Experts see boom in pharma outsourcing due to eco crisisPublished on Tue, Nov 11, 2008 at 09:11 | Source : CNBC-TV18 Updated at Wed, Nov 12, 2008 at 09:02 A little under 10% of the Indian pharma industry thrives on outsourcing. But experts believe this segment is in for some robust growth, thanks to the global economic slowdown. Now, global companies are eyeing India as a destination for outsourcing of manufacturing and research and development.
The global financial crisis is proving to be a growth pill of sorts for the Indian pharma outsourcing sector. Companies like Merck of the Kewal A report shows Diana Anderson, President & CEO, D Anderson & Co said, "In 2008, US has outsourced more than 40% of its clinical trials and that is expected to increase to 65% by 2011.' But the going could get tough. Experts say domestic drug companies have to expand capacity to make the most of this outsourcing wave. And a shortage of cheap credit may hurt these projects. Sujay Shetty, PwC said, "The current crisis has made many PE firms and external investors very careful in investing. That is taking time for smaller firms to raise money. That could have some effect on capacity building and productivity." The global financial crisis is acting as a double-edged sword, as far as the pharma-outsourcing to
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Tags: pharma, outsourcing, slowdown, Merck, Pfizer, Kewal Handa, D Anderson & Co, Diana Anderson, PwC, Sujay Shetty |
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