Maha Research Labs: The Turkish Opportunity
Maha Research Labs Private Limited was a growing pharmaceutical company. It ended 2016 with sales worth 508.4 million at 31.2 per cent growth over the previous year. The company's ambitious goal was to achieve 38 per cent growth and a net revenue of 700 million in 2017. In May 2017, on receiving a call from a friend in Turkey suggesting he explore the Turkish pharmaceutical market, the managing director of the company was considering doing so. However, he had some doubts, and wondered what the best way to enter the market in Turkey would be. Was his product range suitable for the Turkish market? What were the possible risks? Sandeep Puri is affiliated with Institute of Management Technology, Ghaziabad.