Date: February 12, 2021 / 3:00 pm
Indian Pharmaceutical sector has witnessed phenomenal transformation over the last decade. India’s domestic pharmaceutical market turnover reached US $20.03 billion in 2019, up 9.8% year on year from US $18.12 billion in 2018.
The Indian pharmaceutical exports, including bulk drugs, intermediates, drug formulations, biologicals, Ayush & herbal products and surgical, reached US $16.28 billion in FY20. India supplies over 50% of the global demand for various vaccines, 40% of the generic demand for the United States and 25% of all medicines for the United Kingdom.
Indian drugs are exported to more than 200 countries in the world with the US being the key market. Generic drugs account for 20% of the global export in terms of volume, making the country the largest provider of generic medicines globally. It is expected to expand even further in the coming years.
‘Pharma Vision 2020’ by the Department of Pharmaceuticals aims to make India a major hub for end-to-end drug discovery. The sector received cumulative Foreign Direct Investment (FDI) worth US $16.54 billion between April 2000 and June 2020. India plans to set up a nearly Rs. 1 lakh crore (US $1.3 billion) fund to provide a boost to companies to manufacture pharmaceutical ingredients domestically by 2023.
1.Getting an overview on Indian Pharma Outlook 2021 keeping in view the Indian and Global scenario
2.Focus on increasing Pharma exports and decreasing imports of raw materials and intermediates
Key Discussion Points
- Pharma industry global and India outlook in 2021
- Redefining India's Pharma target for 2021
- Role of COVID-19 Vaccine in India's growth story
- Identifying growth drivers across key Pharma segments in 2021
- Manufacturing pharmaceutical ingredients domestically by 2023
- Opportunities generated through Production Linked Incentive (PLI) Scheme in 2021
- R&D push for novel molecules: Academia and Industry Collaboration
- Access to next generation technologies across value chain