India stands on the brink of a transformative era pharmaceutical industry Poised to be a major player in shaping the future of the country. Driven by a dedication towards unprecedented innovation and supported by government initiatives aimed at achieving Universal Health Coverage (UHC), the industry aims to cross the target of $450 billion by 2047.

India’s pharmaceutical industry is a global leader not only in terms of volume produced but also in terms of its profound impact global health And innovation. Since India’s independence, the sector has evolved into a powerhouse that meets not only the domestic needs Health care Not only does it play an important role in supplying affordable medicines across the world. Among other things, the industry has played a huge role in the steady decline in communicable diseases in India, the eradication of some deadly diseases and increase in life expectancy.

The Indian pharmaceutical industry comprises a vast network of 3,000 pharmaceutical companies and 10,500 manufacturing units. About 500 API manufacturers also play an important role and contribute about 8 percent to the global API industry. Allowing 100 per cent FDI through automatic routes for greenfield pharmaceutical projects, implementing PLI scheme for key starting materials (KSM) and APIs to increase manufacturing capacity, strengthening infrastructure facilities and strong pricing policies. Government initiatives like Adoption represent important steps. right direction. Let’s take a look at the positive impact and contributions of India’s pharmaceutical industry.

Global supplier of affordable medicines

India has earned the nickname ‘Pharmacy of the World’ due to its role in supplying cost-effective generic medicines Globally. According to Indian Pharmaceuticals Export Promotion Council (Pharmaxil), India exported pharmaceuticals worth $25.39 billion in financial year 2022-23, registering a growth of 3.25 percent over the previous year. The continuously increasing exports reflect India’s important position in the global pharmaceutical trade.

The industry’s focus on generic drug manufacturing has significantly improved access to essential medicines, particularly in developing countries. For example, India is a major supplier of antiretroviral drugs for HIV/AIDS treatment, providing affordable options that have helped millions of people access life-saving treatment. At the turn of the century, India’s pharmaceutical industry achieved a new milestone by reducing the cost of fighting HIV/AIDS from the annual cost of $10000+ to about a dollar per day, which Western pharma companies were pushing for. This is one of the biggest success stories of India’s pharmaceutical industry. Over the years, the industry has become the largest supplier of a range of TB drugs and vaccines.

R&D and Innovation Hub

Indian pharmaceutical companies are not only generic drug manufacturers but also centers of research and innovation. With a growing number of patents and investment in research, the industry is at the forefront of developing new medicines and treatments. During the first nine months of 2023, Indian pharmaceutical companies achieved a significant increase in Abbreviated New Drug Application (ANDA) approvals from the US FDA. Within this time frame, the US FDA approved a total of 618 ANDAs, up from 570 ANDAs approved during the same period last year. Indian companies and their subsidiaries had a significant share in 284 ANDA approvals out of 618 approvals, which was 46 percent of the total approvals. The high number of approvals highlights the innovative capabilities of the industry.

employment and Economic Development

The pharmaceutical sector is a significant contributor to India’s economy, employing millions of people directly and indirectly. The growth of the industry has led to the establishment of research centres, manufacturing units and a strong supply chain, thereby boosting economic growth in various regions of the country.

Responding to global health challenges

during Covid-19 pandemicIndia’s pharmaceutical industry played a key role in the production and supply of vaccines not only for domestic use but also for global distribution through initiatives like COVAX. This response demonstrated the industry’s agility, capacity and commitment to address global health challenges.

sustainability and quality standards

Indian pharmaceutical companies adhere to stringent quality standards, ensuring the safety and efficacy of their products. Not surprisingly, more than half of the drugs manufactured in India go to highly regulated markets. Every third pill sold in the US and every fourth pill sold in Europe are made in India. The industry also adopts sustainable practices, focusing on waste reduction, energy efficiency and responsible manufacturing processes.

Healthcare Infrastructure Support

Through corporate social responsibility initiatives, many pharmaceutical companies in India contribute to improving health care infrastructure, supporting medical research, and providing health services to underprivileged communities.

bright future

India’s pharmaceutical sector is at the cusp of immense growth potential. continued investment in research and development, Innovation and strategic partnerships with international partners will be essential to achieve a leading global position. Initiatives focused on skill development of the pharma workforce and seamless absorption of digital technologies will strengthen the resilience of the industry and elevate India’s position in the global healthcare landscape. The industry needs to promote domestic manufacturing to reduce import dependence, promote collaboration between industry and academia, increase market access, address supply chain challenges to deal with a potential global pandemic, and regulate regulations at both national and state levels. Emphasis should be laid on dealing with issues and increasing ease of working. Business. Through collaborative efforts, strong dedication to excellence and regulatory acumen, the Indian pharmaceutical industry can not only keep pace with the rapidly evolving circumstances but also create a compelling narrative that resonates globally.

India’s pharmaceutical industry is a symbol of health, innovation and global collaboration. Our ability to produce effective antivirals for COVID-19, influenza, hepatitis C and other infectious disease conditions has enhanced our reputation. We have also entered the immunotherapy field and the latest guidelines on phytochemicals have opened a new window for us into the global market of plant-based medicines. The PLI scheme and favorable policy environment have also improved access and affordability of treatments.

Its positive impact extends far beyond economic growth, touching the lives of millions of people around the world by providing affordable medicines, driving innovation and contributing to global health initiatives. As the industry evolves and expands its horizons, its role in shaping a healthier world remains unparalleled.

This article is written by NK Ganguly, former Director General of the Indian Council of Medical Research

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