The Indian Pharmaceutical Industry

INTRODUCTION The pharmaceutical industry in India is a leader in the Indian science industry. This is a highly organized department. The industry is estimated to be worth $ 5 billion and grows from about 8% to 9% per year. It is ranked high in terms of technology, quality and medicine. Almost all kinds of medicines are currently being produced locally, from simple headache medications to severe antibiotics and complex cardiac compounds. It meets the need of about 70% of national API, pharmaceutical intermediates, tablets, chemicals, capsules, oral medications and injections.

Today, the Indian pharmaceutical industry is the leader in Indian scientific industry and has a wide range of functions in complex pharmaceutical manufacturing and technology. The Indian pharmaceutical industry is a highly organized industry with an estimate of $ 4.5 billion and an annual growth rate of about 8-9%. It is ranked highest in the third world in terms of technology, quality and range of manufactured medicines. From simple headache medicines to complex antibiotics and complex cardiac compounds almost all kinds of medicines are now being produced locally.

India is changing and the Indian pharmaceutical industry is changing. Waves of manufactured and exported products developed by growing Indian pharmaceutical companies like Dr. Reddy and Dr. Ranbaxy are beginning to penetrate the world's pharmaceutical markets. India is expected to be doing more and more innovation in the current "Made in India" campaign. However, as shown below, Indian pharmaceutical companies are not always innovation oriented. Indeed, in the majority of the second half of the 20th century, Indian pharmaceutical companies were driven by government policies to focus on import substitutes based on counterfeit goods. For this purpose, they are encouraged to develop process technology capabilities to produce common variants of branded drugs developed by foreign multinationals.

Between the 1980s and the 1990s, the Indian pharmaceutical industry became one of the most exported industries in India's pharmaceutical industry, and over 30% of its products were exported to foreign markets. In 1991, domestic enterprises accounted for approximately 70 to 80% of market share of API and formulation. The trade deficit in the 1970s was replaced by the trade surplus of the 1980s. (Figure 2.1). In the fourth phase of industrial development in the 1990s, the policy system of the pharmaceutical industry changed drastically. Allowing drug cancellation with automated route, 100% foreign investment, and price control has been greatly reduced.