Filipino pharmaceutical group InnoGen Pharma Group Inc., eyes positive growth potential in the country banking on its advocacy of providing cheaper medicine to the general populace.
“It is ironic that the Philippines does not have a Filipino pharma company that invests heavily on research so it’s a challenge on our part to become one of the first and the best Filipino company with capabilities on research,” said John Paul Guevara, marketing manager of Innogen Vamsler Inc. said during the launching of their “pharmacoprotection” program in Cebu.
Months back, Innogen Pharma launched its Clopivaz product in Cebu and at the same time launched the “Pharmacovigilance” campaign.
Guevara said that the brand has gained foothold of the market after Clopivaz was launched, which is now supported by thousands of patients who suffered from a stroke attack that are now using this easy-on-the-pocket medication.
Clopivaz is an antithrombotic medicine prescribed for patients who suffered from stroke to prevent secondary occurrence of a heart attack.
Guevara said InnoGen is the first company to have launched this generic brand in the Asian region and they plan to expand their distribution to the South East Asian regions in 2009.
He added that with the current economic crisis, most players from the pharma industry are now having difficulties meeting their quotas but Innogen’s Vamsler division experienced otherwise saying they were able to increase its sales by 40 percent this year after the introduction of the new brand.
In terms of pricing, Guevara stressed that Clopivaz is pegged 65 percent lower than the other competing brand, which is pegged at P124 while Clopivaz is only at P44.50 each.
“We look forward for an increasing market share as doctors are giving positive comments with the introduction of this new brand. We want to introduce this brand to a lot of doctors so that more patients can benefit,” he said.
Guevara pointed out that it is their company’s thrust to improve existing products into new forms and much better drugs that will be cost-effective, efficient and of excellent quality for the welfare and affordability of the Filipino end-users. — Rhia de Pablo