In the last few decades, India has developed tremendously in the pharmaceutical industry by including contract manufacturing in their routine. According to S. V. Veerramani, the president of Indian Drug Manufacturers’ Association (IDMA), the sector is currently growing at a rate of 20 percent with a current market value of $5.3 billion.
- For the basic manufacture of drugs such as Bis(2-chloroethyl)amine hydrochloride of CAS number 821-48-7, India is far better than its competitors in various resources. These resources include manpower, technically-knowledgeable work force and WHO-GMP approved production premises.
- It has been estimated that patented drugs worth $85 billion in sales in the U.S. would be off patent during the period 2014 – 2020. This would boost the Indian players into the game to produce more in a cost effective manner.
- The rising cost of manufacturing and the ageing plants in Europe reaching their life cycle may pull European companies to relocate their units to India or to outsource to Indian manufacturers.
- Recently, the innovative products do not command a very huge advantage over the existing drugs such as Diethylaminoethyl Chloride Hydrochloride (Powder & 65% liquid) of CAS number 869-24-9 . Therefore MNC’s are adopting a strategy to market brands even after the product goes off patent.
- The Indian government also helps to upgrade the Manufacturing facilities to the WHO GMP complaint by providing soft loans which would bring additional 1000 units into the fold thereby corroborating the manufacturing process
The contract manufacturing concerns in India is expected to gain grounds in the near future and to grow by 17-18 percent and the improvisation of business methods may contain the manufacturing cost to a desired level.