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Authors
Affiliations
1 Deptt. Of Business Administration, Berhampur University, IN
2 National Institute of Science and Technology, Berhampur, IN
Source
Indira Management Review, Vol 1, No 2 (2007), Pagination: 37-46
Abstract
In the recent years, Indian pharmaceutical market has exhibited 10% growth, as against 7% growth at the global level. However, there is a need to comply with WTO/IPR norms, and to bring in global standards by grabbing the huge potential of global pharmaceutical market. Indian firms have mostly English-speaking scientists and highly qualified and motivated young chemists, and have now faced stiff competition from Chinese firms which are producing world class pharmaceuticals at prices less than half as compared to the western countries. Further, mergers and acquisitions, liquidations and strategic alliances, and probably an attempt to create blockbuster brands for comarketing of global pharmaceutical products will bring in newer opportunity for Indian talent pool of cheap skilled workers. Therefore, the Indian pharmaceutical companies must focus on their core competencies to produce world-class generics at highly competitive prices in order to capture the market share before Chinese grab it. The paper argues that it is possible only when Indian pharmaceutical companies seek to operate with highest efficiency and control the cost structure. This paper is an attempt to highlight the core competencies of successful Indian companies, and their capabilities to take leadership positions in global marketing of Pharmaceutical products, in the post- TRIPS era. For this, substantial investment in R & D is the need of the hour.
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