Domestic formulations industry to grow by 10-12 per cent in 2013-14
Driven by generic opportunities in the US, the formulation industry in the US is expected to grow by 10-12 per cent in 2013-14.
Mumbai, July 7, 2013: The domestic formulation industry in India is expected to grow by 10-12 per cent in 2013-14, primarily because of the generic opportunities in the US, according to the rating agency ICRA.
The report also mentioned that the Indian pharmaceutical industry would continue to experience strong growth in the near-term though there will be some moderation in the growth trajectory.
Generic companies are increasingly focusing on expanding presence in relatively under-penetrated markets (links France, Spain & Italy). This trend is also expected to fuel the growth of the domestic formulations market.
According to the report, in addition to the US generics, the emerging markets present one of the most promising growth opportunities for the Indian pharma companies.