| | JULY 20168Consultants ReviewBy Dhileep Krishnamurthy, Vice President & Global Head - API R&D, Piramal Enterprises LimitedThe past century has witnessed a giant leap in terms of innovations in life sciences that led to continuous growth in the pharmaceutical and bio-tech market. Today, this industry is making a significant contribution in curing, and preventing life threatening diseases that target not only humankind but animals too. It is estimated that the global pharmaceutical market will be valued at around US$1.6 trillion by the year 2020.As we are moving into third decade of this 21st century, the solutions to satisfy unmet needs for pharmaceutical products in developed and developing world are becoming increasingly complex Importance of Pharma and Biotech in Today's MarketThe Piramal Group, a US$4bn diversified global business conglomerate, has operations in over 30 countries and brand-presence across 100 markets around the world. Dhileep Krishnamurthy has over 20 years of scientific and R&D leadership experience in academic, multinational big pharma and generic pharmaceutical companies in synthetic organic and process chemistry.and challenging. For example, today overall pharma industry is investing twice as much as in R&D as it was a decade ago, yet it is producing only two fifth of the new medicine it produced back then. This could be attributed to the fact that for past two decades scientists in pharma industry diverted their focus from natural products based drug design to unproductive combichem technologies that focused on quantity of compounds rather than the quality along with continued stringent regulatory policies for safety and lack of understanding of so called translational medicine. Other factors that have impacted the revenue growth include patent expiry of blockbuster drugs, thinner drug pipeline, continuously increasing drug development costs and reducing exclusivity period due to aggressive generic penetration.Evaluation of Pharma and Biotech market in Indian MarketToday, Indian pharma and biotech market focuses on following three areas. (1) Generic and bio-similar market (2) Contract research, manufacturing and clinical services and (3) Innovative NCE R&D based pharmaceutical sector.Among these, generic market is the most mature as the government began to encourage the growth of India already has extremely good consultants in the area of finance, legal, general administration, strategic marketing and operational excellence however there seems to be a gap for consultants who can provide guidance to R&D and technology for strategy and execution in generic and CRAMS industriesIN MY OPINION
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