Can you provide an update on Meteoric's performance in 2023? 

2023 was a fantastic year for Meteoric across all three of our locations in the USA, India, and Vietnam. With a strong emphasis on plant-based enzymes and therapeutic probiotics, we received an overwhelmingly positive response from various stakeholders in the USA. Therefore, 2023 was primarily dedicated to solidifying our presence in the US market. 

Can you discuss the significance of the US market for Meteoric Biopharmaceuticals moving forward? 

The US market presents a unique opportunity due to its less fragmented nature compared to other markets. When we showcase our promising products, like enzymes and probiotics, and demonstrate their clinical efficacy, we capture a significant market share. Additionally, we are providing pivotal quality management system programs to stakeholders and collaborating with various US industries to optimize production cycles and enhance profitability. Our focus is not solely on profit margins but rather on increasing product volume with high potency. We have been fortunate to attract many users in the USA, allowing us to customize and offer contract manufacturing programs for our ingredients. Moreover, we are integrating robust quality management systems into our APIs. We are eager to continue showcasing our expertise at events like CPHI in North America, enhancing our presence in the market.

Our journey in the US started with a single distribution center and office in Morris Plains, New Jersey. We have been focused on studying supply chain dynamics to better serve our customers. This year, we are expanding our facility by adding an R&D center, which will facilitate the development of new molecules. For instance, we have isolated novel probiotics and are exploring their therapeutic potential. This R&D center will support both small and large-scale programs, enabling us to introduce more APIs and therapeutic products to the market. Additionally, we have received numerous customization projects, particularly in segments like enzymes and probiotics, which are experiencing heightened demand post-pandemic. 

Are you observing more demand for enzymes, probiotics, or other areas such as animal healthcare? 

As one of the largest exporters from India in this domain, we have witnessed growing interest in utilizing plant-derived enzymes across various applications. Notably, there has been considerable traction in animal healthcare, with companies in the USA showing keen interest in utilizing our biomolecules for pet care and large animal treatment. We are actively engaged in collaborative projects involving a blend of botanicals and probiotics to address diverse indications within pet care. This trend holds promising prospects, and we are optimistic about expanding our product line in this segment.

Could you elaborate on what sets your innovation culture apart?

There has been a noticeable shift away from animal-originated molecules. Concerns regarding antibiotic transfer and viral contamination associated with animal-derived products have prompted a search for alternatives. In response to this demand, we introduced a vegan pancreatin product in the US, which has been exceptionally well-received. This innovation not only replaces animal-based pancreatin but also addresses concerns related to animal-originated molecules. The positive reception from industry stakeholders underscores the significance of offering plant-based alternatives in our product portfolio.

One recent innovation I am proud to mention is our venture into vegan medicines, which garnered significant recognition, including an award in India for being one of the most innovative product lines. Additionally, we are focusing on developing a range of probiotics targeting specific therapeutic areas such as diabetes and carb blocking. These specialized therapeutic probiotics are distinct from typical food supplements as they aim to treat specific diseases. We have already launched some of these probiotics and are in the process of commercial production. Our plan is to introduce these therapeutic probiotics to the US market, expanding our reach into various health indications and addressing specific diseases.

What do you anticipate as the upcoming trends in the pharmaceutical space?

I see a growing trend towards exploring the biological side of pharmaceuticals. Additionally, with the rise of antimicrobial resistance, there has been a shift away from excessive and unnecessary use of antibiotics, leading to the development of new classes of antibiotics and synthetic products. 

Can you outline your key priorities for 2024?

This year, our focus is on expanding our product line in the biological sector, particularly with the launch of several newly isolated probiotics. These products have successfully undergone clinical and preclinical trials and target specific health indications. We are aiming for maximum product launches in both the Indian and US markets. Additionally, we are dedicated to developing biosimilar alternatives for certain synthetic and hazardous APIs, aiming to innovate and replace older, less beneficial molecules in the industry.