Current facts of Indian Pharma

According to the IMS Health Information and Consulting Services data, Abbott's market share for the year ended May 2011 stood at 6.8%. The company's sales grew 15.1%. Its two closest competitors-Cipla and Ranbaxy Laboratories grew 12.8% and 13.7% respectively, below industry's growth rate of 15%. Cipla is the second largest player in the Rs 58,000 crore drug retail market with 5.1% market share followed by Ranbaxy Laboratories at 4.6%.

Abbott has emerged as the country's largest drugmaker by sales, after it acquired Piramal Healthcare's domestic formulation business in May last year. Among the top 10 companies, Delhi-based Mankind Pharma clocked the highest growth at 27.2%.

Among drug brands, British company GlaxoSmithKline's antibiotic Augmentin retained its position as the country's best selling medicine, with annual sales of Rs 244 crore, followed by Danish company Novo Nordisk's insulin brand Human Mixtard and Pfizer's cough syrup Corex with annual sales of Rs 219 crore and Rs 216 crore. 

Indian Pharma Industry Current Scenario:

Indian Pharmaceutical Industry has made phenomenal progress over the years and made its impact in the global market. Indian Pharmaceutical industry has been recognized as reliable source for drugs and drug intermediates, pharmaceutical formulations. Tremendous opportunities are available for Indian Pharma industry in post 2005 era to manufacture and export many products getting off-patented. Its immense strength in manufacturing quality medicines at affordable prices made the Indian Pharma industry to compete both in regulated and non-regulated markets. This industry is playing a vital role in the Indian economy with Rs.14500 crores export turnover in the year 2003-04 with a growth rate of 12%.

 

Apart from its strengths in manufacturing and exporting allopathic medicines, India is known for its own systems of medicines with about 7000 units manufacturing various Indian system of medicines viz., Ayurveda, Unani, Siddha, Homeopathy etc. Though strong in cultivation/manufacture of Indian system of medicines, India’s share in the global herbal market, estimated at US$ 63 billion, is less than 0.2%, which shows that there is a tremendous scope for export market.

 

Fast growing Biotech industry estimated at about US$ 2 billion market, is a another part of Indian Pharma industry in India, which has great potential in the international market and which needs focused attention to improve its performance in the international market.

•  US$ 5 billion industry
• Produces 70% APIs, almost the entire requirement of formulations within the country
• Ranks 4th in the world, accounting 8% of world production by volume and 2% by value
• Very strong in Indian medicine systems of Ayurvedic, Homoepathy, Unani, Siddha and Herbals medicines
• Fast growing Biotech industry with US$ 2 billion market
• Low cost of production
• Low R&D costs
• Abundant scientific and technical manpower
• Strong intellectual capital
• Excellent world-calls national laboratories, specialized in development processes and cost effective technologies
• An efficient and cost effective source for procuring generic drugs, especially the drugs going off patent in the next few years
• An excellent center for clinical trials
• USFDA/WHO complying manufacturing facilities
• 15% of Indian Pharmaceutical scientists are in USA, hence good network