This is significant, because according to the Pharmaceutical Export Council of India Pharmexil , 55 percent of Indian exports are to highly regulated markets. These strategies help multinational companies reduce costs, increase development capacity, and focus on their core profit makings activities, such as drug discoveries and marketing, rather than on manufacturing.
India, with a large patient population and genetic pool, is fast emerging as a preferred destination for such multinationals seeking efficiencies of cost and time.
Since the amendment to Patents Act in , many Indian pharmaceutical companies have gradually moved away from generic production to the development of new drugs, exports to regulated markets and cooperative agreements with global pharma companies. In fact, India holds 12 percent of all global manufacturing sites catering to the US market.
As per industry analysts, the cost of manufacturing in India is approximately 33 percent lower than that of the US. Besides, India is the only country in the world that has the highest number of US FDA-approved plants for generic drug manufacturing more than including active pharmaceutical ingredients outside the US.
Some of the leading Indian pharma companies derive about 50 per cent of their turnover from exporting generic medicines to developed markets like the US and Europe. India has also made changes to its regulatory regime, enacting the New Drug and Clinical Trial Rules, last year under the aegis of the Drugs and Cosmetics Act, , thereby bringing an end to a long-drawn-out process to codify the rules applicable to clinical trials. This article was originally published on January 25, It was last updated April 13, The firm assists foreign investors throughout Asia from offices across the world, including in Delhi and Mumbai.
Readers may write to india dezshira. An Introduction to Doing Business in India will provide readers with an overview of the fundamentals of i Foreign companies investing in India are advised to do a due diligence check, especially if entering into a jo Your email address will not be published.
Save my name, email, and website in this browser for the next time I comment. Notify me of follow-up comments by email. India to buy 10 million doses of Zydus Cadila's Covid vaccine at Rs. Introduction India is the largest provider of generic drugs globally. Market Size According to the Indian Economic Survey , the domestic market is expected to grow 3x in the next decade.
In August , Alkem Laboratories introduced Famotidine and Ibuprofen tablets to treat osteoarthritis and rheumatoid arthritis symptoms in the US. In June , Lupin Ltd.
It incorporated Lupin Digital Health Ltd. In May , Indian Immunologicals Ltd. The two PSUs plan to start production of vaccines by September In April , National Pharmaceutical Pricing Authority NPPA fixed the price of 81 medicines including off-patent anti-diabetic drugs allowing due benefits of patent expiry to the patients. The acquisition is expected to be completed by the end of March In February , the Russian Ministry of Health allowed Glenmark Pharmaceuticals to market its novel fixed-dose combination nasal spray in Russia.
In January , the Central government announced to set up three bulk drug parks at a cost of Rs. These funds will be utilised to continue Thyrocare's acquisition process. After the transaction is completed, the online pharmacy plans to float the company on the Indian Stock Exchange.
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