Dr Jayant Karajgi, COO, Shilpa Medicare, outlined a strategic approach to pharma product development from ideation and execution, till the end of its lifecycle. He emphasised on selecting projects based on company DNA, market data, IP landscape, and regulatory pathways.
He also highlighted the importance of clear budgeting, timelines, ROI expectations, and using stage-gate criteria for go/no-go decisions. While ideation may take time, execution must be swift and focused. In the growth phase of a product, aligning development timelines with business needs is critical.
Dr Karajgi stressed building robust products from the outset, noting that shortcuts often have consequences later. He stressed that strong market positioning helps differentiate the product, and smart pricing strategies ensure sustained profitability. He also pointed out how risk mitigation is essential to protect and expand market share.
He spoke on how products face challenges such as price erosion, stagnant sales, and increased regulatory scrutiny. Statutory changes or compliance burdens can make products commercially unviable. Moreover, market alternatives often gain ground, further reducing demand.
He recommended that at this stage, companies must evaluate whether to revitalise, out-license, or exit, ensuring resources are redirected to more promising opportunities in the portfolio. Dr Karajgi concluded by emphasising that product development remains more of an art than a science.
While data and systems support decisions, human insight is irreplaceable. He advised being financially prepared for ‘bad debt’ projects, as not every venture yields returns. He opined that success lies in mastering the full lifecycle with clarity, resilience, and a long-term perspective. Those who do, he noted, are the real winners in pharma innovation.