The analysis, reported in India’s Financial Express newspaper, suggests that growing demand for contract research and manufacturing services coupled with growth of the global generics market will drive the country’s contract formulation market.
The report also reveals that India’s formulation sector grew an average of 14 per cent a year between 2003 and 2008, ahead of the 7 per cent expansion achieved by the global industry.
It also predicts that the country’s pharmaceutical market will be ranked among the world’s top ten by the year 2015.
