India’s healthcare scenario has undergone massive transformation in the past few years. There’s a growing need for potent, quality medicines that cause fewer side effects, which has spurred pharmaceutical companies to invest heavily into R & D. While earlier only the big brands took the credit for producing innovative drugs, recently, even the smaller ones have pioneered breakthrough reforms in the industry.
Century Pharmaceuticals Ltd. is one such brand which has a host of drug innovations to its name. A brainchild of Mr. Janak Sheth, the brand was established back in 1980 with the purpose of manufacturing active pharmaceutical ingredients. Initially, it offered only two products to its customers. Today, 40 years since its inception, the brand has attained exponential growth in not just its product offerings but also its market outreach. Century Pharmaceuticals currently produces 40 different products across a broad spectrum of drug categories, and exports them to 60 countries worldwide. Besides this, the brand has also established a WHO GMP Plant with zero discharge.
Mr. Janak Sheth’s Inspiring Entrepreneurship Journey
Undoubtedly, the most inspiring elements of an entrepreneur’s success story are his struggles and challenges along the journey. They enrich us with hope, wisdom, and also the motivation to hold steadfast to our goals in the face of adversity.
Mr. Janak Sheth’s Entrepreneurship journey too was filled with trials and tribulations, many of which are responsible for moulding his staunch character today. He graduated from IIT Delhi in 1976 as a chemical engineer. Soon afterwards, he joined a multinational pharmaceuticals company, wherein he had to design, install, and run a plant overseas. During the course of this job role, Mr. Janak Sheth acquired all the knowledge and technical acumen that was needed for running a company. After about 4 years, he quit the job and started his own unit, with 95% of its finances being covered by government loans. Initially, Mr. Janak had to endure a lot of difficulties since he had no prior experience in business. Furthermore, he was operating on a very low capital, which made it hard to sustain the business for long. However, despite the daunting circumstances, Mr. Janak persevered and after three years of struggle, he finally paid back all the loans he’d taken from the government much ahead of time. The company has been growing ever since, continually expanding its clientele at both national and international levels. It has also managed to secure a long-term relationship with all its clients, retaining most of its original customers.
Mr. Janak, through his 40 years of grit, perseverance, and hard work, has inspired a lot of budding entrepreneurs to follow in his footsteps. Moreover, he has garnered widespread recognition in not only the pharmaceuticals but also several other industries.
Mr. Janak’s Broad and Diverse Clientele
Century Pharmaceuticals serves to a broad spectrum of clients, from small and medium sized organizations to large and even multinational companies.
Generally, the regulatory requirements of large and multinational brands are very complex. It takes a detailed and methodical approach to satiate their specific demands. However, despite the convolutions of the process, Mr. Janak Sheth enjoys working with all kinds of customers and catering to each one’s unique requirements. This dedication towards customer service has helped him retain most of his customers while fostering the brand’s growth at the same time.
Century Pharmaceuticals’ Noteworthy Certifications and Recognitions
Over the years, Mr. Janak Sheth and Century Pharmaceuticals have received a multitude of certifications and recognitions, both on the national and international level.
Here are some of the most notable ones:
Fair Business Practices (Indian Council for Fair Businesses).
Gold medal for Excellence in Business Practices (Switzerland).
Gold Award from Lockheed Martin in Biotech technology.
FGI award for Excellence “Outstanding MSME” – 2011.
Leaders of Tomorrow by ET Now – October 2013.
Winner of Quality Mark Trust Awards 2016.
Qualified for Gold in ZED Certification from QCI India (ZED ID – ZEDQCI1211718).
The Most innovative Brand – 2019 in Business View Magazine.
India’s Leading Pharmaceutical Companies to watch in 2020 by Prime View Magazine.
CEO of the year by Business Connect Magazine Nov. 2018.
An Aspiring Entrepreneur in Technology Widgets Magazine – March 2019.
Business APAC’s Zealous Business Leaders of 2019.
Best Entrepreneur 100 in CEO Insights Magazine – March 2019.