US drug company Bristol-Myers Squibb (BMS) may
join the growing list of drug majors that consider India among their key
markets for the global launch of new medicines.
The launch may not be simultaneous with product introductions in the US or European markets. However, the delay, if any, would only be to aimed at securing the Indian regulatory nod. BMS was awaiting regulatory approvals for diabetes, heart disease and critical care products in India. The company said that it would launch products that are relevant to India. The launch of pipeline opportunities that are close to maturity would also be considered, once the product secures marketing approval. BMS, which saw global sales worth $19.5 billion, last year, is among the few multinational pharmaceutical majors that drive its businesses purely through innovative products. Most foreign pharmaceutical firms either develop or acquire the branded generic (competition intensive, off-patent) product portfolio in India to increase their presence in one of the world’s fastest-growing drug markets.
The company expects to more than double its revenues, which currently stand at around Rs 200 crore, from the country in the next five years.
The company is also active in drug discovery research programmes in the country through BMS Biocon Research and Development Centre, a joint venture with Bangalore-based Biocon.
The launch may not be simultaneous with product introductions in the US or European markets. However, the delay, if any, would only be to aimed at securing the Indian regulatory nod. BMS was awaiting regulatory approvals for diabetes, heart disease and critical care products in India. The company said that it would launch products that are relevant to India. The launch of pipeline opportunities that are close to maturity would also be considered, once the product secures marketing approval. BMS, which saw global sales worth $19.5 billion, last year, is among the few multinational pharmaceutical majors that drive its businesses purely through innovative products. Most foreign pharmaceutical firms either develop or acquire the branded generic (competition intensive, off-patent) product portfolio in India to increase their presence in one of the world’s fastest-growing drug markets.
The company expects to more than double its revenues, which currently stand at around Rs 200 crore, from the country in the next five years.
The company is also active in drug discovery research programmes in the country through BMS Biocon Research and Development Centre, a joint venture with Bangalore-based Biocon.
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