Tweet on Twitter Acquisitions and Regulatory Mechanisms Indian pharmaceutical companies gained their stature by selling generic drugs in a market previously dominated by MNCs. However, post it became difficult to sustain their growth, with the advent of product patents. Reverse engineering of patented drugs became extremely difficult with the advent of product patents.
The last few years have seen what can only be described as a boom in both product scope and overall growth. In the process, it has created countless investment opportunities, further fuelling its role as a leading global employer in pharmaceutical development.
Global Demand In JanuaryDonald Trump announced that the US would address the rising cost of drugs by reducing the amount of imports. However, due to the sheer volume of pharmaceuticals imported from India into the country, this move could actually increase drug prices for the foreseeable future.
Whilst imports of statins, anticonvulsants and insulin have doubled over five years, imports of proton-pump inhibitors are six India pharmaceutical industry higher than before.
Though numerous countries supply these products, three-fifths come from India. Put simply, India is keeping the world fit and healthy.
This is a result of the great availability of scientists, engineers and skilled workers, combined with a robust base of over 20, manufacturing units.
This strength of numbers also applies to the general population. This then feeds back into the system, as it makes financial and logistical sense to move some elements of production to an area where clinical trials are the most focused. By entering into a distribution agreement with Mitsubishi Tanabe Pharma Corporation, it opened up a new market to 14 prescription brands in Japan.
Meanwhile, Syngene International is setting up its fourth exclusive Research and Development centre for Amgen Incorporation, a US-based biotechnology company. Social Effect With pharma products researched and produced in their homeland, the general health awareness amongst natives is increasing.
This is matched by average lifespans being longer than they were a few years ago, as well as a rise in sales, marketing and management jobs.
This is good news for the country, with the flourishing pharma industry having a positive knock-on effect on salaries and lifestyle, subsequently helping to improve wellbeing, mental health and life satisfaction. Growing collaboration with global companies will continue to create more secure jobs than most other sectors.
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Anti-dumping and countervailing measures are permitted by the WTO Agreements in specified situations to protect the domestic industry from serious injury arising from dumped or subsidized imports. India imposes these from time-to-time to protect domestic manufacturers from dumping.
As the largest supplier of generic drugs in the world, India is a pharmaceutical powerhouse. Its strong industry infrastructure and regulatory framework, in addition to its lower production costs. The pharmaceutical industry in India provides several opportunities for investments and trade due to the following factors: 1.
With respect to India's huge population it is an excellent center for clinical trials. DG Shah, secretary of the Indian Pharmaceutical Alliance, an association of India’s top drug companies, acknowledges the industry is struggling to meet stringent US standards.
U.S. Pharmaceutical Industry - Statistics & Facts The U.S. pharmaceutical market is the world’s most important national market. Together with Canada and Mexico, it represents the largest.