Swot of Indian pharmaceutical industry
Strengths
· Cost competitiveness
· Well developed industry with strong manufacturing base
· Well established network of laboratories and r&d infrastructure, strong motivated scientific force
· Self reliant technology for production
· Access to pool of highly trained scientists
· Strong marketing and distribution network
· Rich biodiversity
· Low r&d costs
· Competencies in chemistry and process development
· Cost effective technologies for bulk drugs production and well developed capital equipment industry
· Increasingly, india is being regarded as a manufacturing base by global pharmaceutical companies.
Weakness
· Low investments in innovative r&d.
· Lack of resources to compete with mncs for new drug discovery research and to commercialize molecules on a worldwide basis.
· Lack of strong linkages between industry and academia.
· Lack of culture of innovation in the industry
· Low medical expenditure and healthcare spend in the country
· Inadequate regulatory standards
· Production of spurious and low quality drugs tarnishes the image of industry at home and abroad.
Opportunities
· Significant export potential
· Licensing deals with mncs for ndds
· Marketing alliances to sell mnc products in domestic market
· Contract manufacturing arrangements with mncs
· Potential for developing india as a centre for international clinical trials
· Niche player in global pharmaceutical r&d.
· Strong base of scientific as well as technical manpower and also due to pioneering work done in process development
· Supply of generic drugs to developed markets
Threats
· Product patent regime poses serious challenge to domestic industry unless it invests in research and development.
· DPCO puts unrealistic ceilings on product prices and profitability and prevents pharmaceutical companies from generating investible surplus
· R&d efforts of indian pharmaceutical companies hampered by lack of enabling regulatory requirement.
· Entrants of newer players in highly fragmented market.
Strengths
· Cost competitiveness
· Well developed industry with strong manufacturing base
· Well established network of laboratories and r&d infrastructure, strong motivated scientific force
· Self reliant technology for production
· Access to pool of highly trained scientists
· Strong marketing and distribution network
· Rich biodiversity
· Low r&d costs
· Competencies in chemistry and process development
· Cost effective technologies for bulk drugs production and well developed capital equipment industry
· Increasingly, india is being regarded as a manufacturing base by global pharmaceutical companies.
Weakness
· Low investments in innovative r&d.
· Lack of resources to compete with mncs for new drug discovery research and to commercialize molecules on a worldwide basis.
· Lack of strong linkages between industry and academia.
· Lack of culture of innovation in the industry
· Low medical expenditure and healthcare spend in the country
· Inadequate regulatory standards
· Production of spurious and low quality drugs tarnishes the image of industry at home and abroad.
Opportunities
· Significant export potential
· Licensing deals with mncs for ndds
· Marketing alliances to sell mnc products in domestic market
· Contract manufacturing arrangements with mncs
· Potential for developing india as a centre for international clinical trials
· Niche player in global pharmaceutical r&d.
· Strong base of scientific as well as technical manpower and also due to pioneering work done in process development
· Supply of generic drugs to developed markets
Threats
· Product patent regime poses serious challenge to domestic industry unless it invests in research and development.
· DPCO puts unrealistic ceilings on product prices and profitability and prevents pharmaceutical companies from generating investible surplus
· R&d efforts of indian pharmaceutical companies hampered by lack of enabling regulatory requirement.
· Entrants of newer players in highly fragmented market.