Having a robust growth strategy is crucial for any organization to succeed in a highly competitive industry. A leader who possesses a strong understanding of market trends, consumer insights, and industry behavior can develop a growth plan that drives progression and enhances the company's reputation. Arushi Jain, Director of Akums Drugs and Pharmaceuticals, joined Akums in 2018 and has since grown to become one of India’s finest leading businesswomen.

Arushi is a distinguished professional committed to strengthening the company’s market positioning by implementing unique managerial strategies, process improvements, business strategies, risk mitigation, building efficiencies, digitizing operations, and maximizing growth opportunities; helping Akums become a powerful enterprise in the field of pharma contract manufacturing. With Akums being led ably by her focused leadership, Akums will continue to spread its wings in the domestic as well as global pharma markets. Below is an excerpt of Arushi Jain's exclusive interaction with Women Entrepreneur magazine.

How has your professional journey been so far? What drew your interest in the field of pharmaceuticals?

I inherited a strong passion to serve the nation by building its health and making it disease free – a passion that runs in my blood since the company began its pharmaceutical venture. Furthermore, my initial stint at Ernst & Young, a well-known accounting firm, equipped me with valuable expertise in process enhancement and financial analysis while instilling values of diligence and commitment. Throughout my professional journey, I have consistently refined my skills and thought processes to pursue loftier objectives within the pharmaceutical realm. Additionally, I firmly believe that determination and perseverance are indispensable for achieving success in any sphere of life, a belief that resonates deeply with Akums. The organization is renowned for its unwavering dedication to quality, service, and efficiency.

Tell us about the key areas of specialization that you have gathered as a business leader in the pharma industry so far.

 As a committed business professional, I am determined to enhance Akums' market position through innovative management strategies, streamlined operations, effective risk management, improved efficiency, process automation, and capitalizing on growth opportunities. With an unwavering focus on marketing and growth strategies, I want to ensure the company's continued success. Moreover, my efforts will be in the direction to establish Akums as a dominant player in the pharmaceutical contract manufacturing landscape, setting new industry standards for excellence and accomplishment.

Introduce us to Akums Drugs. Tell us about the underlying idea behind the venture and its key areas of specialization.

Founded in 2004 by Sanjeev Jain and Sandeep Jain, Akums has become the largest Contract manufacturing pharmaceutical company in India. The organization produces more than 12 percent of the country's total drug consumption, and its 15 state-of-the-art manufacturing facilities produce a broad range of dosage forms.

"With an unwavering hold on growth strategies, i am a pivotal force in honing akums' leadership ranks to ensure the company's continued success"

Akums offers an integrated solution for development and business goals in the pharma sector, from drug formulation development to go-to-market strategies. The company also specializes in bioequivalence studies, clinical trials, and obtaining regulatory approvals. With over 15,000 employees, Akums has attained national and international accreditations, including EU-GMP and ISO certifications. It exports to 55+ countries worldwide and is a leader in innovative and technology-driven products.

In your opinion what are some of the most critical challenges you encounter as a leader in pharma? What steps do you undertake to overcome these roadblocks?

We encounter several critical challenges, such as the high cost of Research and Development (R&D), stringent regulations and compliance, and the need for access to affordable and quality drugs. R&D is a long and expensive process, which can impact drug pricing and hinder companies' ability to recover their investments. Non-compliance with regulations can result in significant fines, legal issues, and reputational damage. To overcome these challenges, we invest in R&D, collaborate with regulators and policymakers, form partnerships with other organizations, invest in employee development, and create pricing strategies that balance revenue generation and profitability with affordable and accessible drugs for patients. These steps help the firm to create innovative drugs and improve access to quality medicines.

How did your Alma Mater IIM Ahmedabad influence your journey and growth as a business leader?

IIM Ahmedabad's reputation as one of India's top business schools is well-deserved due to its rigorous academic curriculum and emphasis on leadership and management skills. The school's case-study method of teaching provides students with exposure to real-world business challenges and the opportunity to analyze and solve complex problems. This practical experience helps students develop critical thinking skills that are essential for success in the corporate world. In addition, the institution's strong alumni network provides graduates with valuable networking opportunities. Overall, IIM Ahmedabad has played a significant role in nurturing my skills, knowledge, and experience.

Arushi Jain, Director, Akums Drugs & Pharmaceuticals

Arushi Jain is a qualified CA and accomplished business leader with extensive experience in the pharmaceutical industry. Arushi has held positions at Ernst & Young and presently, serves as the Director at Akums Drugs & Pharmaceuticals, where she is instrumental in positioning the organization as a prominent player in the pharma contract manufacturing sector.