ICRAInformationServicesICRAInformationServicesICRAInformationServicesICRAInformationServicesADivisionofICRALimitedwww.icraindia.comSeptember2002ICRASectorResearchICRASectorResearchICRASectorResearchICRASectorResearchIndustryCommentIndustryCommentIndustryCommentIndustryCommentTheIndianPharmaceuticalIndustryDDDDRUGSANDRUGSANDRUGSANDRUGSANDPPPPHARMACEUTICALSHARMACEUTICALSHARMACEUTICALSHARMACEUTICALSCopyright,ICRALimited,26KasturbaGandhiMarg,NewDelhi–110001NoneoftheInformationcontainedinthepublicationmaybecopiedotherwisereproduced,repackaged,furthertransmitted,disseminated,redistributed,orresold,orstoredforsubsequentuseforanysuchpurpose,inwholeorinpart,inanyformormannerorbymeanswhatsoever,byanypersonwithoutICRA’spriorwrittenpermission.AllinformationcontainedhereinisobtainedbyICRAfromsourcesbelievedbyittobeaccurateandreasonable.Althoughreasonablecarehasbeentakentoensurethattheinformationhereinistrue,suchinformationisprovided‘asis’withoutanywarrantyofanykindandICRAinparticular,makesnorepresentationorwarranty,expressorimplied,astotheaccuracy,timelinesorcompletenessofanysuchinformation.AllinformationcontainedhereinmustbeconstruedsolelyasstatementsofopinionandICRAshallnotbeliableforanylosesincurredbyusersfromanyuseofpublicationoritscontents.Inthecourseofwork,ICRAmayhavereceivedinformationfromcompaniesbeingratedorgraded,howeverthispublicationdoesnotcontainanyconfidentialinformationobtainedbyICRAintheprocessofratingorgrading.Thispublicationcontainsdata/informationavailableonlyinthepublicdomainoravailablethroughsecondarysources.Opinionsexpressedinthispublicationarenotanindicationofprospectiverating/gradingforanyinstrumentstobeissuedbythecompany.IndustryCommentTheIndianPharmaceuticalIndustryICRAInformationServiceswww.icraindia.comPage1of29TABLEOFCONTENTSCURRENTPROFILEOFTHEINDUSTRY............................................................................................2TheIndustryValueChain....................................................................................................................2GlobalScenario...................................................................................................................................3Growth.............................................................................................................................................................3IndustryStructure............................................................................................................................................4TherapeuticSegment-wiseBreak-up...............................................................................................................5R&D.................................................................................................................................................................6Keyinternationalmarkets................................................................................................................................6IndianPharmaceuticalIndustry...........................................................................................................7MarketStructure..............................................................................................................................................8Production....................................................................
