Biotech & Pharmaceutical Marketing in India
Market Entry to India > Biotech & Pharmaceutical Marketing in India
About Amritt, Inc
A management consultancy firm advising American companies how to increase revenues and reduce costs by leveraging the economies of China and India.
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India has over 60 plants approved by the U.S. Food and Drug Administration, which is the highest number of any country outside the U.S. With the recent strengthening of intellectual property regimes in India to bring it in compliance with the “TRIPS” aspects of the World Trade Organization, Western biotech and pharmaceutical companies are eager to explore new opportunities.
The size of the Indian biotechnology industry is estimated at $1.3 billion. This includes bio-healthcare, bio-agriculture, bio-industrial, bio-informatics, and contract and clinical research markets. Of the total market, healthcare biotechnology products account for 38 percent. The growing population, demand for quality diagnostic products and innovative drugs to combat diseases are leading to increased demand for biotechnology drugs and products. New types of diseases and demand for improved drugs are also leading to greater research and development (R&D) activities. Over the past years this industry has witnessed a growth rate of 35-37 percent annually. The main segments of healthcare biotechnology are recombinant therapeutics and bio-drugs, vaccines, and diagnostic products.
The Government of India allows import of biotechnology products under the “Open General” category of the import regulations. The Government has simplified import procedures and has been reducing import duties to encourage import of capital goods and raw materials.
Price, quality and after-sales service support are major factors in purchase decisions. U.S. manufacturers and exporters are advised to identify competent local partners who offer a strong sales and after-sales service support.
Our Services
Amritt’s go-to-market service for India helps with developing and executing roadmaps to expand your presence:
• Feasibility Studies & Financial Analysis
• Facilitating pharmaceutical import license processes
• Qualify high quality in-market agents and distributors
• Compliance to Pharmacy, Drugs, and Cosmetics regulations
• Negotiation with Indian counterparts
• Attracting and retaining top business development talent
• Avoiding cultural gaffes
