The Indian pharmaceutical industry is poised to tap the over $35 billion global contract research and manufacturing (CRAM) business in a big way.
Given the huge competition, increasing research costs, time-to-market problems, global pharma majors are looking at sourcing from Indian pharma companies.
Major multinationals like Astra Zeneca, Pfizer, Eli lily, GSK, Merck, Allergan, Ratio Pharm amongst host of global companies are increasingly outsourcing their demand from Indian CRAM companies.
Rusan is also constantly upgrading its existing facilities and has installed a new facility to cater to the ever growing demand for contract manufacturing.
Rusan has done investment running into millions of dollars to upgrade its existing and build a new facility in India.
Rusan has already received UK MHRA, South Africa –MCC , WHO-GMP approvals and is in the process of getting US FDA to target US and European market in an aggressive manner.
The CRAM business in India is growing between 25% and 30% annually and with more and more multinationals approaching India , we expect the same to grow around 40%.
India may attract one tenth of the over $ 35 billion business in the next 2-3 years.
With a strong intellectual knowledge base and proven capabilities to develop cost efficient solutions, Rusan expects to play a major role in global CRAM business.
It is estimated that close to $ 80 billion worth of drugs are expected to go off patent in the next 2-3 years thereby creating a major opportunity for Rusan to exploit.
Rusan has understood the trend fully well and is already doing contract manufacturing for companies like Reckitt Benckiser, Novartis, Ratio Pharm, Arrow, Dr. Reddy’s, Glenmark, Alembic, Genesis, LPC, Relon Chem, Goldshield, Scriptpharm, Dezzo, Pharmachem, Manx Healthcare etc.