With 14% of annual growth the Pharmaceutical Companies in India is worth USD 3.1 billion. It is the largest generic drugs producer in the world and has substantial contribution towards meteoritic growth of India Inc.
The pool of ' Pharmaceutical Company' is dominated by generic manufacturers. Although, some first line companies are slowly shedding 'Generic' tag and dawning 'Innovator' tag to get a global footage, but still generic drugs accounts for 80% of revenue. ' Pharmaceutical Companies in India ' are getting technologically strong and self reliant. ' Pharmaceutical Companies in India ' are armed with -
- Low costs of production & R&D costs (around 70% less than their Western counterparts).
- Highly innovative scientific manpower.
- Hosts of national and private laboratories.
- A strong IPR regime following WTO and WIPO norms.
Pharmaceutical Market in India is actively partnering with Government, NGOs and other Healthcare providers to improve the health and quality of life by innovating and developing safe, cost-effective and quality medicines. It also aims to increase the access of medicines to people in rural areas and those living at or below the poverty line. Companies like Ranbaxy, Dr. Reddy's Lab, Lupin Lab, Torrent Pharmaceuticals, Glenmark etc are performing excellently at the global level also. Ranbaxy has recently won a fierce battle against infringement (Norway) involving key Norwegian patents on Atorvastatin (a cholesterol-lowering drug marketed by Pfizer). MNC ' Pharmaceutical Companies in India ' are aggressively forging collaboration, acquisitions and even cross- licensing with foreign firms for greater reach, both in domestic and world market. '
Pharmaceutical Company inspite of registering fabulous growth is still laced with some negative market imperatives. ' Pharmaceutical Companies Operating in India ' is a pool representing about 250 large Pharmaceuticals manufacturers and suppliers and about 8000 Small Scale Pharmaceutical & Drug Units which forms the core (including 5 Central Public Sector Units).
The issues are:
'Patentable inventions' with respect to Sec 3 (d)of the Patents acts and Rules.
Compulsory Licensing.
- Data Exclusivity.
- Spurious drugs.
- Availability.
- Price control of essential drugs.
- Sky high price of drugs manufactured by foreign companies.
To be one of the largest and most advanced in the world ' Pharmaceutical Market in India ' must address the issues of exporters, manufacturers and suppliers. ' Pharmaceutical Companies in India ' offers tremendous growth opportunities in years to come especially in the areas of Biological Sciences Research (particularly genomics and proteomics), Clinical Research & Development and Innovative Process Chemistry.
