For complete information about the report, please visit our website
https://www.reportscorner.com/reports/15826/Pharmaceutical-Market:-India-A-Comprehensive-Industry-Analysis/
1.0 Summary
"Pharmaceutical Market: India, A Competitive Industry Analysis" by Kelly Scientific Publications is a comprehensive report on the pharmaceutical and biotechnology industry in India and its impact on international markets. This report scrutinises top Indian pharmacos and their battle within domestic and international therapeutic markets. The business environment in which they compete is analysed as are key drivers, constraints, challenges and opportunities.
The Indian pharmaceutical market is set to become the eight largest pharma market globally by 2015. In 2012 it was worth $13 billion. It is forecast to reach $50 billion by 2015 and increase its dominance as a leading player in Asia. It is predicted that the Indian pharma market will be a significant global competitor by 2020 with an expected worth of up to $74 billion.
This report describes the current therapeutics that are propelling the biopharmaceutical market in India. It examines the current economic climate and how India compares to other emerging markets and also evolved markets such as the US and Europe. Current developments relating to patent expirations, government funding, and regulations are discussed. The emerging trends that appear in key sub-markets such as generics, oncology, cardiovascular, diabetes and vaccines are elucidated and analysed.
This study reveals market figures of the overall Indian pharmaceutical market and sub-markets. Forecast projections and future growth rates are provided to give the reader a forthcoming perspective of this growing industry.
The study also provides a comprehensive financial and product review of key players in the biopharmaceutical industry in India. Strategic drivers and restraints of this market are revealed and market opportunities and challenges are identified.
In summary, the Indian biopharmaceutical market has huge opportunities for growth. This industry will significantly affect the international healthcare market and has enormous potential for investment.
1.1 Objectives of Report
The main objectives of this report are:
• To comprehensively summarize current developments in the Indian biopharmaceutical industry.
• To identify emerging trends in key markets and sub-markets such as biogenerics, cardiology, oncology therapeutics, diabetic care, vaccines and anti-infective agents.
• To comprehensive review and analyse financial and product details of key players in the industry
• To present market figures of the current Indian biopharmaceutical market value and give forecast projections and growth rates
• To identify key drivers and restraints of the Indian biopharmaceutical market
• To report and analyse market opportunities and challenges
• To identify funding and government sponsorship issues
The reader of this report will gain:
• An in-depth understanding of the Indian biopharmaceutical market and it’s environment
• Current market facts, figures and product lines of key players in the industry
• An insight into how generic therapeutics will propagate the Indian biopharmaceutical market
• Knowledge of how the Indian biopharma market will integrate into the global healthcare market
• Information on key government policies
• Data on levels of private and publically funded biopharma studies in India
• Strategies on how to adapt and restructure current business models to this industry
1.2 Scope of Study
The Indian pharmaceutical market is the main driver of the country’s healthcare industry The Indian Pharmaceutical Industry (IPI) is divided into four main sectors:
• Active Pharmaceutical Ingredients (APIs)
• Contract Research and Manufacturing Services (CRAMS)
• Formulations
• Biosimilars
The study provides a comprehensive description of current companies with an interest in the Indian market and their financial and product portfolios. This paper also identifies key therapeutics that are driving the biopharma market in India and current restraints and challenges that may weaken this emerging industry.
1.3 Data Sources and Methodology
The project leader and author of this research obtained a Ph.D. in Medicine from the Royal College of Surgeons in Ireland, following completion of a M.Sc. in Biotechnology (NUIG) and an honours degree in Biochemistry from Trinity College Dublin. She has extensive experience in drug target discovery and vaccine research and development and conducted post-doctoral studies and lecturing in Trinity College Dublin. The author’s career spans both industry and academia where she has worked with both start up biotech and multinational pharmaceutical companies. With many years of medical writing and publishing the author also has extensive experience and knowledge of genetics, molecular biology, immunology, bioinformatics and diagnostic testing. As a pharma/biotech industry analyst she has significant expertise in laboratory diagnostic testing and instrument and reagent development technology.
Sources of information for this report were collected and compiled from company specific corporate websites, annual reports, press-releases, international scientific and medical journals and news and research reports. Graphical and numerical data have been referenced and sourced accordingly. Specific websites were consulted and referenced throughout the completion of this report including that of the World Health Organization (www.who.int) and European Medicines Agency (www.ema.europa.eu). Financial and business environment sources such as the World Trade Organization (www.WTO.org) and the International Monetary Fund (www.IMF.org) and other government agencies worldwide were also accessed. Kelly Scientific Publications has used the most recent statistical and numerical data available. The most reliable of data sources were used in the production of this report, however we cannot guarantee complete accuracy or completeness from secondary information sources.
1.4 Key Findings and Observations
In 2012 the Indian pharmaceutical market was worth $13 billion and is forecast to become the eight largest pharma market globally by 2015. It is a significant player in emerging markets. This growth fuelled by the significant level of chronic disease in the country which is estimated at 20% of the population. Over 50% of deaths are due to chronic diseases such as cancer, cardiovascular disease and diabetes in India. Therefore a market shift from acute therapeutics to chronic medications will occur in the coming years. Vaccine production and generic drug manufacturing are key products for the Indian market and Kelly Scientific Publications predict that international markets will be significantly penetrated with these products in the near future.
The government in India has identified biotechnology as a key area of growth and to that end has provided significant funding for opportunities within this area. India’s Twelfth Five Year Plan (12th 5YP) will function to increase private investment in R&D and international collaborations. The overall aim is to position India as one of the top five scientific superpowers by 2020.
The Indian pharma market is fragmented and up to 40% of it is dominated by a small number of players including Cipla, GSK, Sun Pharma, Ranbaxy and Piramal. The IPM is divided into four key areas - active pharmaceutical ingredients (APIs), contract research and manufacturing services (CRAMS), formulations and biosimilars. The market is currently controlled by acute therapy which demanded 73% of total in 2012. This is forecast to decrease over the coming years as lifestyle and chronic disease increase further in prevalence.
1.5 Executive Summary
Today, India is the second largest country and is populated by more than 1.2 billion. By 2050, it is estimated that the population will have grown to between 1.6-1.8 billion and so key investments and strategies to exploit this growing market is paramount. India’s potential as a key player in the pharma market is significant.
The population of India over 60 years old is forecast to reach 300 million by 2050. This is a 17% increase from 77 million in 2001. Noncommunicable diseases (NCDs) such as heart disease, stroke, cancer, chronic respiratory disease, diabetes, mental health issues, vision and hearing difficulties will all increase in incidence with this population growth and put pressure on health services. According to the World Health Organisation (WHO), 80% of adult deaths are due to NCDs in urban centres and 60% of deaths in rural areas.
Over 20% of the Indian population are currently suffering from a chronic disease and 10% have comorbidities. Chronic diseases cause 50% of all deaths in India. Infectious and parasitic diseases are a significant contributor, as are cardiovascular diseases, respiratory conditions, cancer and diabetes. According to a study by Patel et al in The Lancet, almost 75% of all deaths in India will be due to a chronic disease in 2030.
• Cancer fatalities will rise from 730,000 in 2004 to 1.5 million in 2030.
• Cardiovascular deaths will increase from 2.7 million in 2004 to 4 million in 2030.
• Coronary heart disease deaths will increase from 7.1 million in 2004 to 17.9 million in 2030.
Today, the top causes of mortality in India are:
• Cardiovascular diseases
• Cancers
• Chronic Respiratory Disease
• Respiratory infections
• Perinatal Conditions
• Diarrhoeal diseases
• Digestive diseases
• HIV/AIDS
• Tuberculosis
India’s Twelfth Five Year Plan (12th 5YP) aims to increase funding for six areas of scientific research and development until 2017. An investment of INR 1,204 billion (US $24 billion) will increase Indian R&D and boost its credibility internationally. The plan also proposes to increase the output of scientific papers from 3% globally in 2012 to 5% in 2017. Biotechnology will receive significant funding and the following areas will expand over the coming years:
• Molecular and cell biology
• Structural biology
• Immunology
• Neurobiology
• Bioengineering
• Clinical and translational research
• Regulatory sciences
• Intellectual Property (IP) technology transfer
• Nanotechnology
• Nanotechnology
The Indian Pharmaceutical market (IPM) is one of the most important emerging pharma markets and in 2012 was worth $13 billion. It is forecast to increase dramatically to $74 billion by 2020 and increase its dominance as a leading player in Asia.
The IPM is a significant driver of the domestic healthcare industry and is divided into four main sections:
• Active Pharmaceutical Ingredients (APIs)
• Contract Research and Manufacturing Services (CRAMS)
• Formulations
• Biosimilars
Almost $30 billion of Indian pharmaceutical products were exported during 2011-2012 and this is expected to hit $50 billion by 2015. The majority of exports are bulk drugs (including APIs) which contribute over 50% share. Currently, Indian bulk drug exports demand 9% of the global bulk drug market. India mainly exports to the US, which received 27% of exported APIs in 2012. This was followed by the EU (19%) and Africa (17%).
The Indian formulations market exported $8 billion during 2011-2012 and is set to reach $14 billion by 2015. The domestic formulation market consumes 80% of product manufactured and was worth
Almost $11 billion in 2012. This will rise to $16 billion by 2015.
Currently the Indian biosimilar market share is low at 3% of the global market ($1 billion). However between 2013-2015 it is forecast to grow strongly and demand 20-25% of the global biosimilar market. By 2015, the global biosimilar market is expected to reach $10 billion.
The Indian Contract Research and Manufacturing Service (CRAMS) industry is currently worth $7.6 billion. It is divided into manufacturing and research, with manufacturing services accounting for just over 60% of Indian business. Between 2010 and 2012, the Indian CRAMS industry grew by 41% due to a large increase in outsourcing. This growth rate is triple the global average of growth rate of 12.6%. By 2015, it is forecast that the CRAMS industry in India will hit $7.8-8 billion, fuelled by the impending patent cliff and high requirement for generic manufacturing, biologics, and drug delivery technologies.
The Indian pharma market is fragmented and up to 40% of it is dominated by a small number of players including:
• Cipla
• GSK
• Sun Pharma
• Ranbaxy
• Piramal
• Zydus Cadila
• Mankind
• Lupin
Over the next number of years, it is expected that the IPM will continue to grow to as much as $74 billion by 2020 with a CAGR of between 14-16%. Therefore by 2020, the IPM will be comparable to other developed pharma markets (excluding the US and Japan) and also to the Chinese pharma market. Significant economic indicators that will propel the IPM in the near future include:
• India is one of the fastest growing economies globally with a 16% growth increase in its pharmaceutical market 2012
• India’s sovereign credit rating rose by 2.98% during the period 2007-12
• Cumulative exports recorded during 2011-12 were $242 billion - a growth of 23%
• Imports in 2011-12 at $391 billion – a growth of 29%
The Indian pharma market is currently dominated by the acute therapy market which demanded 73% of total in 2012. This is forecast to decrease over the coming years as lifestyle and chronic disease increase further in prevalence. In 2012, the anti-infectives market held the premier position within the IPM, with 16.1% share. The following therapeutic areas all hold significant market share within the IPM:
• Anti-infectives
• Cardiac
• Gastro Intestinal
• Respiratory
• Pain/Analgesics
• Vitamins/Minerals/Nutrients
• Anti-Diabetic
• Neuro/CNS
• Dermatology
• Gynaecology
Kelly Scientific Publications believes that chronic markets such as cardiovascular, diabetes and neurology/psychiatry will all contribute to market penetration within the next five years and will maintain a fast growth rate. A shift towards disease management and prevention will steadily cause a shift in the Indian pharma market from acute to chronic areas.
India’s Twelfth Five Year Plan (12th 5YP) aims to increase funding for six areas of scientific research and development until 2017. The Indian Government has proposed an investment of INR 1,204 billion (US $24 billion) to strategically increase the number of PhD graduates, researchers and essentially boost international recognition for Indian R&D.
The12th 5YP also proposes to increase the output of scientific papers from 3% globally in 2012 to 5% in 2017. The overall aim is to position India as one of the top five scientific superpowers by 2020. In order to do this information gathered from R&D must be commercialized and current pharma/biotech companies situated in India must increase their interests in R&D. By 2017, it is envisaged that the ratio of private : public share of investments is 50:50.
This report highlights a number of significant Indian pharmacos and gives details of their operations, products, financials and business strategy. The following companies were chosen for analysis as they have specific advantages that we believe will drive the pharmaceutical industry in India.
• Aurobindo Pharma
• Bharat Serums and Vaccines Ltd
• Biocon Biopharmaceuticals
• Cipla
• Divis Laboratories
• Dr Reddy’s Laboratories
• Lupin
• Mankind Pharma
• Panacea Biotech
• Piramal Group
• Ranbaxy Laboratories
• Reliance Life Sciences
• Serum Institute of India
• Sun Pharmaceuticals
https://www.reportscorner.com/reports/15826/Pharmaceutical-Market:-India-A-Comprehensive-Industry-Analysis/
1.0 Summary
"Pharmaceutical Market: India, A Competitive Industry Analysis" by Kelly Scientific Publications is a comprehensive report on the pharmaceutical and biotechnology industry in India and its impact on international markets. This report scrutinises top Indian pharmacos and their battle within domestic and international therapeutic markets. The business environment in which they compete is analysed as are key drivers, constraints, challenges and opportunities.
The Indian pharmaceutical market is set to become the eight largest pharma market globally by 2015. In 2012 it was worth $13 billion. It is forecast to reach $50 billion by 2015 and increase its dominance as a leading player in Asia. It is predicted that the Indian pharma market will be a significant global competitor by 2020 with an expected worth of up to $74 billion.
This report describes the current therapeutics that are propelling the biopharmaceutical market in India. It examines the current economic climate and how India compares to other emerging markets and also evolved markets such as the US and Europe. Current developments relating to patent expirations, government funding, and regulations are discussed. The emerging trends that appear in key sub-markets such as generics, oncology, cardiovascular, diabetes and vaccines are elucidated and analysed.
This study reveals market figures of the overall Indian pharmaceutical market and sub-markets. Forecast projections and future growth rates are provided to give the reader a forthcoming perspective of this growing industry.
The study also provides a comprehensive financial and product review of key players in the biopharmaceutical industry in India. Strategic drivers and restraints of this market are revealed and market opportunities and challenges are identified.
In summary, the Indian biopharmaceutical market has huge opportunities for growth. This industry will significantly affect the international healthcare market and has enormous potential for investment.
1.1 Objectives of Report
The main objectives of this report are:
• To comprehensively summarize current developments in the Indian biopharmaceutical industry.
• To identify emerging trends in key markets and sub-markets such as biogenerics, cardiology, oncology therapeutics, diabetic care, vaccines and anti-infective agents.
• To comprehensive review and analyse financial and product details of key players in the industry
• To present market figures of the current Indian biopharmaceutical market value and give forecast projections and growth rates
• To identify key drivers and restraints of the Indian biopharmaceutical market
• To report and analyse market opportunities and challenges
• To identify funding and government sponsorship issues
The reader of this report will gain:
• An in-depth understanding of the Indian biopharmaceutical market and it’s environment
• Current market facts, figures and product lines of key players in the industry
• An insight into how generic therapeutics will propagate the Indian biopharmaceutical market
• Knowledge of how the Indian biopharma market will integrate into the global healthcare market
• Information on key government policies
• Data on levels of private and publically funded biopharma studies in India
• Strategies on how to adapt and restructure current business models to this industry
1.2 Scope of Study
The Indian pharmaceutical market is the main driver of the country’s healthcare industry The Indian Pharmaceutical Industry (IPI) is divided into four main sectors:
• Active Pharmaceutical Ingredients (APIs)
• Contract Research and Manufacturing Services (CRAMS)
• Formulations
• Biosimilars
The study provides a comprehensive description of current companies with an interest in the Indian market and their financial and product portfolios. This paper also identifies key therapeutics that are driving the biopharma market in India and current restraints and challenges that may weaken this emerging industry.
1.3 Data Sources and Methodology
The project leader and author of this research obtained a Ph.D. in Medicine from the Royal College of Surgeons in Ireland, following completion of a M.Sc. in Biotechnology (NUIG) and an honours degree in Biochemistry from Trinity College Dublin. She has extensive experience in drug target discovery and vaccine research and development and conducted post-doctoral studies and lecturing in Trinity College Dublin. The author’s career spans both industry and academia where she has worked with both start up biotech and multinational pharmaceutical companies. With many years of medical writing and publishing the author also has extensive experience and knowledge of genetics, molecular biology, immunology, bioinformatics and diagnostic testing. As a pharma/biotech industry analyst she has significant expertise in laboratory diagnostic testing and instrument and reagent development technology.
Sources of information for this report were collected and compiled from company specific corporate websites, annual reports, press-releases, international scientific and medical journals and news and research reports. Graphical and numerical data have been referenced and sourced accordingly. Specific websites were consulted and referenced throughout the completion of this report including that of the World Health Organization (www.who.int) and European Medicines Agency (www.ema.europa.eu). Financial and business environment sources such as the World Trade Organization (www.WTO.org) and the International Monetary Fund (www.IMF.org) and other government agencies worldwide were also accessed. Kelly Scientific Publications has used the most recent statistical and numerical data available. The most reliable of data sources were used in the production of this report, however we cannot guarantee complete accuracy or completeness from secondary information sources.
1.4 Key Findings and Observations
In 2012 the Indian pharmaceutical market was worth $13 billion and is forecast to become the eight largest pharma market globally by 2015. It is a significant player in emerging markets. This growth fuelled by the significant level of chronic disease in the country which is estimated at 20% of the population. Over 50% of deaths are due to chronic diseases such as cancer, cardiovascular disease and diabetes in India. Therefore a market shift from acute therapeutics to chronic medications will occur in the coming years. Vaccine production and generic drug manufacturing are key products for the Indian market and Kelly Scientific Publications predict that international markets will be significantly penetrated with these products in the near future.
The government in India has identified biotechnology as a key area of growth and to that end has provided significant funding for opportunities within this area. India’s Twelfth Five Year Plan (12th 5YP) will function to increase private investment in R&D and international collaborations. The overall aim is to position India as one of the top five scientific superpowers by 2020.
The Indian pharma market is fragmented and up to 40% of it is dominated by a small number of players including Cipla, GSK, Sun Pharma, Ranbaxy and Piramal. The IPM is divided into four key areas - active pharmaceutical ingredients (APIs), contract research and manufacturing services (CRAMS), formulations and biosimilars. The market is currently controlled by acute therapy which demanded 73% of total in 2012. This is forecast to decrease over the coming years as lifestyle and chronic disease increase further in prevalence.
1.5 Executive Summary
Today, India is the second largest country and is populated by more than 1.2 billion. By 2050, it is estimated that the population will have grown to between 1.6-1.8 billion and so key investments and strategies to exploit this growing market is paramount. India’s potential as a key player in the pharma market is significant.
The population of India over 60 years old is forecast to reach 300 million by 2050. This is a 17% increase from 77 million in 2001. Noncommunicable diseases (NCDs) such as heart disease, stroke, cancer, chronic respiratory disease, diabetes, mental health issues, vision and hearing difficulties will all increase in incidence with this population growth and put pressure on health services. According to the World Health Organisation (WHO), 80% of adult deaths are due to NCDs in urban centres and 60% of deaths in rural areas.
Over 20% of the Indian population are currently suffering from a chronic disease and 10% have comorbidities. Chronic diseases cause 50% of all deaths in India. Infectious and parasitic diseases are a significant contributor, as are cardiovascular diseases, respiratory conditions, cancer and diabetes. According to a study by Patel et al in The Lancet, almost 75% of all deaths in India will be due to a chronic disease in 2030.
• Cancer fatalities will rise from 730,000 in 2004 to 1.5 million in 2030.
• Cardiovascular deaths will increase from 2.7 million in 2004 to 4 million in 2030.
• Coronary heart disease deaths will increase from 7.1 million in 2004 to 17.9 million in 2030.
Today, the top causes of mortality in India are:
• Cardiovascular diseases
• Cancers
• Chronic Respiratory Disease
• Respiratory infections
• Perinatal Conditions
• Diarrhoeal diseases
• Digestive diseases
• HIV/AIDS
• Tuberculosis
India’s Twelfth Five Year Plan (12th 5YP) aims to increase funding for six areas of scientific research and development until 2017. An investment of INR 1,204 billion (US $24 billion) will increase Indian R&D and boost its credibility internationally. The plan also proposes to increase the output of scientific papers from 3% globally in 2012 to 5% in 2017. Biotechnology will receive significant funding and the following areas will expand over the coming years:
• Molecular and cell biology
• Structural biology
• Immunology
• Neurobiology
• Bioengineering
• Clinical and translational research
• Regulatory sciences
• Intellectual Property (IP) technology transfer
• Nanotechnology
• Nanotechnology
The Indian Pharmaceutical market (IPM) is one of the most important emerging pharma markets and in 2012 was worth $13 billion. It is forecast to increase dramatically to $74 billion by 2020 and increase its dominance as a leading player in Asia.
The IPM is a significant driver of the domestic healthcare industry and is divided into four main sections:
• Active Pharmaceutical Ingredients (APIs)
• Contract Research and Manufacturing Services (CRAMS)
• Formulations
• Biosimilars
Almost $30 billion of Indian pharmaceutical products were exported during 2011-2012 and this is expected to hit $50 billion by 2015. The majority of exports are bulk drugs (including APIs) which contribute over 50% share. Currently, Indian bulk drug exports demand 9% of the global bulk drug market. India mainly exports to the US, which received 27% of exported APIs in 2012. This was followed by the EU (19%) and Africa (17%).
The Indian formulations market exported $8 billion during 2011-2012 and is set to reach $14 billion by 2015. The domestic formulation market consumes 80% of product manufactured and was worth
Almost $11 billion in 2012. This will rise to $16 billion by 2015.
Currently the Indian biosimilar market share is low at 3% of the global market ($1 billion). However between 2013-2015 it is forecast to grow strongly and demand 20-25% of the global biosimilar market. By 2015, the global biosimilar market is expected to reach $10 billion.
The Indian Contract Research and Manufacturing Service (CRAMS) industry is currently worth $7.6 billion. It is divided into manufacturing and research, with manufacturing services accounting for just over 60% of Indian business. Between 2010 and 2012, the Indian CRAMS industry grew by 41% due to a large increase in outsourcing. This growth rate is triple the global average of growth rate of 12.6%. By 2015, it is forecast that the CRAMS industry in India will hit $7.8-8 billion, fuelled by the impending patent cliff and high requirement for generic manufacturing, biologics, and drug delivery technologies.
The Indian pharma market is fragmented and up to 40% of it is dominated by a small number of players including:
• Cipla
• GSK
• Sun Pharma
• Ranbaxy
• Piramal
• Zydus Cadila
• Mankind
• Lupin
Over the next number of years, it is expected that the IPM will continue to grow to as much as $74 billion by 2020 with a CAGR of between 14-16%. Therefore by 2020, the IPM will be comparable to other developed pharma markets (excluding the US and Japan) and also to the Chinese pharma market. Significant economic indicators that will propel the IPM in the near future include:
• India is one of the fastest growing economies globally with a 16% growth increase in its pharmaceutical market 2012
• India’s sovereign credit rating rose by 2.98% during the period 2007-12
• Cumulative exports recorded during 2011-12 were $242 billion - a growth of 23%
• Imports in 2011-12 at $391 billion – a growth of 29%
The Indian pharma market is currently dominated by the acute therapy market which demanded 73% of total in 2012. This is forecast to decrease over the coming years as lifestyle and chronic disease increase further in prevalence. In 2012, the anti-infectives market held the premier position within the IPM, with 16.1% share. The following therapeutic areas all hold significant market share within the IPM:
• Anti-infectives
• Cardiac
• Gastro Intestinal
• Respiratory
• Pain/Analgesics
• Vitamins/Minerals/Nutrients
• Anti-Diabetic
• Neuro/CNS
• Dermatology
• Gynaecology
Kelly Scientific Publications believes that chronic markets such as cardiovascular, diabetes and neurology/psychiatry will all contribute to market penetration within the next five years and will maintain a fast growth rate. A shift towards disease management and prevention will steadily cause a shift in the Indian pharma market from acute to chronic areas.
India’s Twelfth Five Year Plan (12th 5YP) aims to increase funding for six areas of scientific research and development until 2017. The Indian Government has proposed an investment of INR 1,204 billion (US $24 billion) to strategically increase the number of PhD graduates, researchers and essentially boost international recognition for Indian R&D.
The12th 5YP also proposes to increase the output of scientific papers from 3% globally in 2012 to 5% in 2017. The overall aim is to position India as one of the top five scientific superpowers by 2020. In order to do this information gathered from R&D must be commercialized and current pharma/biotech companies situated in India must increase their interests in R&D. By 2017, it is envisaged that the ratio of private : public share of investments is 50:50.
This report highlights a number of significant Indian pharmacos and gives details of their operations, products, financials and business strategy. The following companies were chosen for analysis as they have specific advantages that we believe will drive the pharmaceutical industry in India.
• Aurobindo Pharma
• Bharat Serums and Vaccines Ltd
• Biocon Biopharmaceuticals
• Cipla
• Divis Laboratories
• Dr Reddy’s Laboratories
• Lupin
• Mankind Pharma
• Panacea Biotech
• Piramal Group
• Ranbaxy Laboratories
• Reliance Life Sciences
• Serum Institute of India
• Sun Pharmaceuticals
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