Indian pharma companies forecast 30% growth in 2017 at CPhI India

In-depth research from over 400 Indian pharma companies, which forecasts rapid growth for the Indian pharma economy in 2017, was presented at CPhI and P-MEC India, part of India Pharma Week which closed yesterday.

Chief amongst the growth drivers reported are strong domestic sales in the next two-three years, generic active pharmaceutical ingredients (APIs) exports as well as finished formulation for developed markets.

The findings show that industry confidence is now extremely high, with domestic manufacturers bullish about near term revenue prospects, averaging a predicted 30.5% growth in 2017. An analysis by sector shows that, of the 400 companies, 60% believed that finished formulations would expand rapidly, while 42% see APIs as the largest growth area. Highlighting the economy’s diversity and willingness to incorporate new product classes, 25% of respondents regard biosimilars and biologics as a burgeoning sector in 2017, particularly following the updated Central Drugs Standard Control Organization (CDSCO) biosimilars guidelines.