Scaling the Industry: CPHI Scale-Up Market interview with YSK Laboratories

For the first time, CPHI Milan hosted the CPHI Start-Up Market, expanding support for emerging and small-sized enterprises in their transition to the next level of growth. In this interview, we spoke with Yuvansh Khokhani, Managing Director of YSK Laboratories Pvt Ltd, on what this opportunity means for YSK Laboratories and other scale-ups.

Please could you give an overview of yourself and your company? 

YSK Laboratories Pvt Ltd is a Research and Development Company with a vision to develop technologies for better finished formulations. Recognised as an innovative start-up company by the Government of India in 2023, YSK produces ‘Smart APIs’ in semi-formulated forms that can be directly compressed into solid finished dosage forms in only one step of compression. These Directly Compressible Granules (DC Granules) offer multiple advantages to the formulators/FDF companies who form the bulk of our valued base. With a state-of-the-art DC Granules facility on the outskirts of Mumbai, as well as an R&D facility with a view to develop and manufacture a wide range of DC granules of various APIs, we offer customized solutions for granulation to our customers. 

How has being part of the CPHI Scale-Up Market supported your business ventures? 

Being part of the CPHI Scale-Up Market has significantly supported our business ventures by offering a dynamic platform to showcase YSK Laboratories' innovative solutions to a global audience. It has allowed us to connect with industry leaders, potential investors, and strategic partners, accelerating our exposure and business development opportunities. The access to industry-specific resources and networking events has been instrumental in shaping our growth strategy and expanding our market reach. Furthermore, the visibility gained through this platform has helped in validating our expertise and building credibility in the highly competitive pharmaceutical sector. 

What has the transition between start-up to scale-up been like? 

The transition from start-up to scale-up has been both exciting and challenging. As a start-up, our focus was primarily on research, development, and proving the viability of our concepts. However, moving into the scale-up phase has required a strategic shift toward scaling operations, optimising production processes, and expanding our market presence while maintaining the quality and innovation that set us apart. 

This phase has involved building more robust infrastructure, strengthening our team with experienced professionals, and refining our business model to accommodate larger-scale manufacturing and distribution. We've had to adapt quickly to new regulatory requirements and market demands, all while fostering the agility and creativity that fueled our early success. Balancing growth with sustainability has been key, as has staying aligned with our long-term vision while meeting the needs of a rapidly expanding client base. 

How can the wider pharmaceutical industry better support scale-up companies to foster further innovation and growth? 

The wider pharmaceutical industry can better support scale-up companies in several impactful ways to foster innovation and growth: 

1. Collaboration and Partnership Opportunities: Large pharmaceutical companies could establish programs that facilitate collaborations with scale-ups, including joint research initiatives, co-development projects, or mentorship programs. These collaborations can give scale-ups access to resources, industry knowledge, and networks. 

2. Investment and Funding: Providing more funding options or creating venture capital arms dedicated to investing in promising scale-up companies can significantly enhance growth potential. Grants, seed funding, or strategic investment partnerships help bridge the financial gap many scale-ups face. 

3. Regulatory Guidance: Navigating complex regulatory landscapes can be daunting for emerging companies. Regulatory agencies and established industry players could offer more tailored guidance, workshops, or advisory services to help scale-ups efficiently bring their innovations to market. 

4. Access to Manufacturing and Testing Facilities: Scale-ups often struggle with the high costs of manufacturing and testing. Sharing or subsidising access to state-of-the-art facilities or creating hubs where smaller companies can collaborate and share resources would be highly beneficial. 

5. Market Access Support: Helping scale-ups establish themselves in international markets through shared networks, market entry strategies, or access to distribution channels can accelerate their global reach. Industry groups could also advocate for policies that facilitate the expansion of innovative solutions. 

6. Knowledge Sharing and Networking Events: Organising industry events where scale-ups can connect with seasoned professionals, thought leaders, and potential partners provides valuable learning and networking opportunities. These platforms can drive future collaborations and knowledge exchange. 

By fostering a more supportive ecosystem, the pharmaceutical industry can harness the creativity and agility of scale-ups while pushing forward the boundaries of scientific and technological innovation. 

What can scale-ups do to take full advantage of opportunities like the CPHI Scale-Up Market? 

To fully capitalise on opportunities like the CPHI Scale-Up Market, scale-ups can adopt the following strategies: 

1. Prepare an Impactful Pitch: Having a compelling and concise pitch is crucial. Clearly communicate your unique value proposition, the problem your solution addresses, and your long-term vision. Tailoring your message to different audiences – investors, potential partners, or industry experts – can maximise engagement. 

2. Engage Actively in Networking: Proactively seek out and engage with key industry figures, potential clients, and collaborators. Attending panels, joining discussions, and visiting other exhibitors' booths can foster connections that lead to future partnerships. 

3. Showcase Innovation Visually: Utilise engaging displays or demonstrations that effectively highlight the benefits and applications of your products or technology. Leveraging visuals, prototypes, or interactive elements can make your booth stand out and attract more interest. 

4. Leverage Media and Press Opportunities: Make the most of any press or media presence at the event. Prepare press releases or media kits and be ready to discuss your story and advancements with journalists, bloggers, or industry analysts who may cover the event. 

5. Participate in Panel Discussions and Workshops: If given the opportunity, join panels or present at workshops to share insights and expertise. This can enhance your visibility and establish your company as a thought leader in your field. 

6. Follow Up Strategically: After the event, follow up promptly with the contacts you’ve made. Personalised messages that reference your conversation or the individual’s specific interests will make your outreach more effective and likely to yield ongoing engagement. 

7. Utilise Insights Gained: Use feedback and insights gathered from conversations at the event to refine your strategies, improve your products, or explore new markets. Events like the CPHI Scale-Up Market are not only for networking but also for gaining valuable market intelligence. 

By being well-prepared, engaged, and strategic, scale-ups can leverage these opportunities to accelerate growth, attract investment, and establish lasting partnerships. 

What opportunities has the CPHI Scale-Up Market enabled your company to experience? 

The CPHI Scale-Up Market has opened up numerous opportunities for YSK Laboratories. First and foremost, it has significantly increased our visibility within the global pharmaceutical community, allowing us to present our innovative solutions to a diverse audience of industry leaders, investors, and potential partners. 

The event has provided a unique platform for networking with high-profile stakeholders and connecting with companies and experts who share a common interest in advancing pharmaceutical innovation. These connections have led to strategic conversations about potential partnerships and collaborative projects that can accelerate our research and development efforts. 

Additionally, being part of the CPHI Scale-Up Market has granted us access to market intelligence and industry trends, which have been invaluable in refining our strategies and staying competitive. The exposure has also helped us gain credibility, opening the door to new business opportunities and discussions about scaling our production capabilities. 

Overall, the experience has been transformative, equipping us with the tools, resources, and relationships needed to drive growth and expand our market impact. 

What does the future hold for YSK Laboratories and for yourself? 

The future of YSK Laboratories is focused on continued innovation, strategic growth, and making a meaningful impact in the pharmaceutical industry. We aim to expand our product portfolio, focusing on developing advanced formulations that address unmet medical needs and improve patient outcomes. Our strategy includes scaling up our manufacturing capabilities and expanding into new markets to increase global reach while maintaining our commitment to quality and scientific excellence. 

For myself, the journey continues to be one of growth and leadership. I am dedicated to steering YSK Laboratories through this exciting phase of expansion while fostering a culture of innovation and collaboration. Personally, I also hope to engage more actively in thought leadership and contribute to shaping the future of pharmaceutical science through industry events, research publications, and collaborations. 

As both YSK Laboratories and I evolve, our focus remains on delivering impactful solutions and driving positive change within the industry, always with an eye toward advancing healthcare on a global scale.