It would not be wrong to describe the drug segment in India in this condition. Naturally, the audacious faces of the drug industry may not denounce this reality. Even so, given the superfluity of regulatory warning letters and import alerts that various drug companies in the industry have obtained over the last 4 to 5 years, without doubt ,questions are confine to be placed to the companies in the drug segment. At the same time domestic business operations continuing at full strength, manufacturing for exports has taken a hit from the increased regulatory inspections by the drug authorities functionaries. One starts to wonder whether drug companies in India have been strident breakers of current good manufacturing norms. Definitely it can’t be, indeed everybody agrees. However, if the confederacy ideologues neglected, the reality stays that there are stimulating situations of abidance and making a coherent culture of quality.
While the pharma stock market has witnesses major drop in recent days, amongst the highly impacted are large biopharma players, where at one stage in last year, the combined fall in their market capitalization was above Rs. 99 K Crs. This effect was the raised United States Food and Drug Administration inspections on Indian pharma market leaders alike Cipla, Wockhardt, Sun pharma and many other companies. Analysts have exerted that the intrinsic capacities of the major players is not in doubt however what is vitally necessary is the power to quickly get over from such setbacks.
A lot is at impaling. Industry reports show that pharma companies from India add approx 30 % (by volume) and 10 % (value) in the United States generic market therefore making Indian companies a substantial comportment in the US pharmaceutical generic market.
Let us view one thing that well-nigh all industries confront untoward public inspections from time to time – couple of industries always in the news frequently are the Auto firms and financial industries; the drug segment should not turn the next dashing baby of regulators. The essentiality and quality of the segment is such that their medicines and services are completely considered as contributing to patient’s health and well being. Warnings or notices from drug regulatory authorities and concomitant bad campaign not only strikes the financial line of a company however also eats away sureness and trust in the biopharma segment as a whole.
This is difficult to analyze or understand landscape at this movement and created more so given the unique technological challenges of biopharma business. Certainly, a reason worth crusading for?
For many years pharmaceutical segment having the identity with “Make in India”’ program. Isn’t it movement to release the human capital of the segment to work up or form and increase a culture of quality in all the aspects? Let the policy makers and industry leaders speculate and create a highly crucial piece of their docket.