Indian Drug Manufacturers Association Secretary General Touts Prospects (Asia)
This article was originally published in PharmAsia News
Executive Summary
Indian Drug Manufacturers Association (IDMA) secretary general Daara Patel says Asia's pharmaceutical industry is expanding, with especial strength in China and India, and with strong investment backing from global companies. India itself is well positioned to take advantage of the downward pressure on pharmaceutical prices because India's domestic industry can supply high-quality affordable drugs and active pharmaceutical ingredients to global markets. Patel predicts that Asia's overall pharmaceutical market will surpass the markets in the United States and Europe in the next few years. Japan and India also will soon be developing a steady pipeline of innovative drugs, he predicts. Today Korea, Singapore, and India-based scientists are pioneering new research in stem cells and therapeutic cloning. Asian companies looking to develop new drugs will have to look for larger partners, just like U.S. biotechnology start-ups usually partner with capital-rich corporations for clinical testing and market help. Patel says Asian pharmaceutical companies have a global advantage because they can "retain their cost advantage while matching the quality standards of the West." However, he warns that cost advantage is not enough, and that "a favorable regulatory environment that assures compliance with global norms are the other two legs underpinning success." (Click here for more
You may also be interested in...
US Q1 Consumer Health Earnings Preview: Label This One Historic And Challenging But Promising
US OTC drug and supplement firms’ reports of results for the first three months of 2024 began on April 19 with P&G. JP Morgan analysts say while “some retailers in the US in particular” are reducing consumer health inventories, for the overall sector they expect “a healthier balance of positive volume and lower pricing contribution.”
Keeping Track: Cancer Approvals From Lumisight Imaging To Adjuvant Alecensa
The US FDA’s approval of Lumicell’s optical imaging agent Lumisight makes a dozen novel approvals in 2024 for the Center for Drug Evaluation and Research.
Partisan Politics Returns To US FDA Congressional Oversight
The US FDA has stood out as an agency that tends to draw broad bipartisan support amid a generally rancorous and divided Congress. A House hearing, however, may be a sign that those days are over.