1. In 1974, Ramesh Juneja held the position of a medical representative at Kee Pharma, a pharmaceutical company. While on a field visit, he was deeply moved witnessing someone resorting to selling jewelry to pay for medicines. This experience fueled his desire to make medicine more affordable.
2. After dedicating eight years to another pharmaceutical company, Lupin, Ramesh contemplated a change. He ventured into establishing an antibiotics company, Bestochem, which unfortunately faced failure by 1994. Undeterred, Ramesh, along with his brother, started a pharmaceutical company with an initial investment of Rs 50 lakh in their hometown, Meerut, UP, giving birth to Mankind pharma Ltd in 1995.
3. The concept was straightforward: offer cost-effective, innovation-driven, high-quality pharmaceutical products to enhance patients’ lives. The company’s tagline was “Serving Life.” Ramesh initially focused on selling affordable painkillers and antibiotics but was aware of the challenge.
4. To enhance brand recognition, he began labeling medicines under the name “Mankind Pharma,” concentrating heavily on smaller towns and rural areas. Within the first year, Mankind pharma Ltd achieved a revenue of 3.79 crore.
5. The growth continued with just 25 sales executives, making a strong entry into the 2000s. Their blood pressure tablets, Amlokind and Glimestar, gained popularity, offering a cost advantage of nearly 50% compared to competitors like Cipla and Sun Pharma. In 2001, Ramesh inaugurated the first manufacturing plant in Paonta Sahib, Himachal Pradesh.
6. By 2005, Mankind Pharma joined the 500 crore turnover club, showcasing that a pharmaceutical company could achieve substantial sales growth within India. Encouraged by the success, the private equity firm Chrys Capital invested approximately 100 crore in Mankind pharma Ltd. However, Ramesh identified a crucial aspect of the business.
7. Ramesh recognized the need to sell medicines that didn’t require a doctor’s prescription. In 2007, he embraced the “Over the Counter (OTC)” approach, marking a transformative moment in Mankind’s history.
8. Star products like Manforce condoms and Prega News (Pregnancy Kits) were introduced, targeting the growing GenZ population with an extensive marketing budget of 50 crore. By 2010, Mankind Pharma joined the 1000 crore turnover club.
9. Mankind Pharma expanded its portfolio with antacids (Gas O fast) and nutraceuticals (Nurokind LC), and Manforce condoms evolved into a 100 crore brand. In 2015, the company joined the 5000 crore turnover club.
10. On April 25, 2023, Mankind Pharma went public with an IPO, raising 4326 crore. It achieved revenues of 7782 crore, becoming India’s 4th largest pharmaceutical company by domestic sales and the 2nd largest prescription drug maker. It transformed into an 80,000 crore company. Today, Mankind Pharma boasts a workforce of over 22,000 employees and 9,000 sales agents. Despite the company’s 22,000 crore valuation, Mr. Ramesh Juneja remains actively engaged, personally connecting with all of them over phone calls.