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CPhI released the results of its
CPhI released the results of its 2017 India Pharma Market Report. The findings identified a two-tier manufacturing market and predict an increase in acquisitions by Indian companies, including an improvement in the international reputation of Indian-made pharmaceuticals. Additionally, a vast majority of domestic companies are requesting government support to invest in API sites.
The report combined opinions from 500 domestic and international companies and identified four main areas that Indian pharma companies are investing in-commercial scale and scale-up facilities (50%), continuous processing (33.33%), biologics and aseptic/sterile both are just over 20%. Throughout the next three years, the amount of companies planning to invest in biomanufacturing facilities rises to one third.
This report is announced ahead of CPhI India (November 27-30, 2017), which is predicted to reach 40,000 attendees, with overseas interest in the country growing rapidly. The findings also highlighted that the international reputation of the country on “data integrity” has also improved; 96% agree that the CDSCO certification programs and initiatives are helping increase compliance. Also, 52% of international respondents believed the CDSCO is moving toward comparability with the regulatory standards of the EMA and FDA.
A concern emphasized among domestic companies (86%) was an over reliance on Chinese ingredients within the finished formulations sector. The majority of domestic companies (81%) believe the Indian government needs to invest in domestic API facilities and offer tax breaks and incentives to protect the generics industry in India to prevent losses in market share.
Read the full report here.