Leaders
Throughout history, pharmaceuticals have served as crucial remedies for various illnesses, with early practices involving herbal treatments and plant-based solutions. Today, the process of proving a compound's safety and effectiveness, and subsequently making it available to patients, has evolved into a highly intricate and costly global industry worth billions of dollars. Espee Group was established with the primary goal of providing exceptional services and fostering growth opportunities for its customers, effectively supporting leading pharmaceutical companies. With a dedicated focus on becoming a comprehensive solution provider, Espee aims to serve as the ultimate point of contact for large-scale pharmaceutical manufacturers worldwide, addressing all their needs from product development and contract manufacturing to distribution requirements. Throughout her career, Anar Modi, the Director of Espee Group, has been a pioneering force, offering valuable expertise and profound insights that have significantly contributed to the success of this business venture during her tenure.
During an interview exclusively conducted with us, Anar Modi provided valuable insights into the workings of the industry and generously shared numerous tips that have led to her success and plans for future endeavours.
What are some important facets of your life and professional journey?
The pivotal elements of my life and professional journey encompass a diverse range of experiences that have significantly influenced my path. From academic pursuits in dentistry to attaining an MBA from Nirma University, I have embraced a quest for knowledge. Growing up in a business-oriented family instilled in me a deep-seated desire to venture into entrepreneurship. As I embarked on my career as an Operations Manager at Espee, I seized the opportunity to contribute to the company's growth. Eventually, taking on the role of Executive Director for business development in the USA and UK further broadened my horizons.
“Success in any business field doesn't come overnight; it entails beginning at the grassroots and gradually climbing the ladder”
Guide us through your previous industry experience that you bring to the forefront.
My upbringing has been a significant source of learning about business, work ethics, discipline, and integrity. Observing my father run his own business has been a valuable experience. While my dentistry background has provided me with knowledge in pharmaceuticals and medical terminologies, I firmly believe that my most profound knowledge has emerged from my surroundings and personal experiences, not solely from formal vocational exposure. Starting from the bottom in our business, handling basic tasks like backend operations has been crucial as it allows me to understand the grassroots level, enabling me to better train and guide our team.
Introduce us to Espee Group. What are the various responsibilities you shoulder as the Director of Business Development at Espee Group?
Espee is a service-oriented organization that offers support to innovators, multinational generic manufacturers, CROs, and government bodies in more than 25 countries across 6 continents. Our primary focus is on providing services for research, clinical trials, and bioequivalence studies, alongside supplying the necessary products for these activities. We have a diverse customer base, with large pharmaceutical groups and generic manufacturers being among our valued customers in countries like the USA, India, China, and Turkey, among others. I lead business development and operations for the UK and European markets at Espee, which has an annual sales turnover of around million. Moreover, I also play a pivotal role in heading the HR department for the entire group and other group companies.
As a leader in the pharmaceutical industry, what are some of the significant challenges you face, and how do you tackle them effectively?
In the pharmaceutical industry, I encounter numerous critical challenges due to its dynamic nature. Constant changes in regulations, compliance requirements, and the introduction of new products or improvements on existing ones make it essential to stay up-to-date with every molecule and its implications. Overcoming these challenges requires adaptability and continuous learning. The pharmaceutical landscape in Europe is diverse, encompassing 28 to 29 different countries, each with its own unique business model. This diversity adds complexity to the work, making it a demanding and dynamic environment to navigate. In recent years, the pharmaceutical market has seen an influx of new players, leading to increased competition. However, being a pioneer in the field with more than 15 years of experience, we have managed to retain a significant market share across the board. Despite our success, we encounter daily challenges in the pharma industry due to the ever-changing landscape and intensified competition.
Describe the three most significant professional accomplishments you have reached throughout your career.
I consider earning a silver medal in MBA as a significant professional milestone, especially coming from a medical background where getting into an MBA seemed like a daunting challenge. It was a dream come true to achieve such recognition. One of my most significant professional achievements was elevating Espee from its inception to an impressive annual revenue of $65 million.
What counsel would you offer to women looking to venture into entrepreneurship?
Women entrepreneurs should actively engage in networking, fostering connections with influential and empowering women. It is essential to establish a robust support structure, especially when managing family responsibilities alongside business ventures. Learn to take credit for your work and take pride in it. Focus on what you excel at and hire people for tasks outside your skill set. Strive for expertise in your domain and assemble a competent team to complement your skills.
Anar Modi, Director, Espee Group
With a strong background in medicine and now a thriving career in the pharmaceutical sector, Anar Modi Director of Espee Group is well-equipped to lead the charge in driving growth and success for Espee Group in this dynamic and ever-evolving industry.
