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Introduction
India is the largest provider of generic drugs globally. Indian pharmaceutical sector
industry supplies over 50 per cent of global demand for various vaccines, 40 per cent of
generic demand in the US and 25 per cent of all medicine in UK.
India enjoys an important position in the global pharmaceuticals sector. The country
also has a large pool of scientists and engineers who have the potential to steer the
industry ahead to an even higher level. Presently over 80 per cent of the antiretroviral
drugs used globally to combat AIDS (Acquired Immune Deficiency Syndrome) are
supplied by Indian pharmaceutical firms.
Market Size
The pharmaceutical sector was valued at US$ 33 billion in 2017. The country’s
pharmaceutical industry is expected to expand at a CAGR of 22.4 per cent over 2015–
20 to reach US$ 55 billion. India’s pharmaceutical exports stood at US$ 17.27 billion in
FY18 and have reached US$ 19.14 billion in FY19. Pharmaceutical exports include bulk
drugs, intermediates, drug formulations, biologicals, Ayush & herbal products and
surgicals.
Indian companies received 304 Abbreviated New Drug Application (ANDA) approvals
from the US Food and Drug Administration (USFDA) in 2017. The country accounts for
around 30 per cent (by volume) and about 10 per cent (value) in the US$ 70-80 billion
US generics market.
India's biotechnology industry comprising bio-pharmaceuticals, bio-services, bio-
agriculture, bio-industry and bioinformatics is expected grow at an average growth rate
of around 30 per cent a year and reach US$ 100 billion by 2025.
Between Jul-Sep 2018, Indian pharma sector witnessed 39 PE investment deals worth US$
217 million.
Investment (as % of sales) in research & development by Indian pharma companies*
increased from 5.3 per cent in FY12 to 8.5 per cent in FY18.
In 2017, Indian pharmaceutical sector witnessed 46 merger & acquisition (M&A) deals
worth US$ 1.47 billion
The exports of Indian pharmaceutical industry to the US will get a boost, as branded drugs
worth US$ 55 billion will become off-patent during 2017-2019 .
Government Initiatives
In October 2018, the Uttar Pradesh Government announced that it will set up six pharma
parks in the state and has received investment commitments of more than Rs 5,000-6,000
crore (US$ 712-855 million) for the same.
The National Health Protection Scheme is largest government funded healthcare
programme in the world, which is expected to benefit 100 million poor families in the
country by providing a cover of up to Rs 5 lakh (US$ 7,723.2) per family per year for
secondary and tertiary care hospitalisation. The programme was announced in Union
Budget 2018-19.
In March 2018, the Drug Controller General of India (DCGI) announced its plans to start a
single-window facility to provide consents, approvals and other information. The move is
aimed at giving a push to the Make in India initiative.
The Government of India is planning to set up an electronic platform to regulate online
pharmacies under a new policy, in order to stop any misuse due to easy availability.
The Government of India unveiled 'Pharma Vision 2020' aimed at making India a global
leader in end-to-end drug manufacture. Approval time for new facilities has been reduced
to boost investments.
The government introduced mechanisms such as the Drug Price Control Order and the
National Pharmaceutical Pricing Authority to deal with the issue of affordability and
availability of medicines.
Road Ahead
Medicine spending in India is projected to grow 9-12 per cent over the next five
years, leading India to become one of the top 10 countries in terms of medicine
spending.
Going forward, better growth in domestic sales would also depend on the ability of
companies to align their product portfolio towards chronic therapies for diseases such
as such as cardiovascular, anti-diabetes, anti-depressants and anti-cancers that are on
the rise.
The Indian government has taken many steps to reduce costs and bring down
healthcare expenses. Speedy introduction of generic drugs into the market has
remained in focus and is expected to benefit the Indian pharmaceutical companies. In
addition, the thrust on rural health programmes, lifesaving drugs and preventive
vaccines also augurs well for the pharmaceutical companies.
iNFOGRAPHIC
REPORTS
Indian pharmaceutical sector industry supplies over 50 per cent of global demand
for various vaccines, 40 per cent of generic demand in the US and 25 per cent of
all medicine in UK. India contributes the second largest share of pharmaceutical
and biotech workforce in the world. The pharmaceutical sector in India was
valued at US$ 33 billion in 2017. India’s domestic pharmaceutical market
turnover reached Rs 1,29,015 crore (US$ 18.12 billion) in 2018, growing 9.4 per
cent year-on-year (in Rs) from Rs 1,16,389 crore (US$ 17.87 billion) in 2017.
The Indian pharmaceuticals market stood at Rs 1.39 lakh crore (US$ 19.89
billion) for the year ending November 2019 with Lupin, Mankind Pharma, Intas
Pharmaceuticals and Alkem Laboratories leading the growth. Indian pharma
companies received a total of 415 product approvals in 2018 and 73 tentative
approvals. Affordable medicines under the Pradhan Mantri Bhartiya Janaushadhi
Pariyojana (PMBJP) have led to savings of Rs 1,000 crore (US$ 143.08 million)
for Indian citizens in FY19.
With 71 per cent market share, generic drugs form the largest segment of the
Indian pharmaceutical sector. Based on moving annual turnover, Anti-Infectives
(13.6 per cent), Cardiac (12.4 per cent), Gastro Intestinals (11.5 per cent) had
the biggest market share in the Indian pharma market in 2018.
Indian drugs are exported to more than 200 countries in the world, with the US as
the key market. Generic drugs account for 20 per cent of global exports in terms
of volume, making the country the largest provider of generic medicines globally
and expected to expand even further in coming years. Pharmaceutical exports
from India, which include bulk drugs, intermediates, drug formulations,
biologicals, Ayush & herbal products and surgicals reached US$ 19.14 billion in
FY19 and US$ 10.8 billion in FY20 (up to November 2019). The exports are
expected to reach US$ 20 billion by 2020. In FY18, 31 per cent of these exports
from India went to the US. Healthcare sector witnessed private equity investment
of US$ 1.1 billion with 27 deals in first half of 2019.
Medical devices industry in India has been growing 15.2 per cent annually and
was valued at US$ 5.2 billion in 2018 and expected to grow US$ 8.16 billion by
2020 and reach US$ 25 billion by 2025.
HISTORY
Johnson & Johnson is an American multinational medical devices,
pharmaceutical and consumer packaged goods manufacturer founded in 1886. Its
common stock is a component of the Dow Jones Industrial Average and the company is
listed among the Fortune 500.
Robert Wood Johnson served as the first president of the company. He worked
to improve sanitation practices in the nineteenth century, and lent his name to a hospital
in New Brunswick, New Jersey. Upon his death in 1910, he was succeeded in the
presidency by his brother James Wood Johnson until 1932, and then by his son, Robert
Wood Johnson II.
CHAIRMEN
1959- Johnson & Johnson vision care, Inc, begins as frontier contact lenses,
based in buffalo New York. A few years later, the company moves to Jacksonville,
Florida, U.S.A. 1981- Johnson & Johnson acquires frontier, and in 1982 changes the
US company name to VISTAKON. 1997- Johnson & Johnson announces it will be
adding UV (ultraviolet) protection to its entire line of ACUVUE® disposable contact
lenses. The new enhancement will be a standard feature in all ACUVUE® contact
lenses.
In the year 2006 working mother magazine named Johnson & Johnson in best 100
places to work for mother.
Fortune magazine ranked Johnson & Johnson in 9th position in overall industry and
also listed it in the American most admired companies in 2006.
In the year 2007 Johnson & Johnson received the spark award for the new packing
and advertising campaign.
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