Advantage India
Cost
Efficiency
* Access to affordable HIV treatment from India is one of the greatest success stories in medicine. India is one of the biggest suppliers of low-cost vaccines in the world. Because of the low price and high quality, Indian medicines are preferred worldwide, thereby rightly making the country the ‘Pharmacy of the World’.
Economic
Drivers
* On December 21, 2020, MoU was signed between Tata Memorial Centre of India and Vietnam National Cancer Hospital to promote exchanges in the areas of training and scientific research, health care services, collaboration in diagnosis and treatment for cancer patients.
* The total market size of the Indian Pharma Industry is expected to reach US$ 130 billion by 2030.
policy
Support
* Strengthening of Pharmaceutical Industry (SPI): The Ministry's scheme “Strengthening of Pharmaceutical Industry (SPI)" with a total financial outlay of US$ 60.9 million (Rs. 500 crore) extends support required to existing pharma clusters and MSMEs across the country to improve their productivity, quality and sustainability.
* Pradhan Mantri Bhartiya Jan Aushadhi Kendras (PMBJKs): The Government has set a target to increase the number of PMBJKs to 10,500 by the end of March 2025. Product basket of PMBJP comprises of 1,451 drugs and 240 surgical instruments.
Increasing
Investment
* Up to 100%, FDI has been allowed through automatic route for Greenfield pharmaceuticals projects. For Brownfield pharmaceuticals projects, FDI allowed is up to 74% through automatic route and beyond that through government approval.
* The cumulative FDI equity inflow in the Drugs and Pharmaceuticals industry is US$ 20.96 billion during the period April 2000-September 2022. This constitutes almost 3.35% of the total FDI inflow received across sectors.
* Indian pharma companies have a substantial share in the prescription market in the US and EU. The largest number of FDA-approved plants outside the US is in India.
Sun Pharmaceuticals
Sun Pharmaceuticals is the largest pharmaceutical company from India and the fifth largest specialty generic company in the world. It has capabilities across dosage forms like injectables, sprays, ointments, creams, liquids, tablets, and capsules. Its businesses include producing generics, branded generics, speciality, over the counter (OTC) products, anti-retrovirals (ARVs), active pharmaceutical ingredients (APIs) and intermediates in the full range of dosage forms. It also produces specialty APIs. In FY 2021-22, India branded generics contributed the most to company’s sales with 33% share, followed by US business at 30% share.
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Cipla
Cipla is a leading pharmaceutical from India with presence across the world. It was established in 1935 as Chemical Industrial & Pharmaceutical Laboratories Ltd and changed to its current name in 1984. The company has a vast portfolio with more than 1,500 products in the market. The company’s business is divided into three strategic units - APIs, respiratory and Cipla Global Access. Its largest market is India, followed by Africa and North America. The company’s total revenue reached Rs. 5,829 crore (US$ 717.2 million) in the second quarter of FY23.
Read MoreLupin Pharmaceuticals
Lupin Ltd. is a leading pharmaceutical company from India and is amongst the top 10 generic companies in the world. It started its business in 1968 and over the years has become one of the largest pharmaceutical companies in India and the world. Its businesses include formulations, Active Pharmaceutical Ingredients (API), drug delivery systems and biotechnology. Lupin’s total revenue stood at Rs. 41,455 million (US$ 509.98 million) in the second quarter of FY23.
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