Organization of Pharmaceutical Producers of India (OPPI), the leading association of research-based international and large pharmaceutical companies in India, released a report on Indian pharmaceutical industry – ‘Vision 2015’ at its 42nd annual general meeting held on September 20.

‘Vision 2015’, a joint effort of OPPI and Yes Bank highlighted that the Life Sciences industry is highly knowledge intensive and is undergoing rapid transformation. Currently the industry is at an exciting stage of growth at about 9.9 per cent with robust growth to touch INR 859 billion by 2015. Exports driven by contract research would grow at 16.2 per cent (CAGR) and the domestic market at about 12.5 per cent. The markets for lifestyle diseases are expected to witness growth upwards of 15 per cent, with patented products capturing around 8 per cent of the total market by 2015. The Branded Generics would remain unbeatable by continuing to remain the single largest segment touching INR 704 billion by the year 2015.

Addressing the audience, Ranga Iyer, president OPPI said, “Innovation, commitment to the society and understanding of the local market dynamics are the key factors, which symbolizes Indian pharmaceutical industry and the various members of this sector. We as members of OPPI have always prided ourselves in the fact that while we look to innovate to ensure that we are ahead of the diseases that plague the new world, we are equally or even more committed to ensure access to medicines to all through our community driven programme that is one of the common feature of all members of OPPI.”

The event also saw the launch of the website www.shamashoppi.com, named after the Greek God of Justice, “SHAMASH” which would provide access to all Pharmaceutical related laws.

The OPPI's new office-bearers have been announced in the AGM. Ranga Iyer, managing director of Wyeth has been selected as president OPPI. There are four vice presidents - Sandeep Gupta, chairman & managing director, Eli Lilly & Co; Kewal Handa, managing director, Pfizer; Dr G L Telang, managing director, Roche Scientific Company and Dr Shailesh Ayyangar, managing director, Sanofi - Aventis