Express Pharma:Future of pharma innovations and R&D in India

January 16, 2019 Spread the awareness:

Dr Anwar Daud, Managing Director, ZIM Laboratories, gives an insight about the innovation trends to look out for in 2019 in the pharma sector…

Innovation is the key to success for any business. Innovation and research in various business sectors is driven by factors specific to the business. In pharma, currently innovation is driven by following three factors:Firstly, competition in the generic market has become ferocious with the entry of many players, both, big and small. In the US, about 50 per cent of the market is controlled by three major retail companies and therefore they increase pressure on pharma companies to lower their prices. In developed countries, healthcare is provided through insurance companies and these companies are not ready to pay for premium for products without any tangible clinical benefits. In short, everybody is looking for affordable healthcare. So, pharma companies are required to direct their research efforts to develop the products that addresses unmet medical needs and provide them at affordable cost in order to sustain with high profits.

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