We would like to express our heartfelt gratitude and thankfulness towards our Industry Analytics professors, Dr. R.Venkatamuni Reddy and Dr. Gervasio S.F.L Mendes for giving us an opportunity to work on this project, which has helped us gain an in depth understanding of the Indian Pharmaceutical Industry.
The timely advice given by Prof. Reddy and Prof. Mendes went a long way in ensuring that we do not lose focus while working on the project. The constant guidance and meaningful suggestions provided by them also helped in making this project a relevant and a rich source of learning for the students of Industry Analytics. We hope that this project would enable the readers understand the working of Indian Pharmaceutical Industry in detail.
The Indian pharmaceutical industry has come a long way from waiting for imports of bulk drugs from global players for re-processing to becoming an industry which is driving the product development and is breaking new grounds in medical research worldwide.
The Indian pharmaceutical industry has a unique amalgamation of two major critical factors that make it so attractive and thereby add impetus to its growth. These are:
* The process patent regime
* Price controls
The implementation of Good Manufacturing Practices has further supplemented the growth of this industry which is now producing bulk drugs for all the major therapy segments, which are now most in demand. In addition to this, the competencies that India has achieved in process re-engineering and organic synthesis have helped derive the most cost-effective solutions which are also compliant with the quality standards.
The purpose of this report is to provide an extensive outlook on the pharmaceutical industry. The broad objectives of this report are:
* To study the growth and trend of Indian Pharmaceutical Industry and its contribution to Indian economy.
* To study the bottlenecks in patenting and... [continues]
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(2010, 07). Indian Pharma. StudyMode.com. Retrieved 07, 2010, from http://www.studymode.com/essays/Indian-Pharma-358298.html
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"Indian Pharma." StudyMode.com. 07, 2010. Accessed 07, 2010. http://www.studymode.com/essays/Indian-Pharma-358298.html.