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Immense opportunities await Indian pharma manufacturing industry: Study

Immense opportunities are waiting for the Indian pharmaceutical industry, both at the domestic and at the global level, and the future will be extremely promising with many more milestones, according to a research study conducted by Dr G Selvaraju, former director of drugs control, Tamil Nadu for the Vinayaka Mission University, Salem, Tamil Nadu.

While there are advantages to take pride in by the industry, there are also challenges to face with by the industry players and those hurdles need to be overcome in order to achieve sustainable growth in the future. Skilled workforce, low labour cost and opportunities for export are the major advantages of the Indian pharma industry, says the study.

In a tete-a-tete with Pharmabiz, Dr Selvaraju said, his study on “Marketing Problems and Prospects of Pharmaceutical Companies (with reference to Indian pharmaceutical companies),” has found that demand for quality healthcare service, growing population and changing lifestyle are some of the most favourable market conditions in the country. Whereas, the increasing regulatory and medical constraints and enforcement of patent norms are the most unfavourable market conditions for the industry. New drug approval, patent issues and R&D expenditure are the main issues related to pharma products.

Regarding pricing related issues, he finds that low pricing by competitors, government control and low margin are the major ones. In the distribution side, the main issues come around longer credit periods, high territory development costs, high level of dumping and poor payment recovery.
According to his study, the Indian pharmaceutical industry has 200 medium and large size R&D-based pharmaceutical companies including multinationals, government owned and Indian private companies. Besides, it is estimated that there are 10,000 smaller licensed generic manufacturers, out of these, only 3,000 are operational. But, all the companies are vying for the branded generic drug space to register their global presence.

As a whole, the Indian pharmaceutical sector is highly fragmented with more than 20,000 registered units with severe price competition and government control. It has expanded drastically in the last two decades. There are about 250 large units that control 70 per cent of the market share, and about 8000 small scale units together form the core of the pharmaceutical industry in the country.

He suggests that, to survive competition, the pharma companies should focus more attention on R&D activities. “As we are moving towards globalization, there is a need for strategic planning to meet the challenges posed by the product patent era. In the present context with the available expertise, manpower and skill, the Indian pharmaceutical industry is able to fight successfully for a global market share,” he opined.

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2/10/2014 5:43:39 PM