Having worked in the pharmaceutical industry for more than 27 years with a few of the best companies including Ranbaxy Laboratories and Intas Pharmaceuticals, Praveen Sikri (57) forayed into entrepreneurship with an idea to provide critical-care patients with access to medicines. The founder of Noida-based Ikris Pharma Network speaks to us about his journey as an entrepreneur and what he does to de-stress.
Tell us about your entrepreneurial journey.
I started Ikris Pharma Network in 2012 after identifying an area wherein Indian patients were having access problems when it comes to medication. Doctors or patients would only import medicines for critical conditions or diseases. For diseases that are treatable in India, doctors would not import any medicines. This is where we identified a gap. Later, we also started exporting pharmaceutical products. We basically deal with medicines for rare diseases.
How difficult was the transition into entrepreneurship?
The transition was very difficult, especially in the first two years. When you are working in a company, you usually work on a higher package, are never travelling by bus or train and instead travel by air and stay in good hotels. When you start your business, all of a sudden you have none of these luxuries. The scenario changes totally; with your own business, you never start from zero, you start from probably below zero. (laughs).
How do you unwind when you’re not working?
I make sure to go on a holiday with my family once every year. I also run on a regular basis (about three to four days a week) and participate in marathons—I may have completed at least about 20 half-marathons and four full-marathons. The marathon in Mumbai has not happened in the last two years, but as a group—I am part of a running group called Walker 34—we would participate in the 42kms Mumbai marathon. Running helps me de-stress. With Walker 34, we go on treks every year. I probably have done about 30 treks. In fact, even as a company, we have taken our employees on treks—we went to Triund in Dharamshala, Himachal Pradesh.
Two lessons you would share from your journey and experience as an entrepreneur…
One would be to think through. There is always a blank place in the market where there is an opportunity available. Firstly, it is important to identify that opportunity. And then, one needs to work towards that opportunity.