Opportunities In The Indian Pharma Market?

27 January 1997

Previous experience has led multinational pharmaceutical companies tocast a jaundiced eye on India in general and also on its basic research capabilities. "They should reconsider," advise consultants at McKinsey & Co, writing in the latest McKinsey Quarterly review.

The authors of the report are Rajesh Garg, in McKinsey's New York office, Gautam Kumra and Asutosh Padhi in the New Delhi office and Tino Puri in Mumbai.

Protectionist policies introduced by the Indian government in 1970 hit profits hard, the authors note, and companies have been further deterred by the lack of intellectual property rights. As a result, multinationals now have just 30% of India's pharmaceutical market, compared with 80% some 25 years ago.

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