Abstract
This paper is an edited version of a presentation given at the IGPA Conference in June 2005 in Malta. The global pharmaceutical industry is undergoing enormous change characterised by pressures on the big pharmaceutical sector, the advent of biotech and the global expansion of the generics industry. Big pharma continues to face difficulties with respect to productivity and the returns generated by its R&D. However, growth of the generic industry is forecast to remain strong, as a result of burgeoning healthcare costs facing governments around the world and the global ageing population, leading to increased need for more affordable medicines. Against this background, India is emerging as one of the major centres for global pharma, whether it be in drug discovery and its related aspects or in the development of generic medicines. Until recently India was scarcely in the forefront, but today it is increasingly being considered as providing unique competitive advantages in R&D and manufacturing. If India utilises these advantages optimally the result will be significant benefits to patients both in terms of innovative and newer medicines and more affordable alternatives around the world.
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