On April 12, 2024, China’s Global Times published an article about Indian pharmaceutical companies aiming to dominate the global market with generic drugs for obesity treatment. This article is based on a report by Indian media on the 8th, which stated that Biocon, an Indian pharmaceutical company, plans to enter the obesity treatment drug business as the patent for Novo Nordisk’s obesity drug approaches expiration.
Current Status and Advantages of the Indian Pharmaceutical Industry
The Indian pharmaceutical industry has already established itself as the world’s largest supplier of generic drugs, leveraging its technological prowess, abundant talent, and robust basic research. Biotech firm CEO of Beijing Ming Research Pharmaceutical Co., Ltd., He Xiaobin, explains that India’s top position in the global pharmaceutical industry is due to its “developed pharmaceutical system, abundant talent, and Western-level management standards.”
According to data from the Pharmaceutical Council of India (PCI), 25% of the world’s generic drugs and 40% of the United States’ generic drugs are supplied by India, highlighting the industry’s strong supply capabilities.
Quality Issues and Challenges
However, the Indian pharmaceutical industry has also been pointed out for quality control issues. A report by the National Bureau of Economic Research found that nearly 10% of the examined Indian-made drugs had insufficient active ingredients, posing potential risks to patient safety. There have been reports of fatalities, emphasizing the urgent need for improved quality control.
Competition in the Global Market and Future Outlook
Jiang Han, a senior researcher at the Pangoal Institution, mentioned that for India to dominate the global market for obesity drugs, it needs to overcome many challenges, including technology, funding, and market access. While acknowledging India’s strengths, he noted that market diversification and differing regulatory requirements in each country make monopoly difficult. Additionally, China is also advancing its obesity drug industry, posing a significant rivalry for India.
The Future of the Indian Pharmaceutical Industry
There is keen interest in how the Indian pharmaceutical industry will develop in the global market. The extent to which India can capture market share by manufacturing and supplying generic versions of patent-expired obesity drugs will depend on future trends. Strengthening quality control and expanding market access will be key, and overcoming these challenges could lead to further growth for the Indian pharmaceutical industry, enhancing its presence in the global market.
As we observe the challenges and future of the Indian pharmaceutical industry, we also hope for advancements in health and medical care.
