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Industry Overview

Pharma industry to grow at 20% this fiscal


According to Pharmaexcil, Indian pharma industry is expected to grow at 20% this financial year. It will achieve a export target of US$9 billion. Indian pharma produces around US$ 11 billion worth of drugs for domestic consumption. Totally it produces US$ 18 billion worth of drugs which is 8% of global production and 2% in terms of value. 30% of total exports is contributed by top ten Indian companies.


New regulatory regime for pharma industry

A friendly regulatory regime for pharma industry will come into force. Dept. of Pharmaceuticals has met major pharma companies to identify bottlenecks that mars pharma research. It plans to iron out difficulties  to provide a boost for pharma research in the country. It will facilitate faster approvals for various stages of animal and human experiments. Overall, it will be friendly to pharma companies, provide protection of research data at the same time prevent pharma companies to hold on patents only upto 20 years without extending the same by exclusive rights

 

 

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