The pharmaceutical word never ceases to be exciting and full to challenges. Let us examine some of the highlights of the exciting scenario. The year 2010 started with a very happy augury and U.S senate approved president Barak Obama’s health care overhaul, backing sweeping and changes in the medical-insurance and new coverage for tens of millions of uninsured American.
They have spate of merges. If Sanofo-Avintis
acquired chattem for a modest US $ 1.9
billion to emerges as words fifth large
consumer health care company measured by
product revenues.
Novartis had to invest a whooping US $ 28 billion to rise its stake to 77% to take control of the leading eye care company Alcon and Pfizer has entered into a supply deal with bang lore based Strides Acrolabs to significantly scale up its generics business.
The last mentioned development gives clear signal, India is immerging as global generics capital. The Indian pharmaceuticals industry the fourth largest market in Asia Pasific after Japan, China and South Korea. However its per capita expenditure drug stands at $ 12 which is one of the lowest in the world comparable to Pakistan and Vietnam. One of the main reasons for this low per capita expenditure in drugs is that we produce world-class medicine at very low affordable price.
Besides, in Ayurveda we have the highest evolved traditional health system of human civilization. The Indian pharma industry is highly organized knowledge based industry, valued Rs.90,000 crores and growing at 15% per annum. The industry meets around 70% of country’s demand for bulk drugs, drug intermediates, pharmaceutical formulations, chemicals, tablets, capsules, orals and ingestibles.
The gigantic Indian pharmaceutical industry is getting the bulk of its medicine under contract manufacturer from small and medium enterprises. The contract manufacturer, clustered in the hill states of Uttrakhand and Himanchal Pradesh are estimated to manufacture about 60% of medicine valued at Rs. 25,000 crores consumes in the country.
The crux of the matter is that there is never a dull moment in pharmaceutical sectors. The indigenous pharmaceutical industry is a sun shine industry and the upswing will continue for a long time to come. Even in the worst period of global recession the Indian pharmaceutical industry offered a 13-20% increase in salary.
The Azad Institute of Pharmacy and Research will continue to strive to play a pivotal role and contribute handsomely in the onward growth of our pharmaceutical sector through excellence in education in a lively inter-active environment with an spirit of eugury.
