India to Dominate Global Phama Markets by R&D Endeavours

The Indian pharmaceutical industry is poised to establish a robust presence in domestic international markets, placing great emphasis on research and development (RandD) endeavours. In order to surpass intense competition and strict approval regulations in heavily regulated markets, Indian pharmaceutical companies are increasingly allocating funds to research and development endeavours. Additionally, they are emphasizing cost-effective methodologies, enhancing quality, as well as forging partnerships and collaborations.They have developed a strong capacity for sustainable research and development, enabling them to consistently produce a range of new molecules and biosimilars. These players have strategically positioned themselves in anticipation of the upcoming patent expiration.Over the past few years, the Indian pharmaceutical industry has significantly increased its impact on the global export of generic drugs, experiencing a notable surge in exports. The domestic and global market is witnessing a surge in the demand for over-the-counter medication, generics, and branded pharmaceuticals.These research and development (R&D) focused companies are constructing a varied collection of distinct products in the fields of generic drugs, intricate generic drugs , biologics, and novel chemical entities (NCEs). These companies revolutionized the market by introducing cutting-edge products to address unmet healthcare needs. Their offerings encompass vaccines, therapeutics, biologicals, and biosimilars, spearheading a new era of innovation in the healthcare industry.During the first nine months of September 2023, Indian pharmaceutical companies secured an increased number of Abbreviated New Drug Applications (ANDA) approvals from the US Food and Drug Administration (FDA). During this period, the US FDA has granted approval to a total of 618 ANDAs, which is an increase from the 570 ANDAs approved during the corresponding period last year. A total of 284 ANDA approvals were granted to Indian companies and their subsidiaries, accounting for 46% of all approvals.