28 Feb 2013, BioSpectrum Bureau , BioSpectrum
Started in 1999, India-based GenAxy Scientific with its corporate office in New Delhi and head office in Solan, has made a mark in offering wide product range in plasticware and instrumentation.
Equipped with customer friendly, motivated, well learned, qualified and trained personnel in all the departments, and well organized distribution channels comprising of five branch offices and 184 distributors, the company in 2011-12 recorded a revenue of $6.8 million (Rs34 crore) and has shown consistent growth over the period of time.
Its sister concern Future Biosciences too has made significant development in lab consumables business by registering close to $1 million (Rs5 crore) revenue in the last fiscal. Mr Navneet Trehan, CEO, GenAxy Scientific, talked about the company's performance, product additions, future outlook and biosupplier market trends.
How do you measure the performance of GenAxy Scientific in the last year? How have things unfolded for Future Biosciences?
The performance of GenAxy in the past year has been excellent. New product lines and extended range of existing products has increased our credibility to many folds. We started offering robotic systems with high-end customized and innovative solutions. This venture is in collaboration with the state-of-the-art technology from Canada-based Aurora Biomed, Taiwan-based and Arise.
Started in 2005, Future Bioscience (FBS) has made its presence felt in the Indian market. The company has been ranked among the top 50 companies in India in the past two years. Strategic and strong tie-ups with Bisicion, Cleaver Scientific, Grant, and TPP have made FBS a reliable supplier to the scientific fraternity, besides the launch of indigenous range of plastic consumables.
How do you differentiate yourself in the competitive biosupplier market?
We have extended our operations in proteomics. We are now launching the magnetic beads technology from Axygen. It is going to contribute in a big way in the coming months. We will be launching many new product lines in proteomics and genomics in next six months, after we stabilize our new range of products such as 15/50 ml tubes and the other plasticware range.
GenAxy has also launched platelet incubators and a complete range of autoclaves from Nuve. We will also be launching a range of incubators such as shaking incubators and refrigerated shaking incubators.
Customers' satisfaction through business ethics makes us different in the competitive market. We value our relationship with the scientific fraternity and prove it by giving them world class products and best sale services.
What are the latest trends in the Indian biosupplier market? How do you see the growth of the suppliers market?
The latest trend in Indian biosupplier market is the increased competition due to entry of multinationals in the Indian market. The market too has grown reasonably well by providing ample space for everybody, who have been introducing innovative range of products.
Government support with the liberal funding for innovation and R&D through different agencies such as Department of Biotechnology (DBT), Department of Science and Technology (DST) and Indian Council for Medical Research (ICMR) has been a key growth driver for the supplier market.
What is that one cardinal thing that is hindering the growth of biosupplier industry?
The lack of collective voice among the members of the sector is one of the key factor that is definitely hampering the growth of biosuppliers. There is an urgent need for suppliers to unitedly fight for the challenges before the sector.
What is the future outlook for the company?
We will be concentrating on developing indigenous products and in the next few years we will be launching innovative products in the area of plastic ware, reagents, buffers, competent cells and pre-poured ready-to-use petri dishes. The year 2013 will witness the advent of new exciting products with GenAxy's signature of customers' satisfaction through business ethics earmarked on them.