The pharmaceutical industry finds, develops, makes, and sells pharmaceutical drugs that can cure patients, protect them from diseases, or make them feel better.
In the last 20 years, the pharmaceutical industry has dramatically improved public health in India and worldwide. Even though lockdowns and restrictions were put in place all over the country when the COVID-19 pandemic started, the business world quickly pulled together its resources to deal with the disruptions in the supply chain.
The Indian pharmaceutical industry has shown that it is reliable, committed, flexible, and has much potential for the future in health care.
History and Evolution of the Indian Pharmaceutical Industry
When India was independent in 1947, the pharmaceutical industry was worth about Rs. 10 crores. Between 80% and 90% of the Indian pharmaceutical market was controlled by multinational corporations (MNCs) from the West.
At the time, about 99% of India’s patented pharmaceutical products were owned by foreign companies, and Indian drug prices were among the highest in the world.
On March 9, 1948, India’s first central pharmacy council set up rules for education in the pharmaceutical sector.
The Central Drug Research Institute, Lucknow, is one of the national research labs run by CSIR. It opened in 1951 to promote drug research in general and test and standardise drugs using approved methods.
India’s first patent law(process patenting of drugs ) after it became independent was passed in 1970. By 1990, India had achieved complete independence in the manufacturing of formulations and was very close to gaining independence in the production of bulk pharmaceuticals.
Pradhan Mantri Jan Arogya Yojana (PMJAY), an ambitious reform to the Indian health system, was launched in March 2018.
Its goal is to provide financial health protection for 500 million of the most vulnerable people in India and to stop the slide of 50–60 million Indians into poverty each year due to medical-related expenditures.
Consequently, low-income people across the nation now have far more access to medical procedures previously out of their price range.
Ultimately, it was responsible for expanding the patient pool available to the pharmaceutical and medical device businesses.
Impact of the Indian Pharmaceutical Industry on Healthcare
The past ten years have been a time of rapid transformation throughout all sectors of the economy, including the pharmaceutical industry in India.
Pharmaceutical corporations in India have always emphasised significant emphasis on the position of the Medical Advisor throughout their history.
India is a significant contributor to the production and distribution of therapeutic goods worldwide, earning it the nickname “Pharmacy of the World.”
India is currently ranked as the fourth-largest exporter of formulations in the world and the tenth-largest in terms of value.
A. Development of new drugs and treatments
“Innovative drug discovery” has been done differently by large Indian pharmaceutical companies.
Indian drug companies have also made a name for themselves in the field of “biotherapeutics” by making “biosimilars.”
Biosimilars are new versions of innovative biotherapeutic products whose patents have run out that have been approved by the government.
With LIPAGLYN, India’s first NCE (National Chemical Entity) to reach the market, Zydus makes a big step forward.
The US Food and Drug Administration (FDA) gave Zydus Lifesciences’ (formerly Zydus Cadila’s) saroglitazar (also known as Lipaglyn) a fast-track designation in December 2020 so that Lipahglyn could be used to treat people with PBC (Primary Biliary Cholangitis).
In January 2021, the drug was also named an orphan drug.
India started the world’s largest vaccination drive against coronavirus in January 2021. Three hundred million people in priority groups were vaccinated (COVID-19). At first, the Government of India looked at two vaccines, COVAXIN and COVISHIELD. It gave them access to a large number of people. As of today, India has vaccinated more than 207,993 people against COVID-19.
B. Access to medications
Pharmaceutical companies are selling more to online pharmacies or e-stores than they used to. India needs help getting drugs at reasonable prices because branded generic drugs cost much more than their unbranded counterparts.
In 2008, the Jan Aushadhi scheme was started to make it feasible for people to get good medicines that are also affordable.
The most important part of this plan was getting the government to help set up drug stores and offer cheaper drugs to consumers.
Read more – 5 Best Ways To Save Money On Medicine Through Online Pharmacy
C. Cost of medications
All people, but especially the poor, need to be able to afford medicine to get medical care. In consultation with experts, the Health Ministry periodically makes a National List of Essential Medicines (NLEM).
Price controls apply to about 14 per cent of drugs by value and 25 per cent by volume.
Read more – How Online Pharmacies Help You Save Time, Effort, And Money
Conclusion
The pharmaceutical sector is built on skills, and for it to thrive, it will require people with those skills. Aside from that, a few foreign pharmaceutical companies are setting up their headquarters in India for regulatory and clinical trial needs, which is another thing that is making it easier for Indians to find jobs. By uploading your prescription to the Truemeds app, you can order branded and generic medications. When you acquire drugs online, you can save money by selecting an alternative or generic drug recommended by Truemeds experts. You can save up to 72% off your purchase and get free home delivery in India.
References
- A Saga of 75 Years of Indian Pharmaceutical Industry. (n.d.). PharmaTutor. https://www.pharmatutor.org/articles/saga-of-75-years-of-journey-of-indian-pharmaceutical-industry
- Sector Highlights: Pharmaceuticals | Make in India. (n.d.). Highlights from the Pharmaceutical Industry | Made in India Retrieved January 12, 2023, from https://www.makeinindia.com/sector-highlights-pharmaceuticals
- Balganesh, T., Kundu, T. K., Chakraborty, T. K., & Roy, S. (2014). Drug Discovery Research in India: Current State and Future Prospects 5(7), 724-726, ACS Medicinal Chemistry Letters. https://doi.org/10.1021/ml500183c
Leave a Reply