Enam Securities, a leading financial services provider, hosted a seminar on ‘New Frontiers for Indian Pharma- Outsourcing’ which highlighted the potential opportunities in global pharmaceutical outsourcing and the strategies adopted by Indian companies to capitalize the same. This seminar was a part of Enam’s ongoing initiative to keep clients ahead by identifying structural changes and emerging trends in the dynamic Indian economy.
According to Manish Chokhani, Director, Enam Securities, “The global pharmaceutical industry is witnessing immense pressure on profitability owing to a stringent regulatory environment, declining resource productivity, emergence of institutional buyers and the introduction of alternative technology. These factors have made it imperative for global majors to contain costs.”
International pharmaceutical majors have already commenced taking steps in this direction. Recently, Astra Zeneca committed significant investments to create a global R&D centre in Bangalore. Quintile, a leading chemical research organization, has already commenced operations in the country and is convincing its international clients to conduct clinical trials in India.
In the field of generics or post patented drugs, outside of USA, India has the highest number of USFDA approved plants. In this segment of the market, Indian companies such as Ranbaxy and Dr Reddys have made their presence felt in the US and other regulated countries. In order to stay competitive, leading generic drug companies are evaluating joint ventures, strategic alliances and acquisitions opportunities in India. Recently, Apotex has entered into exclusive marketing agreement with Orchid Chemicals and Pharmaceuticals.
Nicholas Piramal India limited, Shasun Chemicals and Drugs Limited, Aurobindo Pharma Limited, Jubliant Organsys Limited and Orchid Chemicals and Pharmaceuticals Limited participated in this seminar.