Market Insight - Reshaping the role of India's pharmaceutical CFOs
This article was originally published in Scrip
The $12 billion Indian pharmaceutical industry is in the throes of tumultuous change characterised by high growth both in domestic and international business. While Indian generic companies are establishing themselves as significant players in the highly competitive but fast-growing global generics market, in both the regulated and semi-regulated markets, the domestic pharmaceutical industry is predicted to double its size from the current $7.8 billion over the next five years. This growth is driven by the healthcare boom riding on increasing health awareness, a highly under-serviced rural market, the burgeoning middle-class and emerging critical enablers in the form of health insurance. Another significant development is the increasing ambition of Indian players to develop capabilities in basic research, which requires significant investment and is fraught with risk.