Grown from strength to strength in the last few years, the Indian Pharmaceutical market ranks third in pharmaceutical production by volume. By ensuring continuous availability of critical life-saving medicines and affordable vaccines, the Indian pharmaceutical industry has shown tremendous resilience in responding to the Covid-19 pandemic. Needless to say, this industry has significantly contributed towards improving public health, both in India and across the globe.
Given the brief background, this article aims to discuss the next set of key avenues which would feed the growth engine of this industry. This article also sets out some of the key potential developments and challenges that we expect for this industry in the coming year.
Draft Drugs, Medical Devices & Cosmetics Bill, 2022
One of the key regulatory developments in relation to the pharma industry has been introduction of the Drugs, Medical Devices and Cosmetics Bill, 2022 by the Ministry of Health and Family Welfare, Government of India for public consultation on July 8, 2022 (Drugs and Cosmetics Bill). Considering the public comments and suggestions on the Drugs and Cosmetics Bill, the draft may undergo further changes before being introduced in the Parliament, which will hopefully be in the next year.
Please click here to read the full article by Upendra Nath Sharma and Ksanjana Chana, published in Pharmabiz.
Upendra’s practice primarily covers mergers, acquisitions, joint ventures, private equity, restructuring, corporate commercial, and anti-corruption matters.