The Indian Pharma Industry under the Product Patent Regime |
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India's potential to be a sourcing hub for pharmaceuticals is presenting a huge opportunity and hence there is likely to be significant investments.1 - Alok Gupta, Country Head, Life Sciences & Biotechnology, Yes Bank. Many MNC pharmaceutical companies are looking to do clinical trials and research in India, resulting in many contract research organizations (CROs) coming up. A significant number of pharmaceutical companies have Indian operations for clinical trials and research.2 - R Chandrasekaran, Managing Director, Cognizant Technology Solutions. Indian generics could well be the next big thing in the West where the generic market is growing in a big way. This has reinforced India's part in the emerging generics space.3 - Ton Gardeniers, Managing Director & Global Head - Healthcare and Chemicals, ABN Amro Bank. Introduction
McKinsey predicted that the Indian pharma industry would have sales of Rs 1000 billion by 2010 from Rs 374 billion in 2004. In 2005, the domestic pharma industry employed half a million people directly while it provided employment to another two and a half million people indirectly, taking the total employment generation of the industry to three million people (Refer Exhibit I for key statistics related to pharma industry in India).
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1] D'Silva, Jeetha, Kuber, Girish, "Pharma tops the
FDI chart in '04 with $340 mn inflow,"The Economic Times, April 18, 2005. |
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