Import of Raw Materials 4 Pharmacy Products
Introduction To Indian Pharmacompanies
The pharmaceutical industry of India has matured over the years into a major producer of bulk drugs, rated among the top five in the world. The industry is largely concentrated in the production of ‘generics’ on account of the Process Patent Law introduced in the seventies (repealed under the recent TRIPS Agreement). India has since been able to establish technological capability for manufacture and supplying of generic drugs. This ‘generics capability’ of India has attracted worldwide attention. A noticeable surge in mergers and acquisitions with either a foreign company seeking a stake in an Indian counterpart or vice versa reflects the attractiveness of what has been called as the ‘platform of capabilities’. Indian companies seek to expand and consolidate their platform of capabilities in their endeavor to either develop indigenous branded generics or to acquire established branded generics. Today the Indian pharmaceutical industry has become a prominent provider of healthcare. It meets 95% of the country’s medical needs and constitutes about 1.3% of the world market in value terms and 8% in volume terms represented by 250 large pharmaceutical manufacturers (5 of these are in the public sector) and about 8000 small scale units. The generics pharmaceuticals sector in India have come of age, their future sustainable growth depends on ensuring competitive markets and the Competition Commission is sensitive to the differing perspectives that are inevitable to an industry so critical to life itself.
Brief sketch of pharmaceuticals industry
The Indian Pharmaceutical Industry is among top five producers of bulk drugs in the world. Pharmaceuticals market can be roughly classified into Bulk drugs (20% of the market) registering growth rates of 20% and formulations (80% of the market) with an annual growth rate of 15%.There are about 8174 bulk drug manufacturing units and 2389 formulations units spread across the country.
The pharmaceutical industry of India has matured over the years into a major producer of bulk drugs, rated among the top five in the world. The industry is largely concentrated in the production of ‘generics’ on account of the Process Patent Law introduced in the seventies (repealed under the recent TRIPS Agreement). India has since been able to establish technological capability for manufacture and supplying of generic drugs. This ‘generics capability’ of India has attracted worldwide attention. A noticeable surge in mergers and acquisitions with either a foreign company seeking a stake in an Indian counterpart or vice versa reflects the attractiveness of what has been called as the ‘platform of capabilities’. Indian companies seek to expand and consolidate their platform of capabilities in their endeavor to either develop indigenous branded generics or to acquire established branded generics. Today the Indian pharmaceutical industry has become a prominent provider of healthcare. It meets 95% of the country’s medical needs and constitutes about 1.3% of the world market in value terms and 8% in volume terms represented by 250 large pharmaceutical manufacturers (5 of these are in the public sector) and about 8000 small scale units. The generics pharmaceuticals sector in India have come of age, their future sustainable growth depends on ensuring competitive markets and the Competition Commission is sensitive to the differing perspectives that are inevitable to an industry so critical to life itself.
Brief sketch of pharmaceuticals industry
The Indian Pharmaceutical Industry is among top five producers of bulk drugs in the world. Pharmaceuticals market can be roughly classified into Bulk drugs (20% of the market) registering growth rates of 20% and formulations (80% of the market) with an annual growth rate of 15%.There are about 8174 bulk drug manufacturing units and 2389 formulations units spread across the country.