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THE PHARMA REVIEW (JANUARY FEBRUARY 2015)

Globalizing The Indian Pharma Sector - Opportunities and Challenges

Anantha Naik Nagappa, Asim Priyendhu, Lalith Kumar Mittal & Bharathi Chandran

Introduction: The pharmaceutical industry of independent India is as old as India itself, spanning over seven decades. The Indian government soon after taking charge of independent India realized the importance of quality medicines to be made available to the Indian population. It quickly made the business environment attractive for pharmaceutical industries overseas to setup their branches in India. Many American and European origin pharmaceutical industries established their manufacturing units in the country. They chose Bombay as their center to set up industries and began to manufacture. In the mid 1970ís the indigenous manufacturers started their own enterprise and started becoming dominant rivals for the foreign companies. They started retreating from India as they found operations too stringent and the rules and regulations like The Patents Act 1970, The Foreign Exchange Regulation Act 1973 and The Drug Price Control Order 1995 compelled the international manufacturers to downsize their business. Further after 1970, several public sectors like Indian Drugs and Pharmaceuticals Limited, Hindustan Antibiotics, state owned enterprises like Karnataka Antibiotics and Pharmaceutical Limited, Rajasthan Antibiotics and Pharmaceutical Limited entered the market and developed their business space in anti-infective and essential drugs. There was also Indian private enterprise to emerge which became dominant and developed as a major Indian multinational brand -Table 1 gives the list of Indian origin Private multinationals in the Pharmacy sector1. 

 

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