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Cachet Pharmaceuticals: Helps Catching up with Good Health

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Indranil Chakravartty, Chief Operating Officer,   Jitendra K Jha, AVP Finance, Logistics & IT

Indranil Chakravartty, Chief Operating Officer

Jitendra K Jha, AVP Finance, Logistics & IT

Though technology, infrastructure, and other tangible assets contribute to an organization's success, there is one incontrovertible aspect that no organization can succeed without people. The workforce is an organization's most significant asset. Organizations all over the world are attempting to develop a work culture that benefits both employees and the company. They are working hard to establish a perfect work life balance, and are setting an excellent example for the rest of the world.

One such leading pharmaceutical company ideally positioned to rapidly soar to higher heights of success, led by visionary directors and backed by a workforce of 1500 talented and committed professionals is Cachet Pharmaceuticals. Its pursuit of excellence is reflected in the systems, processes, people, and work culture. Cachet Pharmaceuticals is an Alkem Group company that has been functioning in the Indian Pharmaceutical Market (IPM) for the past 25 years, with annual revenue of approximately Rs.430cr. The firm is present in PAN India and also in non-regulated International Markets. Cachet MAT March’22 growth is 27% which is higher than the IPM growth of 22%.

Cachet is recognized for being a customer-centric, professionally efficient, and technologically driven pharmaceutical company inclined to contribute and grow in the healthcare domain. The firm's core business is to generate revenue by scientifically promoting standardized quality, low-cost medicine in India and overseas, as well as initiating the set up of modern factories with good GMP standards, resulting in high-quality products and a better quality of life for all.

Cachet has existence in distinct therapeutic segments i.e., Anti-infectives, Gastroenterological, Pain management and Anti-inflammatory agents, Anti Osteoporotic, Phytoestrogens, Antioxidants, Cough and Cold Management, Calcium, and Iron Supplementation, Multivitamins and Multi minerals, Nutraceuticals. Cachet is operational in manufacturing and marketing specialty formulations and nutraceuticals to cater to the demands of both domestic and international markets. This expertise has helped Cachet increase its foothold in domestic as well as international markets.

Cachet is well positioned in its quest to become a significant force in the international market, backed by a team of proficient and dedicated professionals. The firm is pursuing opportunities in emerging markets and strengthening the value proposition of its medicines in ways that resonate with other players and patients. This would assure longterm viability by establishing 'Brand Recognition' and 'Brand Value.'

Employees at its Core
Cachet Pharmaceuticals believes that employees are its biggest assets and stand at the very heart of its success. Its culture has always placed a premium on its personnel. Through extensive benefits programs, the company provides welfare facilities to its employees and their family. Cachet believes that focusing on the long-term health of its employees is the first important step it needs to take among the various initiatives it offers. COVID-19 has raised the focus on health and well being to the highest priority. To help cut healthcare expenditures, the firm has held vaccination
drives and RT PCR tests in the office, as well as increased the sum insured amount of its Mediclaim Insurance coverage for its employees. This insurance plan provides health cover from Day one to their spouse and dependents.

Cachet offers numerous training and leadership development programs online as well as at the learning center on many diversified topics. The firm has extended its support to the families of the employees who have left Heavenly Abode. Cachet has lucrative incentive schemes; it has even offered the chance for the staff to go on an incentive trip abroad. Apart from the aforementioned wide array of facilities, the firm also provides various allowances, Courier, Internet & Stationery reimbursement, and Local Conveyance, to name a few. “We are proud to give back to our diligent employees so that we can all celebrate our success together. Cachet has established an environment where our employees are respected by their coworkers. They have faith in us that their opinions will be heard, and this has resulted in a meaningful connection between employees and us that goes beyond the standard paycheck and benefits package,” signifies Jitendra K Jha-AVP Finance.

Cachet is continuously doing its best by adapting its policies to keep up with the business needs, which has contributed to the creation of a cohesive work environment. Healthy employees, according to the company, are happier and more motivated. To create the finest possible working environment, the company places a greater emphasis on sanitary sanitation, including clean restrooms, First aid, fire extinguishers/ alarm, CCTV, pest control, employee engagement and other amenities. Even though these appear obvious, they are frequently overlooked in many organizations. Apart from on time salary, bonus, allowances, and more, what makes Cachet loved by the employees is the work culture. Providing employees with the right kind of amenities and facilities has allowed the firm to attract and retain top talents. It has increased the organization's diversity and inclusiveness.

Jitendra K Jha- AVP Finance, Logistics & IT

Road Ahead
Cachet is extremely optimistic and certain that, by 2023-24, it will be a Top 50 Company in Prescription and Value, having consistently raised its Pharma ranking in recent years. The firm has already made a name for itself in pain treatment, gastroenterology, and antibiotics, and its newly launched drugs have made a lot of buzz. Cachet is confident that anticipated results will be achieved with the appropriate intention and focused direction. Everyone in the Corporate Office, Field, Depot, and Factory is ready to take on the challenge of a highly competitive market and together lead Cachet to the top.

Indranil Chakravartty, Chief Operating Officer concludes “The idea of elevating the manual processes with the latest technology framework resulted in enhanced outputs, reduced manual work dependency, and minimized the turnaround time of deliveries. Cachet looks for value on an ongoing basis instead of a one-time cost reduction drive. This has helped the company to focus beyond price reductions to generating value for what we deliver”.

Indranil Chakravartty - Chief Operating Officer
The formation of a truly great commercial organization needs experience, entrepreneurship, innovation, and a can do belief. Working in two different Pharma Setups, Indian(Alkem, Glenmark, Wockhardt) and MNC(Pfizer) has helped me build my core competency in Marketing and Sales as well as other core functions. Managing different roles and two mega-mergers within the same organization has meant ensuring high performance with high levels of effectiveness as well as expertise in change management. The responsibility of building and handling mega brands, and launching brands have successfully provided me with experience in brand management and Key Opinion Leaders management. My experience in various organizations of different sizes and varied cultures has provided me with an in-depth understanding of the Pharma industry and of working in different cultural setups.

Jitendra K Jha- AVP Finance, Logistics & IT
I Joined Cachet in 2019 with Experience of 13+Years' Experience in Healthcare and Supply chain with Industry Leaders Like Reliance, Dr. Lal, and DHL. Business acumen and a strong financial mind have always been my passion and strength. Cachet has given me the opportunity and freedom to use all my experience and strength. Bringing Transparency and aligning all stakeholders to drive profitability was the key factor. This was achieved with the support of all my colleagues. Apart from profitability, Compliances, Controls and continuous improvement were non-negotiable. We worked together at various Levels like Increasing Revenue, Maximizing Gross Margin, Optimizing Cost, reducing working capital, fund utilization, and returns with Proper Cash Flow Planning. Overall, I feel proud to be part of the Cachet Success Journey.