‘Indian pharma industry can improve share in global market’

The Indian pharmaceutical companies are already lining up the US FDA office to get patent on the first-to-file basis of the drugs which will get off-patented in 2012. With cost advantage and highly skilled manpower on their side,the Indian pharma industry is poised to grow further.

Patel added,“If they want to capitalise on the international market they must adopt automation,as their sales per employee is far below than their peers abroad.”

The size of US drug market is $ 360 billion,which is 45 per cent of the global market and US population is quite lower than that of India.

Dr Varma Rudraraju,president and CEO of Aizant,said: “For global generic markets,Indian companies can opt for 505 (b) (2) alternatives,which permit companies to obtain US FDA approval of new drug application (NDA) by relying,in part,on the agency’s findings on previously approved drug. This can save a lot of money and time spent on developing new drugs.”

Cosmetics and nutraceuticals are the other areas offering good opportunities to the pharma companies,he added.

“Indian market for cosmetics in 2008 was around Rs 712 crore,which is expected to touch Rs 1,514 crore in 2012,” he further said.

Similarly,he said,“Market for nutraceuticals was Rs 1,875 crore in 2007,which is likely to touch at Rs 2,700 crore in 2012. Biologics,personalised medicine and gene therapy are the other segments,which can be explored by these companies.”