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Kick-Starting R&D in India: Challenges and Opportunities
Decision Resources, Inc, Sep 2007, Pages: 23
India’s pharmaceutical market—one of the most developed among emerging nations—has grown healthily over the past seven years. A change in the wealth, living standards, and demographics of the 1 billion people living in India has resulted in an increased demand for medicines. Now, Western manufacturers are hoping to tap into this lucrative market.
The benefits afforded by India’s significant cost-savings opportunities and highly skilled work force, however, are tempered by the challenges of largely untested patent regulations. Still, Indian firms can offer Western firms knowledge of strategies to defend patents—a benefit that has begun to persuade Western pharmaceutical companies to ally with their Indian counterparts. Meanwhile, India’s desire to expand their reach beyond merely producing small-molecule generics and into the production of biosimilars has motivated Indian companies to form alliances with Western firms in order to kick-start R&D.
Get the Answers You Need to Shape Your Strategy
- The Indian pharmaceutical market has undergone strong growth from 2000 to 2006. This market is predicted to continue its rise, with sales reaching $9.5 billion by 2010. What is the greatest challenge facing foreign manufacturers looking to tap into India’s growth? Which therapeutic areas are likely to enjoy success in India? What aspect of India’s demographics will likely create opportunities for drugs enjoying success in Western markets?
- Western manufacturers are eager to exploit India’s labour resources and cost-saving measures. However, manufacturers would be wise to wait to apply for patents for blockbuster drugs until a clearer strategy for defending patents emerges from the Indian court system. Which current pharmaceutical patent battle is being closely monitored as a litmus test of Indian courts’ preparedness to uphold pharmaceutical patents?
- Biotech drugs and biogenerics offer great potential to Indian pharmaceutical companies, which have traditionally relied on manufacturing generics. Which large Indian firm has recently ramped up production of biogenerics and is already producing biogeneric equivalents of two patented drugs?
- M&A activity by Indian pharmaceutical firms has increased significantly in response to new market realities. Many top Indian firms are expanding overseas and entering markets in the United States, Europe, Japan, Eastern Europe, and Africa. What major deals have Indian pharmaceutical companies recently entered into, and which Indian companies are major players in the M&A arena?
- Ranbaxy has the most diversifi ed geographic mix among India’s pharmaceutical fi rms, with a presence in the United States, Europe, and the “BRIC” economies of Brazil, Russia, India, and China. What growth strategy has Ranbaxy pursued, allowing it to attain its international presence? What event earlier this year will permit Ranbaxy to make its fi rst leap into becoming an R&D-based company?
Scope
- Overview: current size and challenges of the Indian pharmaceutical market; the growth and challenges of biotech; patent laws and intellectual property rights.
- Benefits and opportunities: growth opportunities; cost savings opportunities; clinical trial advantages; work force advantages.
- Growth strategies of Indian pharmaceutical companies: the production of generics vs. the production of new, patented drugs; supplying contract work to foreign companies; initial moves into biotech; mergers, acquisitions, licensing deals, and joint ventures.
- Outlook: kick-starting the development of patent-protected products; renewed faith in patent protection; the promise of the alliance between Ranbaxy and GlaxoSmithKline; ramp-up for the production of biogenerics; the looming threat of China.
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