MUMBAI, India, May 12 /PRNewswire/ -- From being an import-dependent industry in the 1950s, the Indian pharmaceuticals sector has come a long way to become the $7 billion giant it is today. India is not only self-sufficient in terms of pharmaceutical products, but has also achieved global recognition as a manufacturer and supplier of low-cost, high-quality bulk drugs and formulations to over 50 countries.
India is currently among the top five global manufacturers of APIs. The production of APIs continues to swell with an increasing number of international companies making a beeline to India to meet their API supply needs. Frost & Sullivan estimates the total production of bulk drugs in India to be $1-1.5 billion units in 2004. Almost 70 percent of this total production is exported.
With India having the largest number of United States Food & Drug Administration (USFDA)-approved manufacturing facilities outside the United States, the number of drug master filings (DMF) by Indian companies is mounting every year. Greater production of APIs has led to enhanced demand for pharmaceutical intermediates. The total size of the Indian market for synthetic pharmaceutical intermediates was estimated at $500-550 million in 2004 and is growing at a steady rate of 5-10 percent.
The key drugs driving sales and hence, the production of APIs and intermediates, have been antibiotics and anti-infectives, cardiovascular system (mainly hypotensives and cardiac therapy drugs), central nervous system drugs, respiratory drugs (cough, cold, and anti-asthmatics medicines), anti-inflammatory drugs, and the fast growing segment of anti-diabetics. The total sales of drugs in these key therapy areas was almost $4.7 billion in 2004.
Indian fine chemical manufacturers have the technical expertise and R&D capabilities to produce niche, complex, and high-quality intermediates belonging to these therapy areas. These companies demonstrate considerable potential for collaborative and outsourced R&D in drug development, biotechnology, and chemicals. While legislation and technology capacity are driving Indian companies to fine-tune their strategies to compete with western enterprises, these foreign businesses are also encouraging the Indian organizations to achieve their growth targets through co-operative strategies. Collaborative business approach includes API manufacturing, contract manufacturing for existing drugs, clinical outsourcing, and research partnerships. Some leading companies in India follow a mixed model approach that includes both collaborative and competitive strategies.
"This mutual interest of Indian and western companies, the ability of Indian companies to adapt to modern technologies, and the consequent enhanced focus on product innovation and strategic partnerships are the buildings blocks of Frost & Sullivan's Global Summit on the Opportunities in Life Science Molecules," says Anand Rangachary, Director, Frost & Sullivan, India.
This premium event being held at Goa (India) from June 3-5, 2005, is a gathering of the leaders from Indian and global pharmaceuticals and fine chemicals industries. With the confirmed participation of corporate and research heads from Lonza, DSM Pharma Chemicals, Cambrex Corporation, LANXESS, Diosynth, Bachem, American Pharmaceutical Partners, Alpharma, and Wyeth Research, the conference will not only serve as a conclave of thought leaders but also an ideal platform for networking and initiation of business partnerships. With international participation expected from leading pharmaceutical companies, this summit could be an arena for knowledge exchange in the areas of R&D, strategic partnership and outsourcing, emerging technologies in drug manufacturing, custom synthesis, global leadership, and many more. Added to the range of discussions and presentations are two focused three-hour workshops - one on the generic drug industry, and the other on achieving successful outsourcing partnerships, facilitated by experienced professionals in the industry.
Indian companies have visibly created a niche for themselves in the global pharmaceuticals area. This international conference organized by Frost & Sullivan provides an opportunity for established participants as well as entrants to capitalize on this phase of pharmaceutical upswing by interacting with global leaders, initiate business partnerships, and thereby, sustain themselves in future.
About Frost & Sullivan:
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com/.
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