LONDON, March 28, 2018 /PRNewswire/ --
PharmaBoardroom today releases its new 47-page Healthcare & Life Sciences Review India 2018.
With patients in almost every country on earth the recipients of affordable generic drugs produced in India; the south Asian nation can claim with some degree of force to be 'the pharmacy to the world.' Not only are Indian medicines consumed in the US and EU, but enterprising Indian companies are increasingly looking towards huge underserved developing markets across the globe.
Furthermore, Indian companies are tentatively scaling the value chain in their product offerings and moving into the R&D-intensive but potentially lucrative field of biologics; a handful of Indian biosimilars having already been approved in highly-regulated international markets. Multinationals are still being drawn to India too, helped by incentivising policies such as Prime Minister Modi's 'Make in India' initiative, as well as the enduring draw of the huge population and unmet medical need within the Indian domestic market.
In terms of challenges, low government healthcare expenditure within India is being compounded by a rise in lifestyle-related non-communicable diseases such as heart disease, strokes and diabetes. To this end, the administration issued a new National Health Policy in 2017, which proposes an increased package of insured comprehensive primary healthcare. Pharmaceutical companies active in India, both domestic and international, are facing pricing pressures within this context.
The government officials, regulators, MNC affiliate heads and domestic champions whose comments form the backbone of this report tackle these key issues along with a host of others, including contract research and manufacturing, corporate social responsibility, human resources and e-health.
The report features in-depth interviews with:
- Vinod K. Paul, NITI Aayog
- Dilip G. Shah, IPA
- Bhupendra Singh, NPPA
- Umang Vohra, Cipla
- Amit Mookim, IQVIA
- Melvin D'Souza, Novo Nordisk
- Ranjit Madan, LSSSDC
- Kanchana TK, OPPI
"The relative affordability of India-made generic drugs compared to their patented counterparts elsewhere has not only enabled India to provide quality drugs at a low cost for its own people but has also rendered the country a de facto pharmacy to the world." - Dilip G. Shah, IPA
"There is pretty much no country on earth that can manage without Indian medicines. Almost every developed country has an aging population and, as their budgets continue to shrink, affordable quality generics from India become increasingly appealing." - Daara B. Patel, IDMA
"The Western model has been about low volume - high value, whereas we believe in the opposite." - Kiran Mazumdar Shaw, Biocon
"I truly believe that India is the best place to invest in the manufacturing of drugs and devices." - Bhupendra Singh, NPPA
"I believe the lesson now is well learnt and that there is the willingness to understand the seriousness of complying with US standards, not only at GMP level but also in terms of data integrity." - Yogesh Agrawal, Ajanta Pharma
Click here to register and download the report.