In the spring of 2013, two businessmen from an American subsidiary of an Indian generics manufacturer travelled to Pune to visit their parent company, Emcure Pharmaceuticals. They met Satish Mehta, Emcure’s billionaire chief executive, to discuss the upcoming launch of a drug called Doxy DR.
Doxy DR (doxycycline hyclate delayed-release) is a simple molecule—a delayed-release antibiotic often prescribed for severe acne. The businessmen from New Jersey-based Heritage Pharmaceuticals wanted to manufacture this profitable drug.
The catch: The market was entirely cornered by Heritage’s competitor, Mylan N.V., so its entry had to be carefully orchestrated.