India Pharma Outlook 2016: A New Ministry
2016 will be a crucial for drug makers and consumers. During
‘Make-in-India’ week in Mumbai, Govt. highlighted many amendments or
introduction of new policies with an aim to make India as a major hub for end
to end drug discovery. To boost drug discovery, to promote manufacturing of
certain drugs against life threatening diseases like AIDS, and to reduce our dependence
on China, the Govt. has promised to offer many incentives (exemption from
excise duty or tax) and also plans to setup venture capital funds, cluster
developments to strengthen Pharma infrastructure / business. Other developments
or initiatives include, i) The voluntary Uniform code of Pharma marketing
practice will be replaced with a mandatory code by June. This will stop the
promotion of drug prior to receipt of the marketing approval and also the
practice of drug makers offering gifts to doctors upon prescribing their
products; ii) Concept of the ‘Online pharmacies’ is also expected to be
implemented during this year; iii) Change in FDI rule where investor now invest
thru Automatic route rather taking any prior regulatory approval; iv) Growth in
Medical Infrastructure which will increase accessibility to drug market to
improve in Tier-II towns and rural areas.
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Pharma Outlook 2016
Declined growth in bulk drugs due to regulatory scrutiny and rising
competition & market factors from other Asian competing nations will be
compensated by geographies expansion (e.g., Lupin, Cipla, Sun Pharma) and
sustainable growth from Domestic formulation (e.g. Alkem, Cipla, Sun Pharma, Dr
Reddy), mainly from Chronic diseases’ segment, due to growth in urban population,
better awareness on healthcare, and greater penetration of services.
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Outlook 2016
India Pharma has started expanding in other regulated markets (Japan,
Germany, France, Canada) and Tier-II countries (Brazil, Mexico, Venezuela,
Russia, etc.). To explore further opportunities of growth, Indian Pharma
companies have started developing complex generics/ biosimilars. Almost all
companies, among Top-20 list, have robust pipeline in this value chain,
targeting primarily emerging markets; however, they are also capitalizing on
their competitiveness and capabilities to enter into the regulated market.
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