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THE PHARMA REVIEW (NOVEMBER DECEMBER 2013)

New Drug Discovery – Emerging Contours

Dr. M. D. Nair

Introduction: In spite of such achievements, there is increasing cynicism among broad sections of the population about the role that the pharmaceutical industry plays in the welfare of human ailments and maintenance of an acceptable quality of life. Value of production globally of this industrial segment has crossed $ 1 trillion representing an average annual per capita consumption of drugs world-wide at $ 160. This figure is highly misleading since in most of the developing world, where 75% of the World’s population reside, per capita annual consumption is between $ 5 and $ 25. In India, the average annual per capita consumption of drugs is less than $ 15. However, the rate of growth in use of drugs is much higher in the emerging markets of the developing world where annual growth is around 12-15% whereas the growths in U.S. and Europe are in low single digits and in Japan practically nil. Thus over time, the market will shift to developing economies, a fact which compels MNCs to be ever more present in those markets. That means that the medical needs of the developing countries need to be addressed. That is just not happening. 

 

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