Articles related to industry overview

The poor allergy related drug availability in the Indian pharma market

Universally, drug availability is divided into 3 categories based on the novelty and level of risk as per the USFDA (Pacifici and Bain, 2018). Drug availability is a rising issue in the Indian pharmaceutical market. These drugs comprise of:

  • New drugs (drugs that were never been approved before).
  • Generics (copy of a branded drug).
  • Over the counter (OTC) drugs (can be purchased without a prescription).
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Understanding the pharmaceutical marketplace of India

In the global pharmaceutical marketplace, the Indian pharmaceutical industry is at 13th position, in terms of value and has the 3rd largest volume (Department of Commerce, 2017). Currently, pharmaceutical sales in India stand at USD 20 billion. It is envisaged to extend to 55 billion by 2020 with a compound annual growth rate (CAGR) of 15.92%. Indian pharmaceutical sector holds a key position in the global export market of pharmaceuticals. The US branded generic drugs are the major pharmaceutical drugs exported outside India. It comprises approximately 20% of the global generic drugs (Chandra, 2016).

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Impact of the Drug Price Control Order on the pharma industry

The Drug Price Control Order (DPCO) was enacted by the Government of India in 1955. The latest amendments to the policy and regulations were made in 2013 and termed as DCPO-2013 (National Pharmaceutical Pricing Authority, 2018). This regulation ensures the availability of essential drugs to the public at a reasonable and controlled price (Kumar, Gupta, and Kumar, 2014). The Drug Price Control Order identifies drugs as an essential commodity. The Drug Price Control Order poses a check on manufacturers and prevents them to sell their drugs at an exorbitant price (The Economic Times, 2017). No pharma company is authorized to sell any drug to a consumer at a price exceeding the tagged price by National Pharmaceutical Pricing Authority (NPPA) under DPCO-2013.

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Understanding the FFDCA and FDAAA acts of the USA and its impact

Federal Food, Drug, and Cosmetic Act (FFDCA) of the United States were enacted to prevent the adulteration of food and drugs and their misbranding (Wozniak et al., 2012). On the other hand, the Food and Drug Administration Amendments Act (FDAAA act) was signed in 2007 to review some of the provisions of the FFDCA (FDA, 2018a). Food and Drug Administration Amendments Act (FDAAA) targeted user fee acts whereas, FFDCA focused on prescription drugs and medical devices. The FDAAA act was aimed to add new funding and resources to food and drug administration (FDA) to review the new drugs and medical devices (FDA, 2018b).

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How are sales performance and production accounted in the pharmaceutical drug market?

The pharmaceutical drug market comprises of expenditures, value generation, sales, production capabilities, and availability. However, the drug market is mainly determined by the sales or the production rate of the companies. Subsequently, sales are related to the production rate in the sense that, sales of drugs drives the production rate of the companies (Yin, 2008).

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Impact of R&D investments in the pharmaceutical and AYUSH industry

R&D investments are an important component for driving the sales and distribution of the pharmaceutical drug market (Pammolli, Magazzini, & Riccaboni, 2011). R&D or research and development helps in improving the productivity of drug production as well as outreaching a larger target of the population. Therefore, it may be hypothesized that increased R&D investments improve the sales and distribution of the allopathic as well as AYUSH based drugs in India. R&D investments in pharmaceutical industries help improving expenditures for drug filing, improved quality control, drug clinical tests, packaging, export charges, and inspection costs (Li & Hall, 2016). Read more »

The inflow of FDI in the key industries of India

India highly depends on foreign investments in the form of foreign direct investments (FDI) to fund its economic growth (Demirhan & Masca, 2008). Amongst all the sectors, the manufacturing sector and service sector has undergone a transformation and experienced high growth rates in the past few years. However, from the data on FDI, it can be observed that few key industries belonging to these two sectors have boosted at a faster rate than the others and attracted more FDI than the others.

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Impact of international policies on the Indian Indian drug market

The drug market in India not only manufactures drugs to be used in the country but also for export to other countries of the world (Basak, 2018). There are different international policies and laws as well as country-specific laws that pharma companies need to follow for the export of drugs. There is a good number of evidence that international policies drive pharmaceutical allergy drug market of India. Read more »

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