More Foreign Pharma Firms Coming To India

With the economic slowdown in developed countries, several multinationalcompanies are looking at developing nations, including India, to shore up their top-lines, according to Munesh Khanna, the consulting firm Arthur Anderson's partner in Mumbai (Bombay), India.

"India, on account of its huge population, remains one of the most attractive investment destinations for multinationals corporations," Mr Khanna told the annual general meeting of the Indian Pharmaceutical & Allied Manufacturers & Distributors Association.

Indian Firms Also Looking Abroad However, on the other hand, he noted that with the declining profitability of domestic operations, Indian companies are increasingly looking on the high margins in overseas markets, he said. Mr Khanna added that companies including Sun Pharmaceuticals, Ranbaxy Laboratories and Wockhardt have acquired units abroad to speed up regulatory approvals.