The biopharma segment continued to account for the largest share of the biotech industry revenues. In 2008-09, the biopharma sector had a 65 percent share of the total pie with revenues of $1.67 billion (Rs 7,883 crore).
The global trend that dominated the industry dynamics in 2008 was bigger biotech companies getting acquired, while the small and medium companies signing partnership deals.
Globalization in biotech is largely India-centric. In the future, India will be a part of the global market and will be a part of the pie across the value chain. There will be a lot of marketing alliances where companies abroad can come and Indian companies will play the role of contract sales organizations (CSOs). Lastly on the globalization front, it will not just be about business opportunities but capability development that will expose India to actively learn the expertise of the partner.
It has been a cohesive approach where Indian government is taking some very interesting initiatives with the help of Indian state governments who have been keen to encourage pharmaceutical and biotech companies to establish in their region, with various PPP and incentives initiated to achieve this.
These governmental investments in initiatives and infrastructure have assisted India’s rise to prominence in the global pharmaceutical market.
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