Annual Report 2023 | CPHI Global
CPHI Annual Report, Oct 2023
Broad Points from report:
^ The 2022, mark a watershed moment in India’s rise in reputation of biologics production – notably, Covid vaccines, the Serum Institute, Bharat biotech, Biocon and, on the CDMO side, Syngene helping transform the country’s reputation.
^ The outlook for India into 2024 continues to look very strong and overall, the best of any market in the survey.
^ India is already supplying much of world generics demand: including 50% of drugs in Africa, 40% in the USA and around 25% in the UK, but what we are now seeing is a gradual shift in India toward high value drugs driven in part by the fact that there simply aren’t enough facilities in the west to support its innovation engine and desires to build these have cooled in an inflationary, low capital environment.
^ India is well known to have highly capable IT workforce and we may in fact see a convergence of interest between India’s two largest export industries (pharma and IT).
^ India has by far the world largest ‘naive patient’ base for clinical trials. This coupled with the country’s prestigious pharmaceutical manufacturing could indeed be an incredibly attractive combination for many of the world’s largest innovators.
^ India’s stellar IT prowess positions it as a potential leader in AI driven pharma innovations. With the world’s most extensive ‘naive patient’ base for clinical trials, the confluence of India’s pharmaceutical and IT sectors could make it a global epicentre for secondary data analysis using AI.
^ India to continue to invest in newer biologics technologies is that CDMOs here are typically operating EBITA margins as high as 35% verses just 20% in the west.
^ Majority of analysts state that on average biosimilar development takes just 3-5 years in India verses 7 in the West and costs on average 10X less – with prices as low as £10million in some cases.
^ India will now see the fastest rates of overall growth in biologicals in the next 5-years.
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