The Indian pharmaceutical and healthcare industry has long been dominated by men, a trait it shares with many of its counterparts abroad. But now a big change is sweeping across this immensely technical and challenging business landscape. A new crop of women business leaders has emerged at the top, coming up with game-changing ideas and services in some of India's top pharma and healthcare companies. Their business acumen apart, these women have added tremendous value in shaping their organisations.
They are reinventing age-old practices and promoting diversity to meet challenges and take their companies to the top. Some like Ameera Shah of Metropolis have built the business from scratch while others like Samina Vaziralli of Cipla have been handed the reins of a 80-year-old company. But whether it is building businesses or wading hrough troubled waters, they have proved their mettle. They are young, but have come of age quickly. They are not afraid of taking business risks or foraying into newer businesses. They have embedded a culture of inclusive environment and pushed for HR reforms targetted at women in the DNA of their companies — who better than them to understand the struggles of juggling family and business. These are their stories.
The move paid off. Emcure is one of the fastest growing pharmaceutical companies in India on account of launch of innovative formulations developed by its R&D and marketing strategies designed to build brands. In the last 10 years, it has grown from a Rs 500 crore company to a Rs 4,500 crore entity. "I can't take all the credit as my brother Samit and husband Vik have added tremendous value too, but believe I have made some good changes based on my experience in the US. All three of us got a lot of autonomy from my father to make changes," says Thapar.
Thapar says there are plenty of reasons for more women to join the pharma sector. Functions like quality, finance, marketing, IT, regulatory are great areas for women to work, according to her.
Despite the absence of a large number of women in the pharma manufacturing sector, Thapar says she has never felt any gender bias. But she has had to make some tough personal choices such as excusing herself from some key meetings and M&A-related travel for the sake of her two young children. "I believe if you are competent, regardless of your gender you will command respect as a professional," she says.
They are reinventing age-old practices and promoting diversity to meet challenges and take their companies to the top. Some like Ameera Shah of Metropolis have built the business from scratch while others like Samina Vaziralli of Cipla have been handed the reins of a 80-year-old company. But whether it is building businesses or wading hrough troubled waters, they have proved their mettle. They are young, but have come of age quickly. They are not afraid of taking business risks or foraying into newer businesses. They have embedded a culture of inclusive environment and pushed for HR reforms targetted at women in the DNA of their companies — who better than them to understand the struggles of juggling family and business. These are their stories.
Our systems have kept pace with growth: Namita Thapar 39 CFO, Emcure Pharmaceuticals
Key Accomplishment: Expanding global footprint and making five global acquisitions in the past 3-4 year
Key Challenge: Managing work-life balance. Having to earn the respect from peers who judge her as someone born with a silver spoon
Key Accomplishment: Expanding global footprint and making five global acquisitions in the past 3-4 year
Key Challenge: Managing work-life balance. Having to earn the respect from peers who judge her as someone born with a silver spoon
In 2006, five years after she completed her MBA from Duke University's Fuqua School of Business, Namita Thapar got a call from her father Satish Mehta, promoter and CEO of Emcure Pharmaceuticals, to join the family business in Pune. Thapar, a CA by qualification was then working in the healthcare sector in the US — for Glaxo and Guidant (now Abbott) in various finance roles. Emcure had by then received funding from private equity fund Blackstone and had aggressive plans to enter the US market. Mehta felt that with his daughter's US education and experience in the healthcare sector would add value to the business. He persuaded her and her husband to move back to India.
The move paid off. Emcure is one of the fastest growing pharmaceutical companies in India on account of launch of innovative formulations developed by its R&D and marketing strategies designed to build brands. In the last 10 years, it has grown from a Rs 500 crore company to a Rs 4,500 crore entity. "I can't take all the credit as my brother Samit and husband Vik have added tremendous value too, but believe I have made some good changes based on my experience in the US. All three of us got a lot of autonomy from my father to make changes," says Thapar.
Emcure has made five large global acquisitions in the past three years. As CFO, Thapar and her team assisted the M&A team in those deals. "These strategic acquisitions have significantly expanded our global footprint," says Thapar.
At Emcure, Thapar has brought more automation in finance, was closely involved with domestic marketing and helped make meetings more data driven (especially through sales force automation). She also worked withHR to improve critical systems such as appraisal, variable compensation and talent identification. "I am a strong believer that as a company scales, it needs to become more process driven and develop leadership bandwidth," she adds.
At Emcure, Thapar has brought more automation in finance, was closely involved with domestic marketing and helped make meetings more data driven (especially through sales force automation). She also worked withHR to improve critical systems such as appraisal, variable compensation and talent identification. "I am a strong believer that as a company scales, it needs to become more process driven and develop leadership bandwidth," she adds.
Thapar says there are plenty of reasons for more women to join the pharma sector. Functions like quality, finance, marketing, IT, regulatory are great areas for women to work, according to her.
She has launched a program called "Prerna" aimed at increasing the representation of women in the company, which has doubled to 20 per cent in the past four years. Emcure has several women in leadership roles in quality, regulatory, marketing, IT, HR and finance, says Thapar.