India is currently the sixth and is expected to rank third in the international pharmaceutical industry in terms of incremental growth, by 2020. Presently, India accounts highest in the global exports for generic drugs. Africa imports nearly 80% of anti-retroviral therapy (ART), for the treatment of AIDS from India.
India’s cost of production is significantly lower than that of the USA and almost half of that of Europe. However, most of its Drug Master Files (DMFs) are registered in USA. Thus, the leading life-saving drugs in India are costlier.
The Government of India have recently designed a new national program, called ‘Make in India’ to facilitate investments, foster innovation, enhance skill development, protect intellectual property and build best-in-class manufacturing infrastructure. ‘Make in India’ in the pharmaceutical sector primarily contribute in reducing the cost of the medicines.
Pharmaceutical Experts, from across the globe are taken into confidence. Lupin Pharma recently plans to set up a facility to make cancer drugs at Mihan, Nagpur. Economic prosperity is likely to improve affordability for generic drugs in the market.
Union Health Minister JP Nadda recently underlined the need for innovation of new drugs at low cost which are affordable to the poorest. The minister assured to strike a balance between the commercial and medical spending.
by Shri Sumit Baradia
'An Artisan/Social Entrepreneur at The Indian Handicraft (Ministry Of Textiles, India) and Interior Architect at The InDesign'