Indian pharma to grow big in few years

24 May 2007

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In the next six years, contract research and manufacturing services (CRAMS) in pharmaceuticals is expected to grow to more than $6 billion. As a result Indian companies have an opportunity to capture a lion''s share of this large opportunity.

As global drug makers struggle to cut costs and look out for high quality collaborative research, it is time for Indian drug makers to prepare to put their best foot forward.

According to a recent study by global consulting Frost and Sullivan, CRAMS in India was pegged at around $900 million till 2006 but could explore opportunities to the extent $6.6 billion dollars. Multinational drug firms agree that the conditions are right.

In the recent past, companies like Dishman Pharma, Nicholas Piramal, and Advinus have bagged significant contracts for high value research projects. Experts feel that the perception about Indian research is fast changing.

Experts say it is time for Indian drug makers to move up the value chain and get associated with the multinational drug companies from early stages of research right up to the commercialisation of the product.

But, with research cost gradually mounting and a shortage of good scientists; Indian companies may have to fight harder to beat aggressive rivals from countries like Korea, Taiwan and Philippines.

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