Published on January 27, 2014

The year 2013 saw copious import alerts, red flag, etc. on major pharma industries by USFDA which had significantly hammered their stocks. In compare to the other sectors, Indian pharma has been badly hit by the retaliatory measures from the supervisory body. In the recent move, major Indian pharma industry – Ranbaxy had faced fresh trouble by USFDA on its Toansa plant based in Punjab and has ban the company from manufacturing and distributing drugs for the US market.

According to Pharma Industry experts, the industry had got unused prospects where generics had not yet come in and the biggest advantage of Indian industries were the cost factor which really helped them to compete with US companies. Over a period of last 10 years, Indian companies had established themselves into US market as a reliable supplier and as per pharma industry experts this will bring in lot of opportunities for pharma sector in near future.

Due to new pricing policy, domestic business have actually been difficult for most of the pharma industries and according to the market players, it is expected that by April–May pharma sector will see higher growth rate into double digits. Industry players will continue to spend about 7% of turnover on R&D to create a basket of innovation based products and use of chemicals for R&D of Pharma products will increase the demand of chemicals in the industry.