Indian pharma companies shifting to innovation

26 February 2020

Several changes in the marketplace has necessitated that Indian companies proactively shift their business models from supplying commodities to supplying innovations.

Though life sciences companies in India have started taking small, experimental steps, a whitepaper from consulting firm EY states that though the potential is huge, activities are currently fragmented across the value chain, reports The Pharma Letter’s India correspondent.

While the Indian pharma and biotech industry is expected to increase to $100 billion from the current $40 billion, expanding at 10% compound annual growth rate (CAG by 2025 - notwithstanding the recent Coronavirus outbreak - the Indian government is looking to support the life sciences industry further by granting quick patent approvals.

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