Hridkamal Roy, Assistant Managing Editor, India Pharma Outlook
India is currently the world’s largest generic medicine supplier and accounts up to 20 percent of the global pharmaceutical exports according India Brand Equity Foundation (IBEF). Many native pharma companies are getting associated with MNCs like AstraZeneca, Cipla and others in order to boost the range of pharmaceutical research in the country and expand the reach of the Indian pharmaceutical sector. There has also been focus of API manufacturing on a native scale and many organizations are tapping into this opportunity and making a mark in this segment globally.
“The Indian pharma industry has achieved phenomenal milestones in recent years. Rising to prominence for supplying quality medicine at an affordable price, the pharma products of the country are sought across the globe. Exporting to more than 200 countries, India aspires to become the pharma powerhouse of the world”, mentioned Deepesh Upadhyay, Asst. Vice President, Delair India Pvt. Ltd.
A few aspects are noteworthy when it comes to Indian pharma companies trying to gain more market access for the global demand. Though being at a positive growth phase, these are some of the factors that can help them in being further successful in this endeavor.
The Indian pharmaceutical industry is currently investing a lot into innovation in order to keep up with the global competition. Many companies are focusing on development of novel drug delivery systems. They are investing in developing new formulations and drug delivery mechanisms and also expanding the lifecycle of products. They are also getting associated with globally renowned research institutions for gaining access to cutting-edge technologies and changing trends pharmaceutical manufacturing. Companies are also increasing investment for developing biosimilars and biologics that are being observed as the drivers of growth in the coming years.
To give an example, one notable Indian pharmaceutical company that is actively involved in developing novel drug formulations is Sun Pharmaceutical Industries Ltd. The organization is known for its extensive research and development efforts in creating innovative drug delivery systems and novel formulations.
“The generics-driven pharmaceuticals industry must also emerge as a hub for drug discovery and development. The Indian pharmaceutical industry has the current market size of $50 billion, the third largest in the world by volume. Boosted by R&D and innovation, it could grow to $120-130 billion in ten years”, mentioned Vinod Paul, Member (Health), NITI Aayog.
For maintaining a strong reputation and get ahead of the competition in the global market, Indian pharmaceutical companies are trying to keep a high quality in products. They are implementing strict quality standards that are aligning with all international benchmarks. Even in case of native API manufacturing, companies are trying to drive innovation not only through experimentation, but also standardizing the quality of products. Internal as well as external audits are being carried out by companies at regular time intervals in order to ensure the compliance of processes and maintaining accurate quality in products.
In this regard, Dr. Reddy's Laboratories is an Indian pharmaceutical company known for its strong emphasis on quality standardization. The company has consistently adhered to stringent international quality standards and regulatory requirements, ensuring that its manufacturing processes and products meet the highest levels of safety and efficacy.
"We are optimistic about the future. Obviously, there are external factors that will continue, but we are quite optimistic about the future of the pharmaceutical industry, “said Nandini Piramal, Chairperson, Piramal Pharma.
Indian pharmaceutical companies are significantly enhancing their global market access through robust intellectual property (IP) rights management. Effective IP management is starting with proactive patent filings in key markets to protect innovative products and formulations, ensuring exclusivity and competitive advantage. Developing a comprehensive IP strategy that includes monitoring global patent landscapes and staying updated with international IP laws are helping companies in identifying the potential opportunities and threats.
Additionally, combating counterfeiting through advanced packaging technologies and serialization safeguards the brand’s integrity and maintains consumer trust. Licensing agreements and strategic partnerships can further leverage IP assets, allowing companies to penetrate new markets while sharing risks and benefits. By prioritizing strong IP practices, Indian pharma companies can secure their innovations, optimize market opportunities, and establish a stronger presence in the global pharmaceutical landscape.
Cipla Limited is an Indian pharmaceutical company renowned for its effective IP rights management. Cipla has a robust strategy for protecting its intellectual property, which includes proactive patent filings and rigorous IP monitoring to safeguard its innovations globally. The company’s emphasis on IP rights ensures that its novel formulations and products are well-protected, facilitating its expansion and competitiveness in international markets.
"India's approach underscores a commitment to balancing innovation with public health needs, adopting a flexible interpretation of TRIPS to align with its developmental goals, and preventing the establishment of unfair monopolies, especially in the pharmaceutical sector," mentioned GTRI (Global Trade Research Initiative).
Apart from the above, there are various other methods that are being implemented by Indian pharmaceutical companies in order to expand the reach and cater to more global demand that is growing day after day. These methods include incorporation of advanced manufacturing technologies based on automation, adapting digital tools to streamline processes and uphold operational excellence, using modern innovations like data analytics and AI to create new molecules and formulations and many others. The Indian pharmaceutical sector is currently undergoing a growth phase influenced by the above factors and we can hope to see further progress in the coming years.
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