We believe a critical component of the ongoing success and sustainable growth of our branded products business is our ability to develop and introduce new products into our portfolio.
We ensure each of our products passes through a strictly monitored pipeline, from product identification, through development, manufacturing, and finally to launch.
We believe a critical component of the ongoing success and sustainable growth of our branded products business is our ability to develop and introduce new products into our portfolio.
We ensure each of our products passes through a strictly monitored pipeline, from product identification, through development, manufacturing, and finally to launch.
From January 1, 2008 until June 30, 2013, we successfully launched 88 new Mega We Care products, comprised of 15 nutraceutical, 68 prescription pharmaceutical, and five OTC products.
We currently have a product development pipeline of 139 new unique formulations, of which 73 have already had registrations applied for and are pending approval, with an additional 66 unique formulations in various stages of development.
Responsibility for research and development lies with the product development department of the company. Our product development department is comprised of two teams. Our in-house product development team is based in Samut Prakarn, Thailand.
Our product outsourcing team meanwhile is based in Mumbai, India, which is focused on sourcing new product candidates developed by third parties. As of March 31, 2013, we employed 44 professionals in our product development teams.
When it comes to selecting new products all our major departments coordinate to make a decision, right from the sales and marketing team, to finance, to medical affair, and beyond. We evaluate the science and intellectual property behind potential new products, following which we formulate a proposal covering manufacturing, intellectual property, regulatory criteria, and more in order to make a final decision.
Once a new product proposal is approved, we elect to develop new product candidates either in-house, or to procure them from third party technical dossiers to submit them for regulatory approval.
Our team in Thailand is responsible for in-house product development activities and is focused on prescription, OTC and nutraceutical products.
Its activities typically include product formulation development, analytical development and validation, process validation, testing, and gathering other technical data needed to prepare a new product technical dossier for regulatory filing.
Our Indian team is responsible for outsourced product development activities and is generally focused on identifying and sourcing existing dossiers for new generic prescription pharmaceutical products available for licensing from developers and partners.
As these prescription pharmaceutical product candidates have existing technical dossiers, we are able to proceed immediately to product registration in our markets.
