India Pharmaceuticals Report Q2 2009

Publication Date	May 2009
Publisher	Business Monitor
Product Type	Report
Pages	100
ISBN Number	1748-1937
Product Code	BMI03929

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Summary

India's pharmaceutical market is the third largest in Asia Pacific, behind China and Japan. Combined sales of prescription products and over-the-counter (OTC) medicines reached US$14.23bn in 2008 - a 12.0% increase compared to the previous year. Drug spending accounts for 1.22% of GDP and annual per capita expenditure is US$11.96. Through to 2013, BMI is forecasting a compound annual growth rate (CAGR) of 5.79% for the overall pharmaceutical market.

As of April 2009, local firm Wockhardt was in crisis. Its managing director had stepped down, the company was struggling to meet its debt obligations and a fire sale of assets was imminent. Market commentators speculated that the root cause was substantial mark-to-market losses on forex derivative bets. This swelled the company's debt burden to INR3,000 crore (US$746mn) by the end of 2008.

Considering that Wockhardt's market capitalisation is just INR936 crore (US$185mn), creditors are rightly nervous. Investors are also increasingly bearish.

In March 2009, the Drug Technical Advisory Board recommended a ban on the use of the anti-obesity drug rimonabant due to it inducing suicidal tendencies. Manufacturers were reluctant to accept the ruling as the drug is a significant revenue stream in a country where the vast population is increasingly overweight. The final decision will be made by the Drug Controller General, and we expect removal of the cannabinoid antagonist from the market.

BMI believes India's pharmaceutical industry will ultimately benefit from the global economic downturn.

Developed countries are increasingly looking to control healthcare costs and buying cheap drugs from the sub-continent is one way to achieve this. However, in the short term, India's contract manufacturers are likely to suffer from reduced demand for their products.

A patent application for Copaxone (glatiramer acetate), a multiple sclerosis drug marketed worldwide by Israel-based Teva Pharmaceuticals Industries, in India was blocked by India's Natco Pharma in March 2009. The Indian patent office refused the application, which was submitted to it by Yeda Research & Development, due to obviousness and lack of inventiveness.

Content

Executive Summary
SWOT Analysis
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
India - Market Summary
Regulatory Environment
Pharmaceutical Advertising
Pharmacovigilance
Recent Regulatory Developments
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
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
Traditional Medicines
Medical Devices
Regulation of Medical Devices
Industry Forecast Scenario
Overall Market Forecast
Key Growth Factors - Industry
Key Growth Factors - Macroeconomic
The Global Finanical Crisis and India's Pharmaceutical Industry
Prescription Drug Market Forecast
Patented Product Market Forecast
Generic Drug Market Forecast
OTC Medicine Market Forecast
Pharmaceutical Trade Forecast
Medical Device Market Forecast
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
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 Q209
- Table: Responsibilities Of India's Department Of Pharmaceuticals
- Table: History Of The Indian Patent System
- Table: Anti-Counterfeiting Guidelines From The Organisation Of Pharmaceutical Producers Of India (OPPI)
- Table: Health Insurance In India - Key Facts
- Table: Major Players In India's Retail Pharmacy Sector
- Table: India - Drug Expenditure Indicators, 2003-2013
- Table: India - Health Expenditure Indicators, 2003-2013 (INRmn unless otherwise stated)
- Table: India - Economic Activity, 2005-2013
- 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: 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