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
India has imposed anti-dumping duty on import of ?Ofloxacin from China. The duty on import of ?Ofloxacin? from China will be in the range of $2.58 to $9.48 per kg for three years, said a notification issued by the Revenue Department in the Finance Ministry. The levy has been slapped following the recommendations of the Directorate General of Anti-Dumping and Allied Duties (DGAD). Ofloxacin is used to treat certain infections, including bronchitis, pneumonia and infections of the skin, bladder, urinary tract, reproductive organs, and prostate (a male reproductive gland). Read More
The Indian Council of Medical Research (ICMR) and Pfizer are setting up a centre to address the growing threat of antimicrobial resistance in India. The ?Centre to Combat Antimicrobial Resistance? will come up in New Delhi . Pfizer will provide an initial grant of Rs. 67 million. The joint initiative will implement comprehensive interventions, ranging from antimicrobial resistance (AMR) stewardship programmes for nursing homes to scaling up of the ongoing AMR surveillance network and creating awareness around responsible use of antibiotics. Read More