By 2012, the Value of India's Pharmaceutical Market is Expected to Reach an Impressive...

By 2012, the Value of India's Pharmaceutical Market is Expected to Reach an Impressive US$17.8bn

DUBLIN, Ireland--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/reports/c88396) has announced the
addition of India Pharmaceuticals and Healthcare Report Q2 2008 to
their offering.

The India Pharmaceuticals and Healthcare Report provides
independent forecasts and competitive intelligence on India's
pharmaceuticals and healthcare industry.

BMI's regional Business Environment Rankings table for Q2 208 once
again ranks India as a moderately attractive proposition to
multinational pharmaceutical companies operating in the Asia Pacific.
Along with Malaysia, India is placed at a joint eighth position..
While its market size and annual growth indicators are viewed as some
of the key attractions, India still suffers from the disadvantage of
excessive red tape, an underdeveloped infrastructure, deficiency of
legal framework, low per capita spending, and a large rural and poor
population.

In addition, deficiencies in regulatory, intellectual property
(IP) and pricing environments remain as barriers to investment. The
Indian generic companies are defending themselves from costly patent
litigation from a number of prominent multinationals, including
Novartis and Roche. The latter, which filed a patent infringement suit
against Cipla in January 2008, is in fact already involved in a patent
suit with Ranbaxy Laboratories. On the other hand, a December 2007
decision by the Mumbai office to grant patent to Pfizer's HIV/AIDS
treatment Celzentry (maraviroc) represents a major turn-around in
favour of the multinationals. While Pfizer will be able to sell its
product for treatment without the damaging effects of generic
competition, revenues from the drug are not expected to be decisive
for the company due to its high cost and the pathological tests
required prior use. In the last decade, various Indian patent offices
have turned down no less than 10 antiretroviral patent applications.

By 2012, the value of the India's pharmaceutical market is
expected to reach an impressive US$17.8bn mark, an increase from the
current figure of US$12.2bn. Clearly, the market allows plenty of
commercial opportunities. However, industry consolidation around a
handful of large domestic players would squeeze smaller companies.
Indeed, industry leaders, including Ranbaxy and Dr Reddy's
Laboratories, have continued to be active in early 2008. The latter
launched a non-steroidal anti-inflammatory drug (NSAID) Supanac
(diclofenac potassium). Supanac, in-licensed from Swiss Applied Pharma
Research (APR), targets the US$688mn NSAID market, with two other
leading NSAID brands produced by Dr Reddy's, namely Nise (nimesulide)
and Retoz (etoricoxib). Similarly, the domestic active pharmaceutical
ingredient (API) industry is showing signs of expansion. In January
2008, Indian firm Dishman Pharmaceuticals and Chemicals reported its
plan to build an API plant in China, in an effort to further penetrate
the rapidly expanding contract research and manufacturing services
(CRAMS) market. In the same month, Israeli generics giant Teva
revealed its intention to strengthen its presence in Asia by
specifically choosing India for API production. India, which already
has over 200 good manufacturing practice (GMP) facilities, the highest
number outside the US, is posing a strong challenge to China as the
largest global API supplier.

For more information visit
http://www.researchandmarkets.com/reports/c88396

Source: Business Monitor International

Research and Markets
Laura Wood, Senior Manager
Fax: +353 1 4100 980
press@researchandmarkets.com

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