India's
Contract Research Business
India is holding the Lion's share in the world's
contract research business as activity in the Pharma
continues to explode in this region. In 2005
contract research in India was valued at $100-120m
and growing at a rate of 20-25 per cent each year,
according to a report by the Chemical Pharmaceutical
Generic Association.
India
holds
nearly
double
the
business
of its
nearest
rival,
Italy,
with a
market
value of
$60-70m,
and
nearly
four
times as
much as
the next
competitor,
Spain, |
|
with $25-33m. India is streets ahead of its
nearest Asian competitor, China, which currently
only reaps in $23-28m in business.China is better known for its cheap
manufacturing
abilities, and is still currently held back in the
contract research business by its weaknesses in
process know-how, as well as its chemical synthesis
abilities, compared with India, in addition to
ongoing International fears over intellectual
property.
Labour costs in India are around 1/7th the levels in
developed countries. Benefits such as availability
of skilled labour at low cost, capital efficiency in
setting up World-class facilities in line with USFDA
norms at a reduced cost of 25-50 percent due to
access to locally fabricated equipment and high
quality local technology & engineering are passed on
directly to MNCs seeking to market drugs at lower
cost.
ATLAS Laboratories &
Pharmaceuticals
Ltd. plans to be involved in the development of
newer variants of the latest drugs in with the
latest International trends. |
