AndhraNews.Net - The Indian Pharmaceutical Industry

Hyderabad: August 23, 2003

The last 50 years have seen an impressive growth of the pharmaceutical industry in India. Today, the country is the 4th largest manufacturer of pharmaceuticals worldwide.

From a production of mere Rs 180 million of bulk drugs in the 60�s, it has grown to Rs 54.4 billion. This accounts 300 times growth. Formulations have grown almost 140 times from Rs 1500 million to Rs 210 billion and exports from a modest of Rs 30 million to Rs 100 billion.

From a closed, highly controlled environment, the industry has moved towards greater liberlization and is now gearing up to meet the challenges of the WTO regime. India now has the highest number of manufacturing units with about 30 US FDA & 100 TGA/MCA approved facilities plus about 200 WHO GMP approved facilities. A sizeable number of companies have also accelerated their investments in R&D.

The Pharmaceutical industry in India has abundant scientific and technical manpower, thus possessing a strong intellectual capital. It is ideally suited for conducting clinical research in view of its genetic diversity. It has a rich heritage of herbal products too, along with a plethora of APIs, intermediates, chemicals and excipients. No wonder therefore, McKinsey & Company has forecasted a compounded growth of 19 per cent for the Indian Pharmaceutical Industry.

Press Release by: Solus Media

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