Indian pharma sector to excel in ’08

by Dave

A McKinsey report stated that
India’s pharmaceutical market has the potential to grow to $2,000 crore
by 2015, maintaining 12.3% CAGR, growing more than 300% from $600 crore
in 2005. This incremental growth of around $1,400 crore will make India
the third largest after the US and China in value terms in 10 years

India is a major destination for contract research and manufacturing services, owing to its low costs, skilled manpower and manufacturing capability, with a number of USFDA-approved plants operating in the country. API manufacturing, clinical research and basic research are the major facilities currently offered by domestic service providers.