Indian pharma companies benefited a lot from the first wave of patent expiries during the period 2006-2008. Thus, it is hardly surprising that they intend to make the most of the next wave as well. Indeed, the potential size of drugs losing patents in the global generics market is around US$ 250 bn. This is over the next three years.

 India is hoping to capture at least around US$ 30-40 bn of the global generics market. Cost of healthcare is rising in the developed markets. Population is ageing too. These have been the key drivers for the healthy growth in generics in the past. This trend is expected to continue going forward as well. The US and Europe are obviously lucrative markets. But plans are on the anvil to increase strides in Japan and the African countries too.

 Most top Indian companies have already begun to reap benefits in the US markets. They are especially focusing on launching niche products having limited competition. These have the potential to generat e higher revenue and profits. The commerce department is also going all out to hard-sell Indian generics in difficult but promising markets.

 This under its recently launched Brand India Pharma campaign. The focus being on credibility, quality, availability and affordability of Indian medicines. Of course, large patent expiries also mean more competition. And this has become a regular feature of the generics market. But this is the time for Indian pharma companies to step up pace and make most of the opportunity. (by J Mulraj)