The Pharmaceutical industry in India is the world's third-largest in terms of volume and stands 14th in terms of value. According to Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, the total turnover of India's pharmaceuticals industry between 2008 and September 2009 was US$21.04 billion. While the domestic market was worth US$12.26 billion. Sale of all types of medicines in the country is expected to reach around US$19.22 billion by 2012. Pharmaceutical sector
Companies in Indian pharmaceutical industry can broadly be classified into two categories – Indian origin companies (domestic companies) and foreign companies (MNCs). Some of the major players include GlaxoSmithKline, Cipla, Dr. Reddy’s Laboratories, Ranbaxy, Pfizer etc. India is fast becoming a global hub for all pharmaceutical manufacturing and research, and Indian generics today constitute nearly a fifth of global supplies. India tops the world in exporting generic medicines worth US $ 11 billion. Multinational drug companies are showing a healthy growth in the Indian market setting a new trend. In terms of sale, out of 25 top medicine brands in 2011, 13 were global drug majors such as Pfizer, GSK and Novartis. Growth potential & Jobs
The Indian pharma industry is expected to witness robust growth, with an increasing middle-class population, improvements in medical infrastructure and the establishment of IP rights. India has a vast pool of trained pharmaceutical scientists, doctors and researchers, so joint collaborative research for new drug discoveries along with joint intellectual property rights are new areas being pursued. The need of skilled manpower in the pharmaceutical industry ranges widely from R&D, Quality Assurance (QA), Intellectual Property (IP), manufacturing to even sales and marketing. Pharmaceutical industry has the potential to attract talent even during global financial meltdown, as the industry is virtually recession proof. The Pharma sector is...
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