SWOT Analysis of Indian Pharmaceutical Sector:
- Cost Competitiveness
- Well Developed Industry with Strong Manufacturing Base
- Well Established Network of Laboratories and R&D infrastructure
- Access to pool of highly trained scientists, both in India and abroad
- Strong marketing and distribution network
- Rich Biodiversity
- Competencies in Chemistry and process development
- Low investments in innovative R & D
- Lack of resources to compete with MNCs for New Drug Discovery Research and to commercialize molecules on a worldwide basis.
- Lack of strong linkages between industry and academia.
- Lack of culture of innovation in the industry
- Low medical expenditure and healthcare spend in the country
- Inadequate regulatory standards
- Production of spurious and low quality drugs tarnishes the image of industry at home and abroad
- Significant export potential
- Licensing deals with MNCs for NCEs and NDDS.
- Marketing alliances to sell MNC products in domestic market
- Contract manufacturing arrangements with MNCs
- Potential for developing India as a centre for international clinical trials
- Niche player in global pharmaceutical R&D
- Product patent regime poses serious challenge to domestic industry unless it invests in research and development.
- R&D efforts of Indian pharmaceutical companies hampered by lack of enabling regulatory requirement. For instance, restrictions on animal testing outdated patent office.
- Drug Price Control Order puts unrealistic ceilings on product prices and profitability and prevents pharmaceutical companies from generating investible surplus.
- Export effort hampered by procedural hurdles in India as well as non-traiff barriers imposed abroad.
- Lowering of tariff protection
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