Indian pharmaceuticals market is the third largest in the world in terms of volume. In terms of value it is ranked 13 in the world. It has the largest no. of FDA approved plants (around 500+) outside USA. The industry is expected to grow at 20% over the next 5 years. Currently, the industry is growing at 10-11%.
India made a turnaround after patents regime, by focussing on reverse engineering new process and to manufacture the same at low cost. India is still to become a player in terms of drug innovation.
The Government of India has unveiled 'Pharma Vision 2020' in 2013, to make India a global leader in drug manufacturing. It has reduced approval time for new facilities to boost investments. Further, the government has also put in place mechanisms such as the Drug Read More
Maharashtra Food and Drug Administration (FDA) is planning to set up a microbiological testing lab at Mumbai. The lab will be set up with an investment of Rs. 45 million and will have facilities to test 100 samples in a day and detect pathogenic organisms in drugs. The lab will cater to global regulatory requirements and will test for pathogens, disinfection efficacy etc., Read More
Central government of India intends to make amendments in Drug and Cosmetics Act to facilitate online sales of pharmaceutical products or epharmacy. Now, e-pharmacy registration can happen through Form 18AA through the online portal of the Central government along with a fee of Rs. 50,000 and the registration will be valid for a period of three years.
The amendment also seeks to bring put in place a facility for customer support and grievance redressal of all stakeholders which shall run not less than 12 hours for all seven days of a week. It also restricts e-pharmacies to advertise any pharma products. Besides, it also prohibits under the categories of the narcotic and psychotropic as referred to in the Narcotic Drugs and Psychotropic Substances Act, 1985, tranquilizers an Read More