The Hindu : Andhra Pradesh News : India fourth in drug production

Online edition of India's National Newspaper
Sunday, Jul 22, 2007
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Andhra Pradesh

Andhra Pradesh

India fourth in drug production

Staff Reporter

WARANGAL: Spending on health care is increasing significantly all over the world and India’s present $ 6 billion will reach $ 16 billion by 2015, observed Pankaj R. Patel, chairman & managing director of Zydus Cadila.

Delivering a keynote address at the national symposium on ‘Pharma entrepreneurship vision 202’ here on Kakatiya University campus on Saturday, Mr. Patel said India was the fourth largest in drug production and consumption as well.

“As expenditure on R&D is increasing enormously with reduced productivity, the US and Europe pharma industry is projected to get into crisis by 2020. India is expected to provide solutions to the crisis with its low cost production and highly skilled personnel. India would emerge as global manufacturing hub of pharmaceuticals,” he predicted.

Mr. Patel further said there would be good opportunities in manufacturing of complex products like drug delivery based products, biologicals, etc.

Paradigm shift

Major global pharma companies were evincing interest to set up their centres in India. There was a paradigm shift from volume to value strategy as many big pharma companies were now stratifying patients with better disease understanding at molecular level. The traditional medicine system was under going a transition leading to individualised medicine. He exhorted the students to take early initiatives in creating “differentiated capabilities” in high-end biology as the environment was conducive to pharma entrepreneurship in the country.

Presiding over the symposium, university Vice-Chancellor V. Gopal Reddy said pharma industry was playing a pivotal role in national building. Chairman, International Alliance for Economic Empowerment, Bangalore, Saurabh Lahiri and Chairman of Hyderabad Ekalavya Foundation, P.Venugopal Reddy also spoke.

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