India’s pharmaceutical market is highly attractive to drugmakers but it also has several negative characteristics. Combined sales of over-the-counter (OTC) and prescription medicines are expected to grow rapidly and out-of-pocket spending predominates. The key drawbacks are the risk of more compulsory licences, lack of data protection, narrow standards for patentability, a considerable backlog of unexamined patent applications, government price controls on medicines, barriers to foreign direct investment (FDI) and unfavourable import policies.
Headline Expenditure Projections
Risk/Reward Rating: India’s Q212 Pharmaceuticals Risk/Reward Rating (RRR) rating of 56.0 out of 100 is unchanged from Q112. However, the country’s ranking has increased from 10th out of 18 countries in the Asia Pacific region to ninth due to a decrease in New Zealand’s score from 56.3 to 53.9. India scores highly for the absolute size of its pharmaceutical market, as well as projected growth, but it is let down by low annual per capita spending on medicines.
Key Trends And Developments
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