The Parliamentary Standing Committee on Chemicals and Fertilisers
assessed that the research and development in the Indian pharma industry
was picking up and at least 10 to 12 leading companies are into new
drug discovery now.
Some of them have increased their R&D
spending to four to 10 per cent of their turnover compared to the mere
average of just 2 per cent earlier. The drug and pharmaceuticals
industry as a whole has the potential to grow manifold and contribute
significantly to the global drug requirements, particularly in the
generic segment, according to the presentations made at a meeting of the
panel.
The committee also took views of officials and
stakeholders on the subject of ‘National Policy on Petrochemicals
vis-a-vis Growth of Petrochemical Industries,’ apart from assessing the
health of public sector and private sector pharma industries.
“It
is gathered that a few products are expected to go for clinical trials
in the next few years in the areas of anti-infective, anti-cancer and
lifestyle segments. With the application of product patents in case of
pharmaceuticals, the confidence levels of Western pharma companies
towards India for contract R&D work is going up. While Indian
companies by themselves are also conducting clinical trials in India,
due to availability of upgraded infrastructural facilities, the country
is becoming a hub for trials for the MNCs outside,” the panel was told.
The
industry has witnessed a robust growth over the past few years moving
from a turnover of about $1 billion in 1990 to over $20 billion in 2010
of which the export turnover is around $8 billion. The industry ranks
third in terms of volume and 14th in terms of value. India has 22 per
cent share in the 84 billion dollar world market of generics, according
to the official figures presented before the panel.
“While the
pharmaceuticals exports are growing at over 17 per cent over the last
three years, the domestic market is showing a growth of 14 to 15 per
cent during the same period. The domestic market has touched
Rs.60,000 crore sale in 2010 from
Rs.39,989
crore of 2006-07,” the statistics said. The panel also viewed that
almost 60 billion dollar worth medicines are likely to come off patent
in the next few years and India is poised to emerge as a significant
player in the area.
The panel also discussed issues relating to
the policy measures, the performance of PSU drug manufacturers, their
revival plans, concerns of the private industry, the Schedule M
constraints, patent issues, acquisition of Indian companies by
multinationals etc. The committee also took inputs from the stakeholders
represented through some associations.
Parliamentary Standing
Committee, Chemicals and Fertilisers assessed that the research and
development in the Indian pharma industry was picking up and at least 10
to 12 leading companies are into new drug discovery now.
Some of
them have increased their R&D spending to four to 10 per cent of
their turnover compared to the mere average of just 2 per cent earlier.
The drug and pharmaceuticals industry as a whole has the potential to
grow manifold and contribute significantly to the global drug
requirements, particularly in the generic segment, according to the
presentations made at a meeting of the panel.
The committee also
took views of officials and stakeholders on the subject of ‘National
Policy on Petrochemicals vis-a-vis Growth of Petrochemical Industries’,
apart from assessing the health of public sector and private sector
pharma industries.
“It is gathered that a few products are
expected to go for clinical trials in the next few years in the areas of
anti-infective, anti-cancer and lifestyle segments. With the
application of product patents in case of pharmaceuticals, the
confidence levels of Western pharma companies towards India for contract
R & D work is going up. While Indian companies by themselves are
also conducting clinical trials in India, due to availability of
upgraded infrastructural facilities, the country is becoming a hub for
trials for the MNCs outside,” the panel was told.
The industry
has witnessed a robust growth over the past few years moving from a
turnover of about $1 billion in 1990 to over $20 billion in 2010 of
which the export turnover is around $8 billion. The industry ranks third
in terms of volume and 14th in terms of value. India has 22 per cent
share in the 84 billion dollar world market of generics, according to
the official figures presented before the panel.
“While the
pharmaceuticals exports are growing at over 17 per cent over the last
three years, the domestic market is showing a growth of 14 to 15 per
cent during the same period. The domestic market has touched
Rs.60,000 crore sale in 2010 from
Rs.39,989
crore of 2006-07,” the statistics said. The panel also viewed that
almost 60 billion dollar worth medicines are likely to come off patent
in the next few years and India is poised to emerge as a significant
player in the area.
The panel also discussed issues relating to
the policy measures, the performance of PSU drug manufacturers, their
revival plans, concerns of the private industry, the Schedule M
constraints, patent issues, acquisition of Indian companies by
multinationals etc. The committee also took inputs from the stakeholders
represented through some associations.