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The Indian Pharmaceutical Industry: Collaboration for Growth
The Global Pharmaceutical practice, in conjunction with KPMG in India and KPMG in Germany, is pleased to introduce The Indian Pharmaceutical Industry: Collaboration for Growth. India's pharmaceutical industry has been growing at record levels in recent years but now has unprecedented opportunities to expand in a number of fields. Much of these new opportunities are due to the country's introduction, in January 2005, of a system of product patents. Before that, only patents for processes were permitted to be issued, a fact that has been instrumental in the domestic industry's huge success as a worldwide exporter of high-quality generic drugs.
This has led to the return of the world's multinational drugmakers to the market. Now they are back, and looking at India not only for its traditional strengths in contract manufacturing but also as a highly attractive location for research and development, particularly in the conduct of clinical trials and other services. India's leading drug manufacturers are becoming global players, utilizing both organic growth, through the gradual development of their business, and M&A as they seek to boost their presence in existing markets and open up new ones. Both multinationals and domestic players are also examining the prospects offered by the local market as the government moves forward with initiatives aimed at providing India's more than one billion inhabitants with access to the life-saving drugs they need.
However, there are significant obstacles ahead and overcoming them will require new commitment by both industry and government, and unprecedented levels of partnership between them. This report examines these challenges and opportunities and includes valuable insights provided by a number of the industry's leading figures.
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