Salim Shaikh and Akash Puranik Salim Shaikh is executive chairman & founder of Symbio Generrics & Akash Puranik is promoter, MD & CEO of Symbio The Indian pharma industry is a sunrise industry in the Indian economy. The Indian pharmaceutical market is expected to reach $39 billion by end of 2022 as reported by prominent industry sources. However, the projections for the next 6 years are noteworthy; while the global generic API markets are projected to grow at around 6%, the Indian market is expected to have a CAGR of 13.7% in the first 4 years itself. There has been a US$ 4-5 billion investment in the API space in India over the last couple of years. The last quarter has seen many investments from top venture capital organisations. India’s emergence as the alternate source of bulk drugs has been quite dramatic. Ironically, the growth of India as a reliable source for Active Pharmaceutical Ingredients (APIs) was fanned by the two serious virus outbreaks, first the SARS Virus back in 2003-2004 and the second was COVID in 2020. At both these points, China was the only dominant supplier of bulk drugs (APIs) while India was the primary source of […]
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