Research and Markets: Indian Pharmaceutical Industry Likely to Change Significantly in the Near Future.Business Editors/Health/Medical Writers
DUBLIN, Ireland--(BUSINESS WIRE)--April 22, 2004
Research and Markets (http://www.researchandmarkets.com) has announced the addition of Indian Pharmaceutical Industry to their offering.
The environment under which Indian pharmaceutical industry is operating is changing slowly at present and likely to change significantly in future. The Indian pharmaceutical industry grew at a very slow pace from 1947 to 1970 due to the lack of incentives and the failure of the government to set-up a concrete regulatory framework. The industry is characterized char·ac·ter·ize
tr.v. character·ized, character·iz·ing, character·iz·es
1. To describe the qualities or peculiarities of: characterized the warden as ruthless.
2. by numerous governmental regulations and policy changes, stifling price controls and rigorous controls on formulations and an absence of international patent protection. During 1970, the Indian Patents Act (IPA IPA - International Phonetic Alphabet ) and the Drug Price Control Order (DPCO DPCO Double Pole Change-Over (electronics)
DPCO Drug Price Control Authority (formed in 1970 for Indian pharmaceutical industry) ) were passed. Although, the DPCO acted as a buffer against pharmaceutical companies by making free pricing illegal, it fulfilled ful·fill also ful·fil
tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils
1. To bring into actuality; effect: fulfilled their promises.
2. the goal of providing quality drugs to the public at reasonable rates. The introduction of the IPA which did not recognize product patent but only process patent provided a major thrust to the Indian Pharmaceuticals industry and the Indian companies This is a list of major companies based in India. Please note that the list is highly incomplete and does not have every company of all sizes. More information about the companies can be found in the links to the company articles. A
Thus, there are about 24,000 companies big, medium and small fighting for a more than $ US 5 Billion market. The Indian pharmaceutical market is ranked about 12th worldwide. About 300 firms in this industry are in the organized sector, around 15,000 being in the small scale sector and the remaining being very small without any economies of scale. India manufactures over 400 bulk drugs and around 60,000 formulations being distributed by 5,00,000 chemists This is a list of famous chemists: (alphabetical order)
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