Pharmaceuticals drugs are drugs given under the
advice of doctors to cure various disorders. 70% of the country's demand
for drugs, chemicals, capsules etc is met by these companies. In India
there are about 250 large pharmaceutical manufacturers and about 8000
small scale pharmaceutical manufacturers. The total worth of
Pharmaceutical industries is said to be about around $ 4 million and it
is said to be growing at a rate of 10 to 12% annually.
Current Position of Indian Pharmaceutical Industries
Earlier when medical science had not made so much progress people used
to go to vaids, who gave them medicines mostly made from plants and
other herbal products. But the growing complexities of life made way for
newer kind of physical disorders and to cure them hospitals and
pharmaceutical industries also came up. Today you can find medicine for
the simplest to the most complex physical disorders. Indian
pharmaceutical industries have quality producers and today there are
many international companies collaborated with India pharma Industries.
The 250 large pharmaceutical companies have control of nearly 70% of the
market and there is stiff price competition. Any drug approved by the
Drug control Authority can be produced by the pharmaceutical companies
and the low cost of production, development in science and technology,
strength of national laboratories help the companies in their
production.
Prospects of Pharmaceutical Industries in India
Some of the leading pharmaceutical companies of India are Ranbaxy, Sun
Pharma, Dr. Reddy's etc. Mixture of right product is very essential for
the growth of the pharma companies. It also needs to take advantage of
recent developments in biotechnology and information technology. Growth
also depends on the fact how well these companies make their product and
distributes them. Another thing which the Indian pharma companies have
to improve is the research and development and they have to invest
largely on research and development.
