The Indian pharma companies are banking on global pharma outsourcing for future growth. Big names in Indian pharma industry such as Nicholas, Dr.Reddy’s are looking forward to leveraging their global strength in formulation services.
Companies such as Dr. Reddy’s are in the process of developing of active pharma ingredients and formulations for pharma companies worldwide. Novartis too has entered into an agreement with Genpact for outsourcing some of its processes. TCS too has landed up with an agreement with Novo Nordisk. As per an estimate the global pharma outsourcing is estimated to be around $35 billion and Asian companies are all set to get a bigger pie in this game.
It is expected that the share of India in the global outsourcing market is expected to cross the mark of $1billion from the current figures of $ 400 million.
