Hyderabad: The Indian pharma industry has generated remarkable growth in the past decades fueled by increasing burden of diseases and aspirations to be the key generics, biosimilar and vaccine manufacturer for the world markets. Informa Pharma Intelligence’s ‘Indian Biosimilars Report’ shows that India leads the way with 127 products, which is the highest number of approved biosimilars compared to other major regions including the US and Europe.
This is expected to grow further and is likely to shape the next decade for the Indian biosimilars market through intensive portfolio management decisions, pricing, manufacturing prospects, clinical trials and government support, the report unveiled at the 10th Annual Pharma IPR India Conference showed.
Poornachandra Tejasvi, senior director, Emerging Markets, India, Informa Pharma Intelligence said, “With the increasing need for developing new and novel drug therapies, biosimilars and value-added generics, and intellectual property, play a crucial role in protecting these innovations and novel formulations.”
Yogesh Mudras, MD, Informa Markets in India, said, “The pharmaceutical sector is complex and highly regulated in most economies. Recent challenges over patents for varied newer drugs has emphasised that advancement is still required in balancing the opposing forces of innovation through protection of IP rights, versus the provision of affordable drugs for the emerging geographical regions across the globe. IP is the backbone to ensure development of new drugs and is extremely vital to improvise patient care, spurring economic growth and intensifying the innovation economy. To motivate researchers to explore new areas of medical innovation, modern IP systems and strong protections are crucial.”
As per an integrated industry report by India Ratings and Research (Ind-Ra), the improving demand trajectory will boost the Indian pharma sector, wherein over the last nine months these companies have already garnered 45 per cent of all new Abbreviated New Drug Application approvals.
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