The future of innovation in India’s drugs and pharmaceutical industry—part I

Abstract

The Indian pharmaceutical industry is ranked 3rd globally by volume and 11th by value and is the world’s largest supplier of generic drugs and low-cost vaccines. The industry is transitioning from a manufacturer of generic drugs, biosimilars, vaccines, and active pharmaceutical ingredients to an innovation-driven sector by increasing research and development expenditure and activities in novel therapeutics and biologics, advancing manufacturing, and leveraging expertise in affordable biosimilars. The study examines whether the industry is evolving into a developer and manufacturer of novel medicines and whether Indian companies can eventually discover, develop, and launch innovative drugs to achieve blockbuster sales. The central challenge to becoming a blockbuster drug manufacturing country lies in its ecosystem. Part I explores how developed nations have built their ecosystems over many decades. Part II examines how India and its pharma industry are advancing towards new drug discovery and how far the country is, from becoming a blockbuster drug hub.