ReleaseWire Connect

Traditionally Innovation and drug discovery had taken a back seat in the Indian pharma industry with a few blips here and there. However, there have a been a new generation of entrepreneurs who have who ventured into the drug discovery path backed by VC funding and no pharma heritage ! In this Outlook we highlight the names of some select innovation/drug discovery companies who have successfully raised funds to sustain the research, out-licensed some of their assets or are likely to do so in the next 2-3 years thereby rewarding their investors. In this Outlook we have initiated coverage on Connexios, Bugworks, Cellworks, Tergene and hope that soon we will be able to expand the universe further.

Domestic sales improved in 2014, recovering from the slump in the 2013 caused by the market's reaction to the new drug pricing policy. In 2015, growth is expected to continue to be healthy, as the momentum continues and improving economic growth allow more spending on healthcare. Sun Pharma acquisition of troubled Ranbaxy helped it to become the leading Indian pharma company in terms of domestic market share. Sun's in-licensing of biologics from Merck also indicates, Indian companies willingness to advance its pipeline towards upper value chain. Though, US market remains the largest market for India generic exports, it is witnessing a slowdown in product approvals and channel consolidation which has impacted overall pricing and margin for the industry. The increase in audits by US FDA staff on the Indian plants of both multinationals and Indian companies have led to an increased number of issuance of warning letters. Indian Pharma companies are trying to diversify into other markets such as Brazil, Mexico, Venezuela and also in some East European markets to lower this growing dependency on the US.

Innovative Therapies for treating diseases are being sought after with fresh vigor as new targets, approaches and biology is discovered. One field which is poised to bring a paradigm change in the way diseases are treated in the next decades is the Stem cell therapy/Regenerative Medicine space. The number of companies and products in the clinic have reached a critical mass warranting a close watch for those interested in keeping pace with the development of new medicines. The Regenerative medicine Universe is large and new companies are being added to it rapidly. As a result we have used some filters to select a few names for a detailed coverage in our Outlook this year.

Strategy Diversification Divested: Productivity measurements, Divestment of non-core assets resulting in healthy Cash position- Will accelerate Next wave of targeted acquisition.

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