Healthcare & Life Sciences Professionals |
Regulatory Compliance Management in life sciences industry
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Activity:
Question posted: 02 21 2009 15:45:53 +0000,
2 answers, 206 views, last activity
07 06 2010 20:18:08 +0000
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You might have witnessed the changing market scenario in the Pharmaceutical Sector recently. Offlate few Pharma MNCs have launched Patent protected (research molecules) in the Indian Market, where in Indian companies are now not permitted to launch the generic versions of the same. That is the reason most of the Indian companies were launching generic versions of researched products of MNCs very frequently. Now, in the past 1 year, the launches of new molecules have declined, and Indian companies are now launching combination brands. With this trend the shift is gradually moving to R&D. But the irony is, that any Indian company does not have any researched moecule of its own till date. And the truth is that it takes substantial time to discover a new drug..close to 15 to 20 years. Although 2 or 3 of the companies have some serious research candidates (potential molecules), rest do not even have the infrastructure to discover a new molecule, which means that some years down the line, they will have to get into a new model of profit sharing or having EMR (exclusive marketing rights) with the MNCs, and in turn they will have to pay royalties to them. This means, margins shall shrink, and ultimately profitability will have to be compromised upon. Many publically listed companies, might end up in hostile or friendly takeovers by MNCs, or the owners of big companies will sell off the company to any forign Pharmaceutical company, in order to gain an entry to the Indian market. Example of this is the recent sellout of Ranbaxy to Daichi Sankyo of Japan. Some of the Indian Pharma Companies have already started exploring potential opportunities in other industries, like Ranbaxy owners have ventured into Hospital Business (Fortis) and Insurance Sectors (Religare). Gradually other Companies might follow suit, and duplicate the Ranbaxy Strategy of a Sell out. With this trend do you think Indian Pharma companies are going to survive ?
Yes no doubt.But the chances are that the promotors of indian houses may look at the commercial sense of the business and sell off their companies.Otherwise the patent is an opportunity for our companies to expand globally through research and development.Patent doesnt only mean that you have to find a noval molecule,it also covers the incremental research where because of perennial habit of reverse engineering of the patent molecule indian companies can certainly add value to the existing off-patent products.Though indian govt.till now has put clause3d in the patent act which doesnt permit the patent toincremental research.I hope a good sense will prevail and people will realize that it is in favour of our companies as well and govt.will scrap it.Also there is lot of opportunity in CRAM space.Here indian companies can join hands with global houses and pursue research trials and manufacturing for them.It will be wrong to say that it will be an easy road but then after the critical level you have to take additional resposibility to keep it going.
This is one side of the story.Actually fazal is right at one point that we have to be patient oriented so that he is served best.In pharma space we grow through innovation.We have to invest into research to give noval products to treat the diseases in the best possible manner.There are still lots of diseases that can not be treated.Specially such diseases are more in developing countries so we have the onus to innovate new therapies to deal with such health problems.And i am sure we will get success at this front too.No wonder than we will be having truly global companies from india also.
You have made the scenario very clear, that (Although 2 or 3 of the companies have some serious research candidates (potential molecules), rest do not even have the infrastructure to discover a new molecule, which means that some years down the line, they will have to get into a new model of profit sharing or having EMR (exclusive marketing rights) with the MNCs, and in turn they will have to pay royalties to them ).
Mr. Chandra, Pharma industries should not work for the profit alone, it is the industry which protects the world and humans. So every company should think of their contribution to the mankind and not their profit alone. Further, Globalization in the future is inevitable. And pharma industry should not restrict themselves as "Indian Pharma" (there is nothing such other than Ayurveda and Homeophathy). Therefore the pharma companies must rework out their strategy and should find a way out for their success.
Overall if you look in to the situation, It is the time for "Survival of the Fittest".
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