The Pharmaceutical Research and Manufacturers of America (PhRMA)'s decision to list India as a Priority Foreign Country illustrates pharmaceutical companies' escalating discontentment with the country due to a series of patent disrespect issues. We maintain that low government spending on healthcare is the root of the problem, as it limits patients' access to services. However, we do not expect the situation to improve in the near term, and the affordability of patented pharmaceuticals will remain an issue between the US and India.
Headline Expenditure Projections
- Pharmaceuticals: INR904.0bn (USD15.4bn) in 2013 to INR1,000.6bn (USD17.3bn) in 2014; +10.7% in local currency terms and +11.8% in US dollar terms. Forecast broadly in line with previous quarter.
- Healthcare: INR4,523.5bn (USD77.2bn) in 2013 to INR5,043.1bn (USD87.0bn) in 2014; +11.5% in local currency terms and 12.6% in US dollar terms. Forecast upgraded due to receipt of historic data from the World Health Organization.
Spanning over 149 pages, “India Pharmaceuticals and Healthcare Report Q3 2014” report covering the SWOT, Industry Forecast, Market Overview, Competitive Landscape, Company Profile, Methodology.
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