Forbes India 15th Anniversary Special

Prashant Kumar Pathak's Delcure Life Sciences is just a milestone for him

With his eyes set on many more targets, Delcure Life Sciences is just a milestone and not destination for this man on a mission

Published: Oct 26, 2020 11:42:29 AM IST
Updated: Oct 28, 2020 05:28:20 PM IST

People within Indian Pharmaceutical Industry (IPM) agree that their industry is riddled with volatility, uncertainty, complexity and ambiguity. This VUCA business environment makes it exceedingly difficult for new players to gain a foothold. However, there are also a few who thrive even in such challenging circumstances and establish themselves as an example to be followed, studied, and revered for their sheer will and achievements.

One such remarkable individual is Mr. Prashant Kumar Pathak, Founder MD & CEO of Delcure Life Sciences, who has made the venture DLS a force to reckon with through his clear and distinct differentiating strategies and visionary entrepreneurship. Pathak’s journey, very firmly stands out for his unwavering commitment to the industry, he has chosen and served for over 3 decades.

His journey certainly has not been the easy one. He started his career in the mid 80’s as a Medical Representative in a small unknown API company called Standard organics Ltd at a monthly salary of INR 550. This company, though small at that time, was destined to evolve into a good name SOL, but by that time he decided to move to its new offshoot DRL which got into the share of Dr. Anji Reddy.

Pathak fondly remembers his roots from a small town of Bihar; he initiated his career and through his sheer determination scaled up to becoming the CEO of an Indian Pharma company.

He very proudly claims that he has never worked in any MNC & has been a home grown executive. When he was entrusted upon the remains of once MNC (Searle India Ltd) for revival and resurrection in the year 2007, he started exploring an uncharted course leaving DRL that was RPGLS, he was in a dilemma whether he will be able to bring the required turnaround. Gradually when the business started turning around and moved towards touching 100 cr. marks in formulation business.

He was the first employee in DRL to receive the most coveted award “Chairman’s Excellence Award’ in Jan 2003 which  took 9 years(1994-2003) to be there on the glittering dash of the annual function, but in RPG he achieved  the same  feet in just three years of joining  in the year 2010.

Pathak quit his job as the CEO of a coveted business group, RPG, to start his own venture. Such a decision at an age of mid 50’s certainly needs courage. His social enterprises innovative Idea has already taken the shape as  Impact Public health care (Pvt) Ltd currently filed for closure. Now started a Journey of finding a investor for the project. IPHC dream had full support from his wife Kumkum , son Abhishek, daughters Astha and Asmita but  his father Shri S D Pathak was never in agreement of resigning from a 7-figure salary.

Every passionate two hours presentation by Pathak will have a big sense of appreciation on the face, with remarks like unique and disruptive business plan. Haridwar invitation was on its way to Mumbai and in the last quarter of 2012-2013 MOU was signed between IPHC and Contract manufacturing company for 85 cr. investment at 2 AM in the morning at Director’s office finally.

Mr. Pathak and his colleague came back to Mumbai with a sense of happiness that the hard work of last 7 years will have an address now. But this happiness did not last long and before the first rupee would have come to account, a message came from Haridwar through the EA of the director for a VC to inform that as the business plan is so unique as no one else have done in India and even in world except Dr.Simlaris of Mexico , Project will require  time of the directors for investing in the company, so we are dropping the project”.

When the sun started its Journey towards the west Mr. Pathak was taken to the cabin of the chairman who proposed that let’s put the IPHC project on hibernation, you have been a Marketer known for making brands like Nise, Pcef, Z&D, Rebalanze, Retoze, so on and so forth and I have a desire to Launch a company where business is not built of inducements but on ethical marketing. The chairman was concerned for the declining reputation and future of the group because of the fact the doctors within the family had refused to prescribe his existing company’s products because of the unethical ways adopted for marketing and value less image.

Having been boxed very strategically by the shrewd business men Mr. Pathak had no option but to say yes, while from within his conviction new that it is the worst time to raise a branded generic marketing company and the  promoter is not willing to share their goodwill  coming in public.

That is how a new company appeared on the horizon of the corporate world named DelCure life Sciences Ltd on 31st January 2013. Pathak took the plunge counting on his own personal strengths and com holding company’s promoters had a reputation to exploit everyone who had dealt with them but by the time he got the glimpse of his future he had passed the point of no return and the only option for him was to work hard and remain hopeful for a fair treatment. On 5th of May 2013, first Billing was done and the making of a Big new company has started were the word coined by his Sr.GM who ultimately resulted in his biggest mistake he says in his Delcure project.

Some of the elements he gives credit to his team. The day he got up from his chair 9th August 2018 Delcure was one of the fastest growing Indian Pharmaceutical companies with two distinct business verticals - Winspire and Delvoice, Pathak is a man who has nothing more to prove except that he is capable of more. After resigning from DLS when he was asked by his friends what you are doing now he used to answer that my new boss is my granddaughter who was born on 24th May 2017 when he was MD and CEO of two companies. Pathak says the best thing what happened for me that I could see my GD-Medhawi grow , the turning point came in January 2020 when his son got his posting in Singapore. Though they all have full set up and a dependent pass for Singapore but he postponed his decision to go along and he went back to Hyderabad where his IIM educated daughter Asmita works in 5th ranked ( fortune 500) healthcare provider company of US and his elder daughter a banker turned startup entrepreneur lives with the most dynamic husband Rajeev a director in a large food delivery company.

With smile and hummer he says having his Boss gone for better education in Singapore he started looking for meaning of life again. Keeping himself happy with wife Kum Kum he rekindled his strength.  Today his plate is full, he is Director-BD for countries top prescription Research Company SMSRC based at Kolkata founded by greatest brand strategist of all the time in Pharmaceutical industry Dr.Sanjoy Mitra.

He is on the board of a Canada based Pharma company Cellchem Pharma Inc. Responsible for their Global Strategy.

36 years salesman’s soul in him has knocked to raise once again a company designed to succeed post Covid-19 world so a new company is born -GHC Drugs & Pharmaceuticals Pvt Ltd having it consulting arm BTC-Global in making.

His IPHC project is at a serious level of discussion with an exceptionally large global generic company whose mission is access and availability of modern medicine to under privileged section of society in Africa and India.

“It will be highly satisfying if I could least improve the access of modern treatment with dignity to underprivileged even by 1%,” he concludes modestly.

Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.