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India Pharmaceuticals and Healthcare Report Q2 2008
Business Monitor International, March 2008, Pages: 101
The India Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Indias pharmaceuticals and healthcare industry.
BMI’s regional Business Environment Rankings table for Q2 208 once again ranks India as a moderately attractive proposition to multinational pharmaceutical companies operating in the Asia Pacific. Along with Malaysia, India is placed at a joint eighth position.. While its market size and annual growth indicators are viewed as some of the key attractions, India still suffers from the disadvantage of excessive red tape, an underdeveloped infrastructure, deficiency of legal framework, low per capita spending, and a large rural and poor population.
In addition, deficiencies in regulatory, intellectual property (IP) and pricing environments remain as barriers to investment. The Indian generic companies are defending themselves from costly patent litigation from a number of prominent multinationals, including Novartis and Roche. The latter, which filed a patent infringement suit against Cipla in January 2008, is in fact already involved in a patent suit with Ranbaxy Laboratories. On the other hand, a December 2007 decision by the Mumbai office to grant patent to Pfizer’s HIV/AIDS treatment Celzentry (maraviroc) represents a major turn-around in favour of the multinationals. While
Pfizer will be able to sell its product for treatment without the damaging effects of generic competition, revenues from the drug are not expected to be decisive for the company due to its high cost and the pathological tests required prior use. In the last decade, various Indian patent offices have turned down no less than 10 antiretroviral patent applications.
By 2012, the value of the India’s pharmaceutical market is expected to reach an impressive US$17.8bn mark, an increase from the current figure of US$12.2bn. Clearly, the market allows plenty of commercial opportunities. However, industry consolidation around a handful of large domestic players would squeeze smaller companies. Indeed, industry leaders, including Ranbaxy and Dr Reddys Laboratories, have continued to be active in early 2008. The latter launched a non-steroidal anti-inflammatory drug (NSAID) Supanac (diclofenac potassium). Supanac, in-licensed from Swiss Applied Pharma Research (APR), targets the US$688mn NSAID market, with two other leading NSAID brands produced by Dr Reddy’s, namely Nise (nimesulide) and Retoz (etoricoxib). Similarly, the domestic active pharmaceutical ingredient (API) industry is showing signs of expansion. In January 2008, Indian firm Dishman Pharmaceuticals and Chemicals reported its plan to build an API plant in China, in an effort to further penetrate the rapidly expanding contract research and manufacturing services (CRAMS) market. In the same month, Israeli generics giant Teva revealed its intention to strengthen its presence in Asia by specifically choosing India for API production. India, which already has over 200 good manufacturing practice (GMP) facilities, the highest number outside the US, is posing a strong challenge to China as the largest global API supplier.
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