An Interview with Vinod Ramchandra Jadhav, Chairman of SAVA Healthcare Limited
With a professional career spanning more than 30 years, Mr. Vinod Ramchandra Jadhav is well versed in Sourcing, Marketing, Sales, Supply chain management, and Regulatory & Corporate affairs in various capacities.
He is well versed in hydraulic systems, Industrial Engines, Global sourcing, Supply chain management, ERP database design, Cross Border Trade, International taxation, First-to-Market Generics & Veterinary Medicine business.
As the Chairman of SAVA Healthcare Limited and Managing Director of Regent Global DMCC, Mr. Jadhav focuses on Manufacturing & Global Distribution of a wide range of high-quality, affordable generics, trusted by healthcare professionals across the globe.
The company is also passionate about developing novel therapeutic solutions for major unmet medical needs. As a result of his expertise and commitment, SAVA Healthcare Ltd. was recognized as the Best Merchant Exporter of India in 2010 by the Pharmaceutical Exports Promotion Council (Ministry of Commerce, Govt. Of India).
Tell us about yourself?
I am a first-generation India-born entrepreneur based in Dubai.
I am Chairman of SAVA Healthcare Limited-India (www.savaglobal.com) and Managing Director of Regent Global DMCC-Dubai (www.regent.co.ae), both companies involved in the pharmaceutical industry.
I completed a Diploma in Mechanical Engineering in 1990, followed by a Graduate Diploma in Materials Management.
During my initial corporate experiences, I gained knowledge & experience in hydraulic systems maintenance, global sourcing, supply chain management, ERP database design, cross-border trade, international taxation, and accounting.
I am an Honorary Member of the Rotary Club of Pune Heritage, the recipient of a Major Donor Crystal from Rotary International, and a “Paul Harris Society” Member.
I am currently supporting charitable initiatives in educating underprivileged children, girl children, and healthcare for the needy. Traveling is my passion, having visited almost 50 countries. In addition, I love art, history & cultures.
What makes you different than other professionals in your field?
Coming from a Mechanical Engineering background, I got exposure to disparate fields. That made me gain experience in global sourcing, supply chain management, ERP database design, cross-border trade, international taxation, and accounting before starting my business.
This meant I could analyze every challenge from various perspectives and find solutions for different challenges in day-to-day corporate life.
This implied I had the option to foster decisive reasoning; I had the opportunity to examine things fundamentally, think of ground-breaking thoughts and ideas, and tackle issues in everyday corporate life to be effective.
Chipping away at various tasks assisted me with testing circumstances, helped me further develop my critical thinking abilities, and helped me grow as a general manager.
How much potential market share can you achieve in the next 3 years?
At the end of 2020, the total global pharmaceutical market was valued at about 1.27 trillion U.S. dollars, and it is growing at a significant pace.
That provides vast opportunities for pharmaceutical companies to expand their business. For example, SAVA Healthcare recently announced its investment of Rs.200 Crore with the acquisition of 15 acres of land in a well renowned Smart Industrial Park (SIP) near Indore, Madhya Pradesh. With its headquarters in Pune, the company specializes in global contract research and manufacturing.
With its legacy of acquisitions over the last decade, SAVA Healthcare has invested several million dollars in enhancing its manufacturing and research capabilities across diverse product segments catering to the global level. The Indore plant in Smart Industrial Park (SIP) of Madhya Pradesh Industry Development Corporation (MPIDC) will be the company’s flagship green-field project. This facility will further aid the company in becoming an Rs. 1000 Crore company in the next five years and achieving an enriched brand identity in the global contract research and manufacturing landscape.
The new SIP Indore plant is designed to build in compliance with the world’s most stringent regulatory accreditations of high-surveillance nations such as USFDA/EuGMP/UK MHRA/TGA. This will potentially scale up the operations and provide 300+ employment opportunities, thereby developing the local economy.
The new facility in Pithampur is poised to augment its respiratory portfolio strength by foraying into full-fledged manufacturing of the pMDI (Metered Dose Inhalations) range additionally. The new plant complements the company’s strength and marks a unique transformation in the company’s history.
The company has significantly expanded its existing research and development operations to an advanced, fully equipped global R&D Centre catering to the ever-increasing global demand. The state-of-the-art manufacturing facilities at Surendranagar, Gujrat, and Mallur, Karnataka, have garnered a sound industry reputation by providing world-class products of exceptional quality at reasonable prices and are approved by many prestigious regulatory organizations. Both plants manufacture a world-admired range of nasal sprays, dry powder inhalations, oral powders, topicals, and oral solid dosages.
What was the most important part of your professional journey?
In 2006, I was facing supply issues due to the ever-increasing demand for branded generics. At that time, the utilization of nonexclusive medications was consistently expanding universally because of monetary tension on the drug budget.
I wanted to buy Indian branded generic drugs from Indian manufacturers. But unfortunately, the way the Indian pharmaceutical distribution system is organized, a trading exporter can’t access manufacturers directly.
I decided to set up a company in Mauritius which will buy medicines from around the world directly from manufacturers.
This also allowed the company to buy at substantial discounts to the established trading prices, giving it an edge over any other trader in the market.
This was a turning point for the business.
What are the best and worst purchases you’ve ever made?
My best investment was buying a wholesale pharmaceutical company based in Singapore in 2013. Today after merging that business into our Dubai operations, it contributes to 45% of our overall business. I invested about 3 million USD in that business, and today it is responsible for most of the profits of the international business.
I made a lot of bad decisions while purchasing various businesses and setting up new companies.
I won’t call them bad or the worst purchases as they give you valuable lessons on “100 different ways of failures”. Those need to be taken as experiences rather than considered as bad or worst purchases.
What takes up too much of your time?
Over the years, I have delegated most of the operational management tasks to stay balanced and overcome declining executive-level efficiency. Doing so allows me to focus on strategic focus areas and less on those minute regular tasks that I shouldn’t do myself.
That leaves a lot of time for me to focus on new growth ideas.
I am trying my best to remain focused on core strengths developed over the last 20 years in the pharmaceuticals field, which serves the medical market and patients.
But I also am involved in handholding startups and early growth companies as an investor and, in some cases, as a director.
What three pieces of advice would you give to college students/new startup business owners who want to become entrepreneurs or leaders in their field?
1. Focus on the uniqueness of the ideas. Never try to copy ideas. Even if it’s an existing idea, see to it that you have the ability to improvise on the concept and offer something different or new. Ventures which have nothing new to offer find it challenging to grow and make a mark.
2. Build strong systems in the starting phase. An organized system means less chaos when you are growing. In addition, strong systems make growth easier to manage.
3. Be optimistic and make full efforts when you have an idea. Conviction is very important for the realization of the idea.
Who has impressed you most with what they’ve accomplished?
Dhirubhai Ambani is one businessman I admire the most. He is the perfect amalgamation of grit and determination; he believed in his dreams and lived them.
He built the equity culture in India and was instrumental in building large corporate houses during this lifetime.
He is a visionary whose life has been an inspiration for me, and I am sure it will serve as a beacon of light for the generations to come.
What drives you to keep going when it’s really tough?
Every day is a new day, and it comes with new hope, new solutions, and new directions to pursue, making my life the way I need it.
Time is a healer and patiently waiting for the tough times to end is essential.
While successful business requires a lot of qualities, one very important quality needed in tough times is belief in God.
Belief in God is another facet of the optimism that one needs to inculcate to keep going in tough times.
How should people connect with you?
I am easily reachable on my LinkedIn page and can be contacted through my website.
Source: Vizaca
