India Pharmaceuticals and Healthcare Report Q1 2009

Publication Date	February 2009
Publisher	Business Monitor
Product Type	Report
Pages	125
ISBN Number	1748-1937
Product Code	BMI03484

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Summary

India remains regarded as a moderately attractive proposition, as illustrated by the fact that it once again holds an unchanged eighth position in BMI's Q109 regional Business Environment Rankings for Asia Pacific. While the fast-growing population in India will represent one of the main drivers of pharmaceutical growth in the coming years, low per capita consumption and emphasis on generics hamper the level of market development. Similarly, an excessive amount of red tape, underdeveloped infrastructure and the deficient legal framework remain barriers to investment, although the government is striving to improve the regulatory environment, with the imminent creation of the Department of Pharmaceuticals. Nevertheless, in December 2008, India's drug price regulator decided to lower prices of 46 brands and to include 254 new medicine brands in the list of price-controlled drugs, despite an announced increase of prices of 31 medicine brands.

In the meantime, the domestic generics industry continues to expand, both locally and abroad, although it has not all been plain sailing. In late 2008, Indian Zydus Cadila - a unit of Cadila Healthcare - purchased Italy-based Etna Biotech from Dutch biotechnology firm Crucell, while Sun Pharma acquired 100% of the US-based narcotic producer and importer Chattem Chemicals. On the other hand, Lupin recently became the third drugmaker to be accused of sub-standard manufacturing by the US Food and Drug Administration (FDA), which will attract greater scrutiny on the sector as a result. Other Indian companies facing similar problems in the past include Ranbaxy Laboratories, Sun's' US-based subsidiary, Caraco Pharmaceutical Laboratories, as well as Wockhardt and Granules India.

The above developments will have an impact on Indian generics exports. According to the recently released figures by news provider Pharmabiz, the annual growth of India's pharmaceutical export sector is down by more than half. Key reasons include increased competition in the highly regulated markets of the US and Europe and the steady appreciation of the rupee. Nevertheless, BMI believes that the fundamentals of the sector are sound and we expect high double-digit growth to be maintained over the medium term. A victory for Barack Obama and the Democratic Party in the US general election in November 2008 will increase generic substitution in the world's largest pharmaceutical market, while the 2011 patent cliff provides yet the greatest opportunity for Indian generics exports.

On the domestic front, generics are also winning, with the first generic drugs store reportedly opened by the Department of Pharmaceuticals at the end of November 2008, as part of an ambitious project to set up such stores in each district of the country. The use of generics will be further encouraged by the deceleration of India's GDP growth. In first quarter of FY08/09 (April-June) - corresponding to Q208 calendar year - GDP growth hit a four-year low of 7.9% year-on-year (y-o-y), as decade-high inflation and rising interest rates take the heat out of India's booming economy, with future risks remaining on the downside.

Content

Executive Summary
India Pharmaceutical Industry SWOT
India Political SWOT
India Economic SWOT
India Business Environment SWOT
India's Pharmaceutical Business Environment Ratings
Limits Of Potential Returns
Risks To Realisation Of Returns
Regulatory Environment
Pharmaceutical Advertising
Pharmacovigilance
Recent Regulatory Developments
IP Regime
Deficiencies Of IP Regime
Patent Disputes
Counterfeit Medicines
Pricing And Reimbursement
Recent Pricing And Reimbursement Developments
Industry Trends And Developments
Epidemiology
Healthcare Sector
Healthcare Funding
Healthcare Insurance
Pharmaceutical Industry
Company Developments
Retail Pharmacy Sector
Recent Pharmaceutical Retail Developments
Foreign Co-operation
Clinical Trials
Recent Developments in the Clinical Trials Industry
Active Pharmaceutical Ingredients
Biotechnology Sector
Recent Biotechnology Sector Developments
Traditional Medicines
Medical Devices
Regulation of Medical Devices
Recent Developments In Medical Devices Sector
Industry Forecast Scenario
Overall Market Forecast
Key Growth Factors - Industry
Key Growth Factors - Macroeconomic
Prescription Market Forecast
Patented Market Forecast
Generics Market Forecast
OTC Market Forecast
Export/Import Forecasts
Medical Devices Forecasts
Other Healthcare Data Forecasts
Key Risks To BMI's Forecast Scenario
Competitive Landscape
Company Profiles
Leading Multinational Manufacturers
Pfizer
GlaxoSmithKline (GSK)
Novartis
Sanofi-Aventis
Merck & Co
Eli Lilly
Leading Indigenous Manufacturers
Ranbaxy Laboratories
Cipla
Dr Reddy's Laboratories
Aurobindo Pharmaceutical
Venus Remedies
Granules India
Nicholas Piramal India
Zydus Cadila
Dishman Pharmaceuticals and Chemicals
Country Snapshot: India Demographic Data
Section 1: Population
Section 2: Education And Healthcare
Section 3: Labour Market And Spending Power
BMI Forecast Modelling
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
Weighting
Sources
List of Tables
- Table: Asia Pacific Pharmaceutical Business Environment Rankings For Q109
- Table: Responsibilities Of India's Department Of Pharmaceuticals
- Table: The Different Names For Paracetamol
- Table: History Of The Indian Patent System
- Table: Anti-Counterfeiting Guidelines From The Organisation Of Pharmaceutical Producers Of India (OPPI)
- Table: Criteria For Rational Drug Use
- Table: Key Findings From The Indian Genome Variation Consortium Project
- Table: Health Insurance In India - Key Facts
- Table: Major Players In India's Retail Pharmacy Sector
- Table: India - Asian FTA Situation
- Table: Clinical Trial Considerations In Asia
- Table: India - Drug Expenditure Indicators, 2003-2013 (INRmn unless otherwise stated)
- Table: India - Health Expenditure Indicators, 2003-2013 (INRmn unless otherwise stated)
- Table: India - Economic Activity
- Table: India - Prescription Market Indicators, 2004-2013 (INRmn unless otherwise stated)
- Table: India - Patented Market Indicators, 2004-2013
- Table: India - Generics Market Indicators, 2004-2013
- Table: India - OTC Market Indicators, 2004-2013 (US$mn unless otherwise stated)
- Table: India - Pharmaceutical Trade, 2004-2013 (US$mn)
- Table: India's Medical Device Market, 2003-2013 (US$bn unless otherwise stated)
- Table: India - Healthcare Data Indicators, 2004-2013
- Table: Ranking Of Indian Drug-Makers By Retail Sales, July 2007
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Table: Education, 2002-2005
- Table: Vital Statistics, 2005-2030
- Table: Employment Indicators, 1996-2001
- Table: Consumer Expenditure, 2000-2012 (US$)
- Table: Average Annual Manufacturing Wages, 2000-2012
- Table: Pharmaceutical Business Environment Indicators
- Table: Weighting Of Components

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Product features / use

Level	General Industry Strategies
Data	Detailed Market Forecasts
Profiles	Profiles of Key Companies
Features	Contains SWOT Analysis
Extra Info	Consumer Trends Highlighted