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Delhi, New Delhi, India, 2007/03/21 - CEO of Dr. Reddy’s Laboratories, GV Prasa, forecasted that preclinical trials and early-stage drug discovery is all set to become the next booming service sector in India.
GV Prasa, CEO, Dr Reddy’s Laboratories, at the 13th Annual Pharmaceutical Conference organized in London by the Economist told the delegates that the landscape of drug discovery and development is fast changing in India.
Talking about the future of Indian companies operating in the field of contract research and manufacturing, Prasa said the attempts made by firms to make more value across the drug discovery and development chain will result in alliances that provide these firms with critical mass and scale to take their drugs from labs to the market.
In particular, many large Indian players who used to deal in generics-only have started to develop their own R&D programs and several of these will certainly diversify their operation to offer ‘discovering services’ on contract basis also as experience, skills and capacity rise.
Some small players like Advinus Therapeutics, Connexios, Aurigene Discovery, and GVK Lifesciences are already offering preclinical contract services in India.
Indian drug manufacturers are putting high stakes on worldwide pharmaceutical outsourcing for their future growth. One estimate predicts worldwide pharmaceutical outsourcing to stand at a whooping $35 Billion. Asian market is eyeing on a significant share of it. Portion of India in the world pharmaceutical outsourcing market is expected to surge substantially to $1 Billion from the existing level of $400 Million.
RNCOS report “Indian Biotechnology Market Outlook (2006)” says that Biopharma industry, consisting of therapeutics, vaccines, and other related products, will come out as a critical segment of the Indian biotech sector. Following a growth rate of 28.09% from 2005, the Indian biotech sector is anticipated to become a US$ 5 Billion market by 2010 end.
The market research report also highlights the total market size, trends in Indian biotech industry, industry performance, and market segmentation. Apart from this, the report provides an in-depth analysis on industrial biotech market, performance of industrial biotech companies, and investments in Indian biotechnology sector. The report brings forth the strengths and weaknesses of the Indian biotech market into focus and discusses all the nitty-gritty of this sector.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.