CALLING THE SHOTS

India is the largest provider of generic drugs globally, supplying over 50 per cent of the demand for various vaccines, 40 per cent of generic demand in the US and 25 per cent of all medicines in the UK.

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The Indian pharmaceutical industry accounts for 3.5 per cent of the total medicines exported across the world. It is also the third-largest in the world by volume. There are more than 3,000 registered pharma companies and 10,500-plus manufacturing facilities. As of 2019-20, the total size of the pharmaceutical and related industries was around US $51 billion or Rs 3.8 lakh crore.

But for a growing sector, there are major challenges. India imports 86 per cent of the total requirement of medical devices, including surgical, cardiac stents and electronic gadgets. It also faces hurdles in manufacturing active pharmaceutical ingredients (APIs). A Rs 1 lakh crore ($1.3 billion) government fund is being set up to boost companies to manufacture APIs in the country by 2023 and cut imports from China. To boost R&D in pharma, three national centres of excellence (CoE) for drugs and medical devices are on the anvil. The National Institute of Pharmaceutical Education and Research (NIPER) will also house a CoE for drugs discovery.

Alongside, India’s biotechnology industry, comprising biopharmaceuticals, bio services, bio-agriculture, bioindustry and bioinformatics, is also growing. With 30 per cent growth rate a year, the pharma sector is targeting a $100 billion (Rs 7.5 lakh crore) turnover by 2025.

SHANTHA BIOTECHNICS

ESTABLISHED:1992

The Wizard of Biotech