--By Sujan Tiwari
Pradeep Jung Pandey, MD and Chairman of Lomus Pharmaceuticals Pvt Ltd and Vice President of Federation of Nepalese Chambers of Commerce and Industry is a familiar name in Nepali business sector. But Pandey didn’t always have thoughts of becoming a businessperson and wanted to join the army as a young man. A simple twist of fate turned him into business, and today, Pandey has many companies and industries under him and is one of the most successful Nepali business personalities.
Lomus Pharmaceuticals has recently become the first company to export medicines from Nepal, and has exported medicines worth around 25,000 USD to Nigeria. The company will soon start exporting to Liberia. “Even at a time when the industrial environment is not so good, we have been able to export medicines for the first time in Nepal. If the conditions become better, we can export even more,” says Pandey. According to him, there is huge possibility of drug export from Nepal, and Lomus is the proof of it. Lomus contributes to 3.5 per cent of total drug requirement of Nepal. If it runs with full capacity, it can contribute up to ten percent, says Pandey.
Lomus is a company that started it journey three decades ago, and is one of the topmost pharmaceutical companies of Nepal. The company was ranked number one in terms of value and unit in the year 2000 by IMS Health Switzerland. The company manufactures 270 different medicines, including psychiatric, diabetic, fertility drugs, hormonal and many others. The company’s manufacturing plant is in Gothatar, a 72,000 sq feet state of the art facility.
Business Philosophy
Pandey says that he doesn’t want to be involved in many businesses at once. “I start new venture only after the earlier one is successful and sustained,” says he. After Lomus started to do well, Pandey established Cosmos Cement Industries in Janakpur 12 years ago. “The condition was not favourable back then, but still I made it survive. Two years ago, I set up Eastern Cosmos Cement Industry in Biratnagar,” informed Pandey. Both the industries manufacture 400 MT of cement per day now. Also, he started manufacturing clinkers from Janakpur that is enough for both the companies.
Pandey says he faced a lot of problems in manufacturing sector, like power outage, labour problems, and government policies among others. “The government wasn’t also very supportive. So I looked for some other sectors that are unaffected by labour problems,” says He. That’s when he started Shikhar Insurance Company Ltd, for some financial security. Pandey is also the Chairman of Citizens Bank International Ltd and Mountain Energy Pvt Ltd, a hydropower company. The company has produced five megawatts of energy and it is already connected to the national grid. His another venture, Lomus Herbineria P Ltd manufactures herbal medicines. “Nepal has immense potential in manufacturing herbal medicines, that’s why I started the company,” explains Pandey. The company manufactures herbal medicines for liver, cough syrups, blood purifying medicines, shilajit tablets among others.
Pandey says he works only in the sectors where he has expertise, and believes all should do this for success. “A country can prosper and get renowned through only one brand or one product, like many other countries in the world,” says Pandey. He wants his medicines to do the same for Nepal. “Nepal can’t compete with the world in manufacturing automobiles or other similar products, but we can do that through Herbal medicine. I will focus on that in the future,” says he. According to him, herbal medicines can do many things that allopathic medicines cannot, and has comparative advantage. A company should manufacture a unique product, make the company sustain and then should look after branding as it is the key to success of the manufactured product, says Pandey.
Early Life Born to Purna Jung Pandey and Dev Kumari Pandey in Chhetrapati of Kathmandu in 1950, Pandey was basically brought up by his grandfather in a joint family. His father passed away when Pandey was only five years old, so he says he doesn’t have much memories of him. “My childhood was very simple. There was no TV or entertainment medium of any such sort. I spent my childhood playing with my friends in the streets,” recalls Pandey. According to Pandey, he was always an above average student, and used to study quite hard. “I have never failed in any examinations since I was a child,” says Pandey.
He did his schooling from JP School and completed his SLC from there. He did his graduation from Public Commerce Campus. As his grandfather had fought in World War II, Pandey initially had thoughts of joining the army. His family inclination was also towards the army owing to the respect and social status. But unfortunately for him, his eyesight wasn’t fit for being in the army, and he didn’t apply. Today, Pandey thinks of it has a fortunate coincidence. He believes he has served his country more as an industrialist than he could have done as an army man. “Helping a country economically is the best you can do for your country,” says Pandey.
The Start
After he completed his M Com from TU in the year 1972, he became interested in financial matters and thought of doing business. Instead of trading business, he chose manufacturing. “As medicines are one of the most critical things for Nepal, I thought of manufacturing it and opened Lomus Pharmaceuticals,” recalls Pandey. Royal Drugs was the only company manufacturing drugs back then. That’s when he thought that private companies can also do the same. “If you start a general manufacturing company, you will have many competitors. But pharmaceutical is a technical sector, so there is relatively less competition. This was another reason for me to choose the sector,” explains he.
Personal Side
Married to Urmila Pandey in 1975, Pandey is father of three sons, Prabal, Pratap and Prajwal. His elder son Prabal is also the MD of Easter Cosmos Cement Industry and also looks after manufacturing at Lomus. Pandey says he is quite religious and spiritual, and believes that we should preserve our tradition and culture. “We should follow our own culture as it is our true identity. We should be honest towards our profession, nation and tradition as well,” says Pandey. According to him, a successful entrepreneur should also pay attention towards religion and culture.
He starts his day by going for a morning walk at 6, and does some exercise. He is always at his office earlier than his staffs. He says that an entrepreneur should work more than his staffs to sustain his business. In his free time, he is involved in writing articles related to economics. He has also written a few songs, and wants to guide the society towards a positive direction through his work. Pandey is quite an easy going person, and says he receives phone calls from everyone, even from the unknown numbers. “It is very easy to get in touch with me,” says he.
Pandey loves to travel to new places and learn new culture and lifestyle. He says travelling recharges you and fills you with new energy to go on. He is also interested in economic systems of various countries, and has extensively travelled Nepal and India. He has also been to US and many countries of Europe. Pandey only takes vegetarian food three days a week and fasts two days a week. He reserves his Saturdays for his family and relatives, and doesn’t get involved in business activities unless it’s very urgent.
Pandey says he isn’t very conscious about brands, and lives a simple life. He owns a Toyota Rav 4 and Nissan Datsun. Pandey carries an iPhone 5 and Samsung S4. He uses gadgets for the facilities they provide, and says one should be familiar with technology for making his time more productive.
Pandey says there are more opportunities than challenges in Nepal. He believes that one should not be over ambitious and know his limits to be successful. “Satisfaction is a major thing for running a successful business. One should be an expert in his field and success will surely follow,” says Pandey. Pandey firmly believes that dedication, honesty, hard work and a positive mindset are essential for success. “Honesty always pays in the long run,” says he.
Pandey says he believes in fair competition and coexistence in business. In the future, he wants to diversify his businesses and manufacture better quality products. He also has plans of making his medicine brands renowned in Nepal and even in the international sector. “Instead of diverting your focus at many things, one should concentrate on improving the quality of what he already owns,” says Pandey.
