ENTOD Pharma launches super speciality surgical division HyTek
New Delhi: ENTOD Pharmaceuticals has recently announced that the company has launched their super-specialty ophthalmic surgical division, 'HyTek' which caters to hi-tech solutions for ophthalmic surgical needs. The launch came up in July, the same month the company celebrated its 44 th Foundation Day.
Eye diseases in India are increasing. Every year, close to 5 million cataract surgeries are performed in India. Based on the increasing burden of eye diseases and growth in technological advancements, the ophthalmic surgical market is expected to register a CAGR of 7.3% from 2020-2025. ENTOD's HyTek division will specially focus on the products which are required during ophthalmic surgical procedures like cataract, refractive surgeries etc.
Speaking about their latest development, Executive Director of ENTOD Pharmaceuticals, Mr. Nikkhil K. Masurkar said "ENTOD is a specialty pharmaceutical company however, our main focus has always been ophthalmology. We have huge expectations with the launch of this new division. It will give us the opportunity to strengthen ENTOD's collaboration with the large ophthalmic medical fraternity of India and around the world. Also, it will enable us to serve patients with the best quality surgical products. We have always been competing with the multinationals and over the last decade, we have seen exponential growth in our business. This has been purely because of our business model, which is patient- centric, based on cost effectiveness without differentiation between the products for the local and the export markets."
"With more than 150 finished ophthalmic formulations in circulations around the world and highly qualified, experienced global field force of R&D, production and quality assurance teams, we're always working on developing newer and safer speciality preservatives and excipients for the ophthalmic pharmaceutical sector. Although, ENTOD has ophthalmic, ENT, and paediatric segments, sixty percent of our sales comes from ophthalmic.The launch of our new division is expected to contribute an additional 5% growth in revenue initially and we're expecting more with expansion" added Masurkar.
The company informed that the HyTek division has been launched in Mumbai and subsequent extension plans are in progress for other metro and sub-metro cities.
"Through products manufactured at their state of the art WHO GMP and USFDA approved manufacturing plants, ENTOD aims to provide innovative ophthalmic medicines in countries where there is an acute shortage of such formulations. For their business agenda is to penetrate into growing economies with their range of products and make a positive impact on healthcare," the company further stated.
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