A highly organized sector, the Indian pharmaceutical industry is estimated to be worth $4.5 billion, growing at about 8% to 9% every year.
As domestic pharma and life science companies aggressively scale up their R&D capabilities to meet the rising demand for clinical research from global majors, they are back in the job market to scout and woo talent with attractive salary packages.
Dishman Chemicals and Pharmaceuticals, the Ahmedabad-based leading player in the contract research and manufacturing services (Crams) space, is expecting growth of about 20% in the segment starting next fiscal.
Few outside the recently developed township of Baddi in Himachal Pradesh will know Arun Rawat or his drug manufacturing company Kanha Biogenetic Laboratories. But this first-generation entrepreneur, who ventured into the drug-making business just five years ago, produces medicines for such majors as Wockhardt, Ajanta Pharma and Ind-Swift, to name a few.
Big Pharma made this a big year for Indian drugmakers. As multinational companies sought ways to cut costs and grow revenues, they ramped up their outsourcing programs and partnerships–and that has helped push sales growth past 20 percent for India's leading drugmakers, such as Ranbaxy Laboratories, Cipla, Dr Reddy's Laboratories, and Aurobindo Pharma, according to the report.
Global multinational drug companies need to outsource manufacturing to low-cost destinations like India has turned out to be a boon for leading drug companies in India such as Ranbaxy, Cipla, Dr Reddy’s Laboratories and Aurobindo.
Piramal Healthcare, India's fourth-largest pharmaceutical company by revenue, has seen its contract research and manufacturing services (CRAMS) business fare badly in the past year or so. Going by the company's guidance, revenues from the segment, which accounted for about a quarter of its revenues in the first half of this fiscal, could decline through the full fiscal year.
Momentum is building for the early December staging in Mumbai of the third CPhI India and second P-MEC India pharma ingredients, services and technologies event. A combined total of over 600 exhibitors from over 80 countries are expected at the Bombay Exhibition Centre for the 2009 events, being held on 1 – 3 December.
India has become a major hub for pharmaceutical companies of the world. An India-strategy is a must for all western companies and is often mandated by their managements.
The domestic pharmaceutical market is expected to triple to $20 billion by 2015 from the current $7 billion and move into the world’s top 10 markets.
India emerging as a big global destination for contract manufacturing, unlike R&D outsourcing
Low costs, high technical capabilities and a skilled work force are making India an attractive destination for research and contract manufacturing of drugs
"The Ideas Exchange” successfully launched the inaugural edition of the Pharmaceutical Outsourcing Congress India series last week.
Pharmaceutical industry has welcomed the suggestion of economic survey tabled today in the Parliament, which mentions decontrolling the prices of drugs in the country.
Piramal Healthcare Ltd is expanding its contract manufacturing services to early phase business, offering supplies of clinical trial quantities both in active pharmaceutical ingredient (API) and formulation segments.
Once despised as a ‘dirty business’, generics are now seen as salvation, and Indian cos as experts.
Tata Consultancy Services (TCS), the country’s largest IT services firm, is exploring more avenues in the life sciences and healthcare space as demand from clients gains momentum.
India is fast turning into a global hub of cost-effective clinical research outsourcing (CRO), thanks to the adaptation of international regulatory standards. The revenue from this sector is expected to touch $1 billion by 2010. From $70 million pumped in by just a few pharmaceutical companies to India in 2002, the revenue from clinical research outsourcing has leaped to $800 million now, according to industry insiders
The Department of Pharmaceuticals is exploring the possibility of bringing in an e-commerce project to strengthen the small and medium pharmaceutical enterprises.