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Why millions of people are alive thanks to affordable Indian generics

India is now the world's largest provider of generic drugs to worldwide markets

indian generic drugs sales growth graph

India is now 4th biggest generic drug producer in the world and has 20% of the global generic drug market

BRIC countries such as Brazil, Russia, India, China together with Mexico and Turkey are continuing to show strong growth in the generic drugs market. For example, Indian generics manufactured in India are already help millions of people reduce their healthcare costs by providing generic drugs at a significant discount to US brand counterparts.

Indian drug manufacturers currently export their products to more than 65 countries worldwide.Their largest customer is the U.S., the world's biggest pharmaceutical market.

Within the next 5 years emerging markets such as Brazil, Russia, India, China, Mexico and Turkey (BRIC-MT countries) are anticipated to account for $190 billion in sales growth, with approximately 40% from innovative drugs.

Why are Indian generics so popular?

“Thanks to the dexterity of the pharmaceutical industry, the presence of a huge number of trained chemists and a large domestic market, drugs are incredibly cheap in India, and India is one of the greatest producers of generic drugs,” said Sumit Ganguly, professor of political science at Indiana University.

India is a shining light in the global pharmaceuticals industry with its unique blend of low-cost manufacturing, R&D infrastructure and skilled workforce. Foreign companies are also attracted to India’s production costs, which are significantly lower than in the U.S. and almost half that of Europe.

India’s ability to manufacture low-cost generics also stems from economic factors favoring the industry, including competitive land rates, cheap labor, low-cost utilities and affordable equipment.

Improvements to Indian generics drug safety

As overseas companies manufacture drugs in India and market them around the world, they must still ensure their products meet the strict quality contorl standards set by their target country markets.

On this note, India’s Pharmacopoeia Commission of the Ministry of Health and Family Welfare continues to increase medicine quality standards to help promote the growth of the pharma sector and improve public health.

The Indian pharma industry has made significant investments in improving its manufacturing plants to meet international standards such as U.S. Food and Drug Administration (USFDA), according to a 2015 report from Deloitte.

The FDA maintains 2 Indian inspection offices and has approved around 600 manufacturing facilities so far.

Massive number of Indian FDA inspected manufacturing plants

Amazing facts :

  1. India now has the most number of FDA inspected manufacturing plants outside the USA.
  2. The cost of establishing an FDA-inspected plant in India is approximately 50% percent less than it would be in developed countries.
  3. Operation and production costs run 40%-70%lower than in developed nations (factors include local equipment sourcing, tax incentives and a focus on process innovation) and labor costs are on average 60% to 70% less than developed countries such as America.

To understand more about Generic Drugs, please visit our Generic Drug Information Center that will help answer many of your questions or concerns.

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