Merck hopes to be among top-five drugmakers in India
11 Mar 2011
Seeking a larger slice of the growing Indian drug sales market, US drug major Merck is looking at catching up with its rivals including Glaxo Smith-Kleing (GSK) and Abbott to be among the top five players in India.
K G Ananthakrishnan, managing director, MSD Pharmaceuticals, the Indian subsidiary of Merck, said from the current rank of 29, MSD is looking at being in the top 5 by 2015.
''We plan to achieve this by introducing our global products and partnering with other firms,'' he said.
By 2015, the pharmaceutical market in India is expected to be $20 billion, as per the estimates of consulting firm McKinsey & Co.
Though 29 to 5 is a big jump, Ananthakrishnan feels it is quite possible. ''We will focus on mainly organic growth. We are launching six global brands this year in areas like infectious diseases, cardio-vascular and respiratory ailments, etc, all of which are key concerns in India,'' said Ananthakrishnan.
He said that the company is not averse to inorganic opportunities if they make a strategic fit.
