I’ve written before about the incredible speed of the Pharma industry’s growth in India, and the future outlook continues to look very bright. While the Indian pharma market is facing some growing pains from its rapid ascension, the reality is that tightly-regulated industries experience these pains worldwide – whether first-world, third-world or somewhere in between.
Fact is, India’s rapid growth and leadership in the fast-evolving life sciences industry continues to drive confidence in the country as a pharma destination.
Wherever you may be in the world, best-in-class CROs/CMOs in India are way ahead when it comes to regulatory matters.
Knowledge From Experience.
Successfully navigating the waters of an increasingly-complex global regulatory environment can be challenging. India’s top CROs and CMOs routinely undergo inspections from regulatory agencies around the world. At Neuland, we’ve successfully undergone inspections from the US, Japan, the E.U. – and more. To be a true global supply partner we need to meet the standards of each market worldwide where our client is considering launching their product.
Navigating A Complex Global Regulatory Environment
As contract manufacturing firms, we’re called upon to thread the needle to meet sometimes-diverse global regulatory standards – requiring an intimate knowledge of each of their regulatory requirements (and how they interact with one another). This allows us to build processes and procedures that comply with all of them. It’s why clients rely on our knowledge when planning future projects.
Regulatory Excellence & Leadership
The regulatory environment in India has already undergone incredible evolution, and this trend will continue as more and more global pharma research and contract manufacturing moves or expands to India in the near-term. With best-in-class CRO/CMO providers striving to meet the highest regulatory standards (and not the lowest common regulatory denominators), integration with global pharma is becoming more and more seamless.
India-Based CROs/CMOs – Will the Growth Continue?
There’s no doubt that India has seen tremendous growth in the pharma manufacturing arena, becoming a go-to destination for life sciences companies worldwide. Some of this is attributable to the massive infrastructure expansion witnessed over the last ten to fifteen years. And while growth slowed for the Indian pharma market last year, growing demand for CROs/CMOs with highly-specialized experience in various fields – combined with lower labor costs and a massive talent pool continue to make India an appealing life sciences destination.
For a good read on where the Indian pharma industry could be heading this year, check out: ICRA expects 10-12% growth for pharma industry in 2013-14 over at moneycontrol.com.
Do you have any thoughts on the growth of pharma in India? Share them with us, below.