12 Most Unique Facts Related to Indian Pharmaceutical Industry
2. MNC’s will make an aggressive bid for the Indian market as India moves towards TRIPS and international companies register their new drugs for patenting after 10 years.
3. Smaller companies which has so far benefited from the protective regime, may be forced to become contracting units, or close shop.
4. With needs from developing export to world generics market that will have a huge demand for Indian generic manufacturers.
5. Also in the next ten years 60 major pharmaceutical product contributing $40 billion of world market becomes off patent and creates a huge opportunity for Indian generic product manufacturers.
6. Within five years the top ten pharma companies will control over 60 percent of world pharma market as increasing R&D costs leads to more consolidation, merger and acquisitions amongst international companies.
7. International companies set up their own R&D in India especially for occupational diseases producing huge employment and in technological base to improve competitiveness.
8. Innovations in R&D process such as genomic and combinatorial chemistry will shape up pharma industry in new angle.
9. In post GATT era co marketing alliances will become a major life source for Indian companies to survive.
10. India is land for traditional medicinal systems like ayurveda with a sales volume of Rs 1320 crore so there are plenty of chances in herbal market especially in European and Japanese market.
11. Contract research will find a new horizon in Indian pharmaceutical market, as a results increase in generic market and mergers and acquisitions amongst multinational companies is expected.
12. “Biotechnology is the branch that deals with four classes of bio-molecules namely nucleic acid, proteins, carbohydrates, and a lipid” is the emerging market showing high positive growth.