ENTOD Pharmaceuticals has launched their super-specialty ophthalmic surgical division, ‘HyTek’ which caters to hi-tech solutions for ophthalmic surgical needs, said the company via a statement.
The statement notified that ENTOD’s HyTek division will especially focus on the products which are required during ophthalmic surgical procedures like cataracts, refractive surgeries, etc. With ENTOD’s high degree of sophistication and international compliance of eye-care standards, the launch is further expected to help the ophthalmology fraternity in India.
Speaking about the development, Nikkhil K Masurkar, Executive Director, ENTOD Pharmaceuticals, said, “ENTOD is a specialty pharmaceutical company. However, our main focus has always been ophthalmology. We have huge expectations with the launch of this new division. It will give us the opportunity to strengthen ENTOD’s collaboration with the large ophthalmic medical fraternity of India and around the world. Also, it will enable us to serve patients with the best-quality surgical products. We have always been competing with the multinationals, and over the last decade, we have seen exponential growth in our business. This has been purely because of our business model, which is patient-centric, and is based on cost-effectiveness without differentiation between the products for the local and the export markets.”
He added, “With more than 150 finished ophthalmic formulations in circulations around the world and highly qualified, experienced global field force of R&D, production and quality assurance teams, we’re always working on developing newer and safer speciality preservatives and excipients for the ophthalmic pharmaceutical sector. Although, ENTOD has ophthalmic, ENT and paediatric segments, 60 per cent of our sales comes from ophthalmic. The launch of our new division is expected to contribute an additional five per cent growth in revenue initially, and we’re expecting more with expansion.”
The statement notified that the HyTek division has been launched in Mumbai and subsequent extension plans are in progress for other metro and sub-metro cities.
It further said that eye diseases in India are increasing. Every year, close to five million cataract surgeries are performed in India. Based on the increasing burden of eye diseases and growth in technological advancements, the ophthalmic surgical market is expected to register a CAGR of 7.3 per cent from 2020-2025.
Through products manufactured at their state-of-the-art WHO GMP and US FDA-approved manufacturing plants, ENTOD aims to provide innovative ophthalmic medicines in countries where there is an acute shortage of such formulations. Their business agenda is to penetrate into growing economies with their range of products and make a positive impact on healthcare, added the statement.