| |DECEMBER 202419sources over 15 products from the company, provide rolling forecasts for their annual product needs. Each month, the client submits detailed deliverables, and SP Accure Labs ensures that all products are dispatched by the 25th, allowing sufficient time for transportation and adherence to deadlines. Production is meticulously planned in advance, with goods manufactured a month ahead of their delivery dates, ensuring timeliness and quality.Staying Ahead of the CurveSPAL stands out in the specialty formulations segment due to several key factors that have contributed to its growth and success. A major differentiator is the company's technically-sound leadership. Vijaya Prakash has a strong technical background and is deeply involved in every aspect of operations, including manufacturing, development, marketing, and quality assurance. This hands-on leadership ensures that every stage of the production process is closely monitored, maintaining stringent quality standards. By personally overseeing critical elements such as API vendor qualification, raw material supply management, and quality control, the MD minimizes supply chain disruptions and ensures that production timelines are met. Another strength of SP Accure Labs is its efficient and structured manufacturing process. The company operates under detailed plans designed by the MD, ensuring consistency, precision, and adherence to production schedules. This well-organized approach allows the company to efficiently manage its operations, contributing to timely product deliveries and maintaining high-quality standards.Cost competitiveness is another significant advantage for SP Accure Labs. As a medium-sized company, it operates with lower overhead costs than larger pharmaceutical firms. This enables it to offer high-quality products at competitive prices, which is crucial in a highly competitive market. The company manufactures products for leading pharmaceutical companies like Zydus, Torrent, RPG, and Intas, which market these products with a 30-40 percent profit margin. SP Accure Labs' ability to combine competitive pricing with excellent quality gives it a strong edge over its competitors.In addition to strong internal processes, the company has cultivated long-lasting client relationships. Its commitment to timely deliveries and high-quality products has helped build trust with its clients, leading to strong partnerships with major pharmaceutical firms. This reliability, combined with the ability to scale production, has positioned SP Accure Labs as a trusted partner in the industry.A Noteworthy JourneySP Accure Labs has achieved several key milestones since its inception. Starting with a single facility, the company expanded in 2020, quadrupling its capacity by 2024 to meet growing demand, particularly in oncology. A major breakthrough was the development of paclitaxel albumin-bound nanoparticles, a novel breast cancer treatment, driving annual market growth of 30-50 percent over five years, strengthening the company's reputation in oncology formulations.Founded by Vijaya Prakash in 2013, SP Accure Labs swiftly grew, beginning production in 2014 and expanding into Injectables by 2016. The company's first regulatory approval came in 2017 from Nepal's DDA, followed by European GMP accreditation in 2018. Global expansion continued with Russian GMP certification in 2019 and accreditations from South Korea, Belarus, GCC, Ethiopia, Iran, Iraq, and Turkey, cementing its presence across Asia, Europe, the Middle East, and Africa as a key oncology player."Going forward, we will be focused on expanding our product portfolio to include novel drug delivery systems (NDDS) alongside its conventional dosage like Nanoparticles, Liposomes and Depot Formulations. We have increased our facility capacity fourfold to meet market demands. A key strategy involves collaboration with various international partners to develop monoclonal antibodies, a major focus for the company. By 2026, we aim to launch these monoclonal antibodies for both domestic and export markets. This strategic shift towards innovative drug delivery systems, including nanoparticles and liposomes, combined with the introduction of monoclonal antibodies, positions the company for significant growth and a market strike rate exceeding 100 percent in the coming years", concludes Vijaya Prakash. PO
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