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Future trends of Indian Pharma Industry

Conventionally, the Indian pharmaceutical industry has been depended on a core competency in generics, manufacturing and comparatively unripened potentialities in Research & Development. This prospect has overhauled considerably since the 1990s and Indian companies have been making investments towards nourishing drug discovery and development activities.

The adoption of patent laws and the surge of contract manufacturing have preceded to the diversification of revenue streams, altering Indian pharma industry to go across high market growth.

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Generics Revolutionizing the Indian Healthcare Industries

Revolutionary Effect of Generics In Healthcare Industry:

The Indian pharma industry traces back its origin to 1903 when Bengal Chemical and Pharmaceutical Works was initiated in Calcutta by Professor P.C. Roy Pre?independent India largely remained dependent on other countries for medicines. The major suppliers were UK, France, and Germany. The new government post-independence focused on self-dependence and emphasized on industrialization that also included pharmaceuticals. As a result Hindustan Antibiotics Ltd. (HAL) came into existence in 1954, and following it was Indian Drugs and Pharmaceuticals Ltd. (IDPL) in 1961.

The IDPL program proved India to be capable of producing drugs at very reasonable prices and also helped in developing human and physical capital, and in establishing a network of research institutes. In spite of these facts, till 1970s the pharma industry in India was dominated by multinational companies (MNCs), which continued minimum physical operations in India.

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