Even with the slow growth rate, Indian companies are leading the way when it comes to neglected diseases
The BioPharma segment recorded a revenue of Rs 15, 853 crore. Here are some of the major highlights:
In FY 2013-14, the segment recorded the growth of close to 10 percent. The overall segment did witness exciting times as the sentiment was upbeat due to success of the low cost Rotavirus vaccine program, now being looked at as a major success story.
Serum Institute of India is the largest BioPharma company with almost 22 percent share of the entire BioPharma market of Rs 15,853 crore. Biocon accounts for 15 percent market share. The company is estimated to have supplied more than Rs 2000 crore worth of vaccines to UNICEF, making it the largest supplier globally.
In FY14, several Indian drug makers were pulled up by the USFDA for noncompliance with current Good Manufacturing Practices (cGMPs).
Indian companies are also leading the way, when it comes to neglected diseases. Panacea Biotec is in the early stages of development of a tetravalent dengue vaccine. Indian Immunologicals has also been pooling its efforts into developing vaccines for neglected tropical diseases
such as chikungunya and kala azar. They are also concentrating efforts on an oral cervical cancer vaccine, a first from the developing world, thus offering its affordability for the masses.