By 2012, the Value of India’s Pharmaceutical Market is Expected to Reach an Impressive US$17.8bn

by Dave

Opportunities to set-up API production facilities in LatAm to serve this region

via Business Wire
By 2012, the value of the India’s pharmaceutical market is expected to reach an impressive US$17.8bn mark, an increase from the current figure of US$12.2bn. Clearly, the market allows plenty of commercial opportunities. However, industry consolidation around a handful of large domestic players would squeeze smaller companies. Indeed, industry leaders, including Ranbaxy and Dr Reddy’s Laboratories, have continued to be active in early 2008. The latter launched a non-steroidal anti-inflammatory drug (NSAID) Supanac (diclofenac potassium). Supanac, in-licensed from Swiss Applied Pharma Research (APR), targets the US$688mn NSAID market, with two other leading NSAID brands produced by Dr Reddy’s, namely Nise (nimesulide) and Retoz (etoricoxib). Similarly, the domestic active pharmaceutical ingredient (API) industry is showing signs of expansion. In January 2008, Indian firm Dishman Pharmaceuticals and Chemicals reported its plan to build an API plant in China, in an effort to further penetrate the rapidly expanding contract research and manufacturing services (CRAMS) market. In the same month, Israeli generics giant Teva revealed its intention to strengthen its presence in Asia by specifically choosing India for API production. India, which already has over 200 good manufacturing practice (GMP) facilities, the highest number outside the US, is posing a strong challenge to China as the largest global API supplier.