How India has managed to keep the costs of generics medicine low?

How India has managed to keep the costs of generics medicine low

How India has managed to keep the costs of generics medicine low?

The Indian pharmaceutical industry has seen a spectacular rise and has come a long way from being unknown after independence to making its presence felt at a global level.

 

India is known as ‘the pharmacy of the third world’ and is one of the largest producers of generic medicines globally.

 

It is a controversial issue, with big MNCs rallying for stringent patent laws, which as a result would lead to greater profits. But instead of all this, Indians, with their reverse engineering skills are able to manufacture drugs at an extremely low cost.

 

  • There is huge demand of medicines in India and even after selling the drugs at low costs, companies make a good profit.
  • The overall cost of production in India is about 38%-42% of that in the US. This is because the manufacturing and installation cost in India is lower than what it is in the US.
  • India follows the process of compulsory licensing that allows production of affordable low-cost generics that can be exported to other countries.
  • The Indian government regulates the price of about 700 key medicines, hence reducing their overall cost.
  • By exporting drugs in bulk and some APIs (active pharmaceutical ingredients) Indian companies make decent revenue. These drugs are also estimated to grow at an average rate of 12-15% by 2018-2019.
  •  

Tags: Pharmaceutical Industry | Generic Medicine

Our App

Contact Us

Address : 4216/20, Ground Floor, 1 Ansari Road, Daryaganj, New Delhi - 110002 (India)

sales@oddwayinternational.com

QQ : 1523458453@qq.com

Phone : +91-11-43526658

Mobile : +91-9873336444

Skype : Oddway2010

WeChat : Oddway2010

WhatsApp : +91-9873336444

Viber : +91-9873336444

Oddway International is a Pharmaceutical Exporter & Supplier of Generic Medicine and Online Pharmacy Distributor in India...Read More