Indian pharma sector in for bigger opportunities

India is among the largest pharmaceutical manufacturing spots in the world. In terms of dominance, the country has a 20-40% share in the U.S. market and possibly the most number of plants approved by the U.S. FDA anywhere in the world. There’s enormous scope in India’s domestic market itself. The country has 27 crore people above 50 years of age which makes them prime candidates for the consumption of pharma products.

The industry was already earning double-digit profits and seeing expansions before COVID, but the pandemic has increase spending on infrastructure and research along with increasing awareness.

Moreover, Indian drug makers have invested around Rs 52,000 crore on research and development in the last five years and are likely to spend another Rs 40,000 over the next decade owing to their rich cash flows, the fund manager said.

This will create “fantastic opportunities” for investors in the coming years, especially among the larger pharma companies with a more holistic portfolio. “We see this as the second coming of the Indian Pharma sector as R&D spends rise rapidly, according to Sailesh Raj Bhan, deputy chief investment officer of equity investments at Nippon India Mutual Funds.

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