This article talks about innovation in the national pharma sector, growth potential, strategic creation of product lines, effect of patent changes, innovative practice, segmental focus, important manufacturers and the national laboratories.
The Indian pharmaceutical industry is a success story providing employment for millions and ensuring that essential drugs at affordable prices are available to the vast population of this sub-continent.
Great minds and think-tank experts say that the 20th century belonged to physics and the 21st will be dominated by the rise of biological sciences. If biology leads, can pharma be far behind? Especially, the Indian pharmaceutical industry which has registered a tremendous growth in the past decade and a half. A high annual growth of 8 to 9% is reflected in the total revenues of $5.5 bn. It competes with the developed world in the quality and range of medicines offered, most of which are manufactured within the country. The yearly output, not merely in terms of volumes and revenue, but also in the development and introduction of new products, is a sharp indicator of the level of innovation that governs Indian pharma. Indian technical and innovative capability that engineered rapid growth in high-rise sectors like software is amply displayed in the field of pharma. |
