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The pharmaceutical industry in India ranks 3rd in the world terms of volume and 14th in terms of value. According to Department of Pharmaceuticals,, the total turnover of India's pharmaceuticals industry between 2008 and September 2009 was US$21.04 billion.,, and are the major pharmaceutical hubs of India. The domestic market was worth US$13.8 billion in 2013. The started to encourage the growth of drug manufacturing by Indian companies in the early 1960s, and with the Patents Act in 1970. However, in 90s by the former Prime Minister and the then, enabled the industry to become what it is today.
List Of Best Pharma Companies In India 2017 (Top Pharma companies). As we have seen around us that pharmaceutical companies are growing and having a high demand. It plays a major role in our lives and to improve our health. Torrent Pharmaceuticals Ltd. Brand List that includes tablets, capsules, syrups, etc. Brands listed with corresponding Generic name and price details.
This patent act removed composition from food and drugs, and though it kept process patents, these were shortened to a period of five to seven years. The Lack of patent protection made the Indian market undesirable to the multinational companies that had dominated the market. Whilst the multinationals streamed out, Indian companies carved a niche in both the Indian and world markets with their expertise in reverse-engineering new processes for manufacturing drugs at low costs.
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Although some of the larger companies have taken baby steps towards drug innovation, the industry as a whole has been following this business model until the present. India's industry clocked a 17 percent growth with revenues of Rs.137 billion ($3 billion) in the 2009-10 financial year over the previous fiscal. Bio-pharma was the biggest contributor generating 60 percent of the industry's growth at Rs.8,829 crore, followed by bio-services at Rs.2,639 crore and bio-agri at Rs.1,936 crore. Contents • • • • • • • • • • • • • • • • Overview [ ] The number of purely Indian pharma companies is fairly low. Indian pharma industry is mainly operated as well as controlled by dominant foreign companies having subsidiaries in India due to availability of cheap labor in India at low cost.
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In 2002, over 20,000 registered drug manufacturers in India sold $9 billion worth of and bulk drugs. 85% of these formulations were sold in India while over 60% of the bulk drugs were exported, mostly to the United States and Russia.
Most of the players in the market are small-to-medium enterprises; 250 of the largest companies control 70% of the Indian market. Thanks to the 1970 Patent Act, multinationals represent [ ] only 35% of the market, down from 70% thirty years ago. Most pharma companies operating in India, even the multinationals, employ Indians almost exclusively from the lowest ranks to high level management. [ ] Homegrown pharmaceuticals, like many other businesses in India, are often a mix of public and private enterprise. [ ] In terms of the global market, India currently holds a modest 1–2% share, but it has been growing at approximately 10% per year. India gained its foothold on the global scene with its innovatively engineered generic drugs and active pharmaceutical ingredients (API), and it is now seeking to become a major player in outsourced clinical research as well as contract manufacturing and research.
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There are 74 US FDA-approved manufacturing facilities in India, more than in any other country outside the U.S, and in 2005, almost 20% of all Abbreviated New Drug Applications (ANDA) to the FDA are expected to be filed by Indian companies. Growth in other fields notwithstanding, generics are still a large part of the picture. London research company Global Insight estimates that India’s share of the global generics market will have risen from 4% to 33% by 2007. [ ] The Indian pharmaceutical industry has become the third largest producer in the world and is poised to grow into an industry of $20 billion in 2015 from the current turnover of $12 billion. Quality [ ] The Quality of drugs and APIs (Active Pharmaceutical Ingredients) made by Indian pharmaceutical companies is very good. In the past three years 2015 - 2017, there were 31 FDA warning letters to Indian pharmaceutical companies citing serious Data Integrity issues, including data deletion, manipulation or fabrication of test results, see “An Analysis Of 2017 FDA Warning Letters On Data Integrity” By Barbara Unger, Unger Consulting Inc.