Local pharma firm aims to boost market foothold

Cebu, Philippines - Even if the industry seems to be having a slower growth rate due to the present global economic crisis, Filipino pharmaceutical company Innogen Pharma Group continues to see growth areas in the market this year.

By capitalizing on the continuously growing trend of patronizing affordable generic medicines, Innogen Pharma Group aims to etch a stronger position in the country’s billion peso pharma industry which has long been dominated by multinationals, said Vamsler Philippines operations manager John Paul C. Guevara during the launching of the company’s Pharmacoprotection health card at the Parklane Hotel.

The company through one of its divisions, Vamsler Philippines, also launched its newest generic anti-cholesterol drug called Atorvastatin.

Guevara said that this latest product line is pegged 40 percent lower compared to its originator brand but is specific on maintaining product quality and efficiency which is very timely at these times of economic crisis wherein every patient is likely cutting on costs.

Currently, Vamsler has two major brands under its cardiovascular category, which include Clopidogrel which was launched last year in the market.

Guevara said that Atorvastatin is targeted for cardio patients with hydro cholesterol cases, heart problems and diabetics, which is a growing condition in the medical field.

He said that the recently launched product Clopivaz has already garnered a strong foothold in the market because its patronisers which include patients and doctors alike are growing significantly and has performed above their sales targets for 2008 and the first quarter of this year.

“We hope that Atorvastatin will perform well the same in the market because so far, it is considered as the second brand next to the originator but it is offered at 40 percent lesser price. We target a significant number of patients to use the brand,” he said.

Guevara stressed that during these tough times of crisis, some patients will likely spend lesser on their medication considering their shrinking consumer power.

“We want Atorvastatin to help patients comply with their medications and treatments because right now, anti cholesterol drugs are quite expensive. There is a really big market for this type of drug even if there are various generic brands already,” said Guevara.—Rhia de Pablo