India is Emerging as the Global Hub for CRAMs (India)
This article was originally published in PharmAsia News
Executive Summary
India's pharmaceutical industry is characterized by expansion in research-and-development activities, rising product penetration into regulated markets, and by a widening array of products, says Indoco Remedies Chairman Suresh G. Kare. Kare says India's low-cost, high-standard pharmaceutical services are making India a center for contract research and manufacturing services (CRAMs) worldwide. He sees India's pharmaceutical market generating a total of $30 billion annually by 2010. Indoco specializes in manufacturing and marketing finished pharmaceutical products and active ingredients for regulated markets. Kare says global pharmaceutical companies are facing increasing research-and-development cost combined with falling productivity, and this is driving business to India and China. In terms of high standards, Kare notes that "India has the highest number of manufacturing plants approved by the U.S. FDA, in fact second only to the U.S." He adds that "the introduction of product patent in India has brought about some fundamental changes in strategies of the pharmaceutical companies, with focus shifting more towards R&D." (Click here for more