April 14, 2006
Pharma Outsourcing Market to witness phenomenal growth
Pharma outsourcing market is set to grow by leaps and bounds and is projected to touch $53bn by 2010. The global pharma outsourcing market which currently stands at $24bn will grow as more and more pharma companies seek low cost alternatives for manufacturing and research.
India is well positioned to reap the benefits of this expected growth due to it's low cost of manpower and large number of FDA approved plants. Custom manufacturing is a major contributor to the overall business model of some Indian pharma companies. Indian pharma companies are leaving no stones unturned in garnering a major share of the global pie and are also exploring the inorganic growth route to propel their way ahead. Indian companies are looking at buying sick contract manufacturing organizations to enhance their capacities to make a mark in the global map. TMCnet reports:
Suven Lifesciences, GVK Biosciences, Jubilant Organosys, Nicholas Piramal and Shasun Chemicals & Drugs count among the leading Indian players in this segment.
--
Did you enjoy this post?
Comments
The comments to this entry are closed.
« Phillipines grabs a foothold in the outsourcing pie | Main | The onset of quota system will hamper India's outsourcing growth story »
Recent Comments