Top pharma firms to hike R&D spend next 5 yrs as mkt eyes $130 bn revenue

Industry captains feel pandemic has opened up opportunities for the sector in India to emerge as a second source of raw material and finished products, after China

Leading pharma companies in the country are looking at increasing their research spend over the next five years as the Indian pharmaceutical market eyes a $130 billion turnover in the next ten years. Meanwhile, industry captains felt that the pandemic has indeed opened up opportunities for the Indian pharma sector to emerge as a second source of raw material and finished products after China.

Speaking at the BioAsia 2022, Dilip Shanghvi, the MD of India’s largest drug firm by market share Sun Pharma said that from a current 7-9 per cent of their turnover, he sees Sun Pharma’s research spend