Generic drugs and APIs push Indian pharma sector growth

The pharmaceutical industry in Indian achieved a significant growth of 13.44% during the 2004-09 period, due to strong internal demand and continuous focus in the global generics market and a significant share in the exports of Active Pharmaceuticals Ingredients (APIs), according to a new report added to the offering of Research and Markets.

The author estimates that the Indian pharmaceutical industry reached a value of $10.88 billion in 2008-09 and is likely to double to $20.95 billion in 2014. The investment in R&D, filling of a higher number of Abbreviated New Drug Applications (ANDAs) and Drug Master Files (DMFs) in a highly regulated market, mergers and acquisitions, in-licensing, skilled labor forces, a high standard scientific base and revenues from custom manufacturing and contract research (CRAMS) are expected to give the necessary edge to Indian drugmakers in the coming years.

Pharmaceutical exports in 2008-09 were valued at 394.59 billion rupees ($8.48 billion) compared to 302.73 billion rupees in 2007-08, thus growing at 30.34% higher than 2007-08.