India is the 3rd largest producer of medicines in terms volume and it is rising at a steady pace. The biopharma market has viewed the entry of many international players as well as rise of many domestic producers. After the new government formation, the biopharma sector has been given a major encouragement with the initiatives like ‘Make in India’ and ‘Swach Bharat Abhiyan’. Thus with contrives to make India a superpower and improve the biopharma market, the Government of India is on the right way for now. Therefore what does this entail for the drug sector?
This for drug industry is a very positive mark however there are certain challenges for pharmaceutical players in the country and these challenges are:
Good manufacturing practices (GMP) and Compliance: Issues
In some manner these are always been a problem for the drug companies. The current going bruit that the USFDA (United States Food and Drug Administration) is trying to block the growth of the Indian drug firms.