Pharmaceutical companies in India are growing at a very fast pace and this has made the Indian pharmaceutical industry as the second largest growing industry. Also the pharmaceutical industry in India is the third largest in the world, which will be of US$20 billion by 2015. Mergers and acquisitions are the part of this growth. The compounded annual growth rate of pharma in India is 12-15% and the global figures are 4-7% for the period of 2008-2013. With such a profound growth of pharmaceutical companies in India numerous pharmaceutical jobs can be seen. This in turn is helping biotechnology industry and booming the biotechnology jobs in India.
Angel Broking has done a research on the growth of pharmaceutical industry and found that by 2015 the pharmaceutical industry in India will be in the top 10 markets. Yet another finding of FICCI-Ernst & Young study reveals that the population of high income group in India is rising which will give rise to more influx of MNCs and expensive drugs.
Pharmaceutical companies along with native companies are also competing with the top MNCs. Such a profound growth is because of the heavy population figures and with the increasing number of middle class people and their income the access to drugs and medicines is also increasing. But still the low-priced generics are popular in Indian pharmaceutical industry.
From India in year 2007-08 total of US$ 8.25 billion were exported and there was seen 29% rise in this figure in 2009. MR Anand Sharma, Union Minister of Commerce said that pharmaceutical sector in India has grown and it is the major contributor to exports from India. In 1990 the amount was meager as compare to today’s massive figures.
Initiatives by Government
Tax breaks are offered to pharma industry New procedure for the development drugs Proper clinical procedures New Millennium Indian Technology Leadership Initiative and the Drugs and Pharmaceuticals Research Programme – Two schemes launched by the government.
Some Vital Information on Pharmaceutical Companies in India
In terms of volume – India’s pharmaceutical industry is the third largest in the entire world. In terms of value – India’s pharmaceutical industry ranks fourteenth By 2015 – It will be in the list of top 10 global pharmaceutical markets and it will touch US $ 20 billion. 2008-2009 – Saw 29% growth in exports of pharmaceutical drugs as compared to 2007 2013 – Indian formulation market is expected to touch US$ 13.7 billion
Top 10 Pharmaceutical Companies in India
Ranbaxy Dr Reddy’s Laboratories Cipla Sun Pharma Industries Lupin Labs Aurobindo Pharma GlaxoSmithKline Pharma Cadila Healthcare Aventis Pharma Ipca Laboratories
Category: ‘Pharmaceutical Companies’
Pharmaceutical Industry in India, Top Pharma Companies and Jobs
Major Pharmaceutical Companies
Pharmaceutical companies have a major social responsibility while performing on a profitable motive. Several public platforms are shared by major pharmaceutical companies for this very purpose.
The pharmaceutical industry has several issues to contend with for profitable survival. The United States does not have regulations for drug prices, but several other regulations monitor the functioning of pharmaceutical companies in the country. Fierce competition from illegal drug imports is also an issue that cannot be ignored by major pharmaceutical companies.
There are several associations that represent pharmaceutical manufacturers. The International Federation of Pharmaceutical Manufacturers and Associations is an organization that is at the apex. It is a non-profit and non-governmental organization. Its members are several research based pharmaceutical, biotech and vaccine companies from both USA and other countries as well.
Organizations such as these, work for a global policy environment that is conducive to innovation in the pharmaceutical field. A survey of major pharmaceutical manufacturers indicates that collectively the industry has almost 700 medicines in the pipeline. These medicines are aimed at providing relief to people suffering from various diseases like HIV/AIDS, cancer, heart diseases and stroke among others.
The existence of a platform like an international association provides opportunities to major pharmaceutical companies to have collaborative relationships among themselves and foster industry growth in such a manner that provides avenues for overall improvement in public health while being commercially profitable.
One of the major pharmaceutical companies is Eli Lily, a global player. Their specialties include drugs for cancer, cardiovascular diseases, neurological disorders, endocrinal disorders, diabetes and several infectious diseases. Cephalosporin, erythromycin, insulin and Prozac are among Eli Lily’s major pharmaceutical breakthroughs. Pfizer is another major pharmaceutical company that has contributed a lot to alleviate human and animal suffering. Based in New York, Pfizer has been around since 1849.
Parke-Davis, Proctor & Gamble, Bristol-Myers Squib, Johnson & Johnson, 3M Company, Mars Incorporated, Bayer AG, Quest Diagnostics, Tyco International and Cardinal Health Incorporated are a few of the major pharmaceutical companies in the USA.
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