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Pharma In Focus
Mad About Money
|December 2017
The pharmaceutical industry is one of the biggest paperintensive industries in the world and of course, is responsible for the health and general well-being of the population.
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The foundation of the pharmaceutical industry in India began in the late 50s and early 60s. The main reason for the establishment and growth of this sector was to meet the challenges of local shortages and of course, bring down the cost price.At that time, a large percentage of medicines were exported from other countries to India, all mainly by multinational companies..
Once the connection of local pharmaceutical companies was established, it took over production of medicines and launched its domain in the international market by the late 80s and early 90s. As production flourished, by the late 2000s, more than 50 percent of the revenue was from the international markets for all these Indian companies.
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