopharmaceutical landscape across the globe, by extending unprecedented service and quality parameters. The mission is to work continuously towards introducing novel ingredients and formulations in the biopharmaceuticals market by innovative research. With this mission and vision, Ahmedabad-headquartered Meteoric Biopharmaceuticals is moving ahead on a sharp growth trajectory, projecting a nearly 14-fold jump in its turnover over the next five years. Speaking to Bizz Buzz exclusively, Gaurav Kaushik, managing director & CEO, Meteoric Biopharmaceuticals, outlines his ambitious plans of how his company would make it happen and would make it there

The government has been actively reforming and restructuring regulations in biopharmaceuticals for Indian companies to compete at a world-class level. However, there is a great necessity to make uniform and relaxed regulations as a single solution rather than struggling with state-level regulations, long and complicated channels for approval of R&D, pre-clinical and clinical trials, and neutral development. The accelerated development in the biopharmaceutical sector requires very clear guidelines and quick approvals. New drug development programs and innovations should be given priority and approval should be given in a few days. Lastly, preview and regulatory banned for biopharmaceutical should be separated and needs to be structured separately than typical pharmaceutical drugs

The overall Enzymes market in India was estimated to be $308 mn in 2019 and is growing at 7% annually. The Probiotics market value stood at $0.9 mn in 2021. The market value is expected to reach $1.1 mn by 2027 with a CAGR of 20.50% for 2022-2027. The Nutraceuticals market in the country is estimated to be $4-5 bn. India is the global leader in nutraceuticals. This market is expected to reach $18 mn by 2025. The Dietary supplement market in India is valued at $3294.44 mn and will reach $10,198.57 mn by 2026

What is the overall market size of enzymes, probiotics in India at this point? What is the overall market size of nutraceuticals in India? At what rates they are growing?

The overall Enzymes market in India was estimated to be $308 million in 2019 and is growing at 7 per cent annually. The Probiotics market value stood at $0.9 million in 2021. The market value is expected to reach $1.1 million by 2027 with a CAGR of 20.50 per cent for 2022-2027. The Nutraceuticals market in the country is estimated to be $ 4-5 billion. India is the global leader in nutraceuticals. This market is expected to reach $18 million by 2025. The Dietary supplement market in India is valued at $3294.44 million and will reach $10,198.57 million by 2026.

What kind of regulatory framework would help this segment grow further?

The government has been actively reforming and restructuring regulations in biopharmaceuticals for Indian companies to compete at a world-class level. However, there is a great necessity to make uniform and relaxed regulations as a single solution rather than struggling with state-level regulations, long and complicated channels for approval of R&D, pre-clinical and clinical trials, and neutral development.

The accelerated development in the biopharmaceutical sector requires very clear guidelines and quick approvals. New drug development programs and innovations should be given priority and approval should be given in a few days. Lastly, preview and regulatory banned for biopharmaceutical should be separated and needs to be structured separately than typical pharmaceutical drugs.

Are you a B2B company or a B2C? What do you bring on the table and what is your customer base, currently?

Meteoric Biopharmaceuticals is a B2B company, which has become a one-stop solution for all biological requirements across Enzymes, Probiotics, Nutraceuticals, Finished Formulations and Animal Healthcare. We also offer unique services of product customisation, concept formulation and contract manufacturing under one roof. The company, at present, has as many as 10 patents and over 50 trade marks to its name. At present, we service over 500 customers across 50 industries in over 90 countries.

With over 50,000 sq ft of production area, we have the largest portfolio of Enzymes for food and pharma industry. We are India's largest supplier of Bromelain, Sodium Hyaluronate, Co Enzyme Q 10, L-Gluthathione Reduced, Lactase, Bacillus Coagulans, S-Adenosyl-L-Methonine.

So what's next?

We are continuously and relentlessly on the path of R&D and innovation. We have two fully functional labs including a Microbiology Lab. With innovation and R&D, you can compete with the MNCs and stay competitive. We have now started vegetative form of Pancreatin. Our Pancreatin IP and Pepsin IP have been successfully registered in CDSCO. We have commercialised more than 100 brands under formulations.

What was your last year's turnover?

It was Rs 60 crore

…And projected turnovers for the next 3- 5 years?

We will certainly reach Rs500 crore within next three years and Rs800 crore over the next five years. We are pretty confident about that.

India itself has a huge market, but you export your products also. Which are the countries, you export your products to? And how much of your revenue comes from exports?

At present, we export our products to 60/70 countries including the US, Europe, the UK, Brazil, Singapore, Malaysia, Israel, Turkey, South Africa, Oman, Sri Lanka, Iran, Coumbia, Egypt, Vietnam, Japan, Korea, Algeria and many others. Nearly 60-70 per cent of our revenues comes from the export markets and the rest from the domestic markets.

Going forward, what would be your thrust- export or domestic markets?

Going forward, our thrust between export and the domestic market could be 60:40. However, with demand and awareness is actively increasing in the domestic market for novel biologicals. If this trend and demand are consistent and continue to thrive we would be highly interested to cater the domestic need first.

Since you have such a large export base and majority of your revenue comes from exports, do you have any plans to branch out and have your operations outside India?

The New Jersey Governor had invited us and responding positively to the invite, we are setting up an office with some operations there. Since the US is already a large export market for us, we are familiar with the rules and regulations, regulatory requirements in that country. In Sweden also we are working on three projects.

Can you mention some of your products under different categories?

Under the Men category, we have Men's vitality, Stress & lifestyle management products. Under Geriatrics category, we have joint pain relief, symbiotic formulation, sleeping disorder, cognitive improvement. Under Kids/Adolescents, we have Probiotic spore gummies for IBS, Chewable Calcium tablets for bones, Lactose intolerance drops, Lactobacillus rhamnosus GG sachets, Dry syrups for diarrhoea, Cognitive functionality products. Under Women category, we have Probiotics for UTIs, For better hair, skin and nail, For acne, Iron Supplements, Pre-post and during pregnancy, Multi-vitamins & minerals for pregnancy, post-menopausal, Stress and lifestyle management, Calcium supplements for women, PMS, mood swings and period cramps, women's fertility. Then under General category, we have Probiotics for IBS, Probiotics for kidney functioning, Enzymes for digestion, Prebiotic formulation, Multi vitamin mineral supplements, weight management, antioxidant's formulation, Lactose intolerance, Synbiotics formulation, Probiotic treatment post antibiotics, Cuccumin sachets, Focus improvement, to mention a few.