The Outperformers 2014

Global ambition

With a diverse therapy mix in the domestic market, it is now targeting exports to meet its ₹1,000-cr topline target

|
Published 7 years ago on Dec 26, 2014 10 minutes Read

Almost everybody associates Goa with sand, sunshine and feni, but it was also where Govind Ramnath Kare founded Indo Continental Trading Company in 1945. Its main business activity was importing pharmaceutical formulations from Europe and distributing them in western India. Even in those primitive years, Kare was soon to trip over a regulatory hurdle. After India’s independence, the government banned the import of formulations in order to encourage local manufacturers. Kare was made of sterner stuff and instead of backing down decided to up the stakes. He renamed his company Indoco Remedies and turned into a manufacturer. Since then, it has been smooth sailing for Indoco Remedies and after 67 years, the company today has a market cap of ₹2,800 crore.