India Emerges as Major Hub for API Sourcing
Many Indian API players are well ahead of other countries in filing of DMFs in US and CoS in Europe. With investments in R&D and focus on quality as well as cost, Indian companies have been able to maintain their position in the international market.
Indian pharma companies filed 404 number of DMFs with US FDA in 2011 and the submission of DMFs continued in the first quarter of 2012 also. During the first quarter, 97 DMFs were filed.
With investments in R&D and focus on quality as well as cost, Indian companies have been able to maintain their position in the international market. Many Indian API players are well ahead of other countries in filing of DMFs in US and Certificates of Suitability (CoS) in Europe. India ranks third in the world with producing about 500 different APIs and largest number of US FDA approved plants outside US.
The R&D expenditure of 30 leading Indian pharmaceutical companies increased by 18.7 per cent to Rs.3,770 crore during 2010-11 from Rs.3,177 crore in the previous year with sig
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