India's Pharmaceutical Success

The Indian economy is largely a service-based one. And the past few years has only seen that trend intensify. With one big exception: Pharmaceuticals.

India has the third largest pharmaceutical industry by volume and the 11th largest by value - as of 2020. And it is growing extremely fast. India is the world's largest provider of generic drugs. The United States relies on India for 40% of its generics.

In 2020, they exported $16 billion more of pharmaceuticals than they imported. These exports meet the strict standards and regulations of many countries around the world. India's pharmaceutical industry is legit.

The story of how this industry came about is an interesting one. In this video, we look at how the Indian pharmaceutical industry started out as mere copycats, but then evolved throughout the value chain to become a global leader.

Links:

[EdwardPlantagenet]

Big time was When India Produced Generic drugs for HIV at $2.
Earlier it's cost was $7000.
It helped Majorly African countries & also India.

[rj]

Ask the African nations how beneficial Indian drugs mattered when the Aids epidemic was waging, the western drugs were so expensive none could afford it, enter Indian generic 's suddenly the price plummeted, the entire contingent was able to fend it off effectively helped by WHO who r the biggest proponents of Indian drugs .

[nickhilpatil]

Insulin vial costs less than $10 in India. Some of them are even as cheap as $5. Exactly same vial costs about $300 in USA . Saving lives of people is far more important than filling pockets of big pharma.

[harukrentz]

as an Indonesian i want to thank India for helping us during the pandemic with their shipments of vaccine. when the biggest lecturer of human rights aka west countries failed to live up to their words, our asian brothers came to help us in the most critical time. much appreciated.

[nilnil]

It breaks my heart that the big pharma industries of Western nations have a stranglehold over the most crucial life saving drugs, in India maybe were poor but even the poorest of poor have access to all the life saving drugs for free (at government facilities) or at a fraction of the cost (few cents).

[sagarmeena]

A lot of countries cant afford to pay for Big pharma drug in Africa, South America, SE Asia depends on India for medicine & vaccines.

[nilnil]

Any stable nation with enough government backing and a cheap labour market can do wonders in any field. India has become a super power in pharmaceutical and IT sector, while neighbouring Bangladesh in garment manufacturering, China in Tech industry and Pakistan in terrorism.

[PalCan]

As a pharmacist working in Canada, I can tell you that we have begun to feel the impact of Indian pharmaceutical exports locally. They have left local generic drug manufacturers in the water when it comes to competitive pricing and landing on provincial drug formularies. They are competitive and we are becoming more and more reliabt on India's generic drugs and in turn on China's APIs. Many of these molecules have become "single supplier molecules" as there exists no other healthy competitor.

[bodaddy]

when no other country especially the white countries refused to help us ..india sent free medicines for us ..love and support india

[dav]

An admirable Indian success story; it should be done in other industries.

[KanishQQuotes]

The best thing is that India has several different companies instead of a monopoly of a few large conglomerates.
Several of these companies have also diversified into consumer goods and cosmetics.

[luchalibre]

Asia needs peace and stability, we don't need another stupid wars in our borders.
Asia needs economic growth and a healthy competition among us.
Much love and respect from Indonesia.

[mauricioramirez]

Let's not forget the people who participated in the bio-studies to prove the safety and effectiveness of a variety of products which made success possible.

[DavidvanDeijk]

Discovery is often not done by the pharma companies, but by universities (with public money), then pharma buys the discovered IP if it works in vitro.

[rohanindra]

Your point about India needing to reduce dependence on China has been partially answered by a recent govt policy called PLI’s (production linked incentives). They cover many fields including API’s (active pharma ingredients) where China has a near monopoly vis a vis India. The policy aims to provide credits to manufacturers commensurate to sales to help plug the cost gap with China. Interesting you didn’t talk about India’s role and success with manufacturing covid vaccines, particularly Astrazeneca which is mass manufactured in Pune. Insightful video overall!!!

[maigepresents]

My Uncle was the head of R&D at Dr Reddys for almost 3 decades, lived through the revolutionary change in the pharmaceutical market in India. The man is a genius

[prateek]

Serum institute of India is worlds largest vaccine manufacturers
And because of that India has been able to produce 2 billion covid vaccine

[amadeussocal]

A well researched video. I just cautiously optimistic that one day India will replicate its Pharma success to Electronics and Chip manufacturing as well.

[Kapil__Lanjewar]

I think it's next to impossible to replicate such patent reforms in Electronics Manufacturing sector in India 🇮🇳. Recently government has received positive response after the introduction of PLI (Production Linked Incentive) scheme. Let's see how it pans out.

[millevenon]

India needs full independence in solar panel manufacturing and pharmaceuticals