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As of 2023, the Indian pharmaceutical industry is the world's 13th largest by value and third largest in the world by volume. [8] The industry produces over 60,000 generic drugs in different 60 therapeutic categories. [8] India's revenue from pharmaceutical exports was $25.3 billion in the 2022-2023 financial year. [7]
Gujarat accounts for a minimum of 28% of India's pharma exports, with exports totalling $5.36bn in 2018–19, up from $4.83bn the previous year. The Indian pharma industry has bounced back with an estimated export value of $19.15bn in 2018–19, an increase of 10.85% over the previous year.
India will make it mandatory for drugmakers to audit their raw material suppliers at least once a year, according to a government document, tightening rules after India-made cough syrups were ...
The industry's various subdivisions include distinct areas, such as manufacturing biologics or total synthesis. The industry is subject to a variety of laws and regulations that govern the patenting, efficacy testing, safety evaluation, and marketing of these drugs. The global pharmaceutical market produced treatments worth a total of $1,228.45 ...
The company's first international move took it to Russia in 1992. There, Dr. Reddy's formed a joint venture with the country's biggest pharmaceuticals producer, Biomed.They pulled out in 1995 amid accusations of scandal, involving "a significant material loss due to the activities of Moscow's branch of Reddy's Labs with the help of Biomed's chief executive". [8]
The Indian Pharmaceutical Alliance (IPA) is an association of domestic Indian pharmaceutical companies. IPA was founded in August 1999 by Dilip G Shah and six Indian drugmakers: Cipla , Dr. Reddy's , Lupin , Piramal , Ranbaxy , and Wockhardt . [ 1 ]
A variety of organizations and groups that are working in this sector and promoting new revolutionary spectrometry technology and products is another beneficial component of this domain. Asia-Pacific has a strong research base for creating novel pharmaceuticals, hence this industry is expected to develop the fastest worldwide.
Sun Pharmaceutical Industries Ltd. was established by Dilip Shanghvi in 1983 in Calcutta, West Bengal with five psychiatry products and a two-person marketing team. Today it is ranked number one in share of prescriptions with 12 classes of doctors in India and a market leader in Psychiatry, Neurology, Cardiology, Orthopaedics, Gastroenterology, Nephrology, Diabetology, Dermatology, Urology ...