The Independent physical association (IPA) stats that there are few roadblocks for the Pharmaceutical industry.
During this COVID- 19 pandemic period, pharmaceutical companies/ Industries are facing a rapid challenges which are arising from disruption in supply chains and that leading to the change in the business processes. If the current situation (COVID-19) pandemic may for a medium/long duration of time, which might impact the supply of active material and ingredients (mostly exported from China), as well as the import and export of pharmaceuticals.
There may be a high negative impacts for both short and longer term on Research & Development and manufacturing processing, and also a drastic delay on projects/programmers not related to the core supply chain/data management operations.
Lack of stable policy and pricing.
With the local government policies and terms to the Pharmaceutical industry/ companies facing many challenges in India that have created an uncertain environment for investments and innovations. Independent physical association suggests that each and every government as well as stakeholders should work together to develop proper plan to produce affordable drugs for Indian patients with affable prices. New start up industries didn’t get environmental clearance from the local governments this leads to a major problem for the local environment and sometimes leads to a major damage in the industry, as we see few incidents happen recently in India by not following the basic rules and that effect the major loss.
Lack of capabilities in the innovation space
The resent report states that the governments should invest in research & development, initiatives and talent of the individual in order to grow India’s innovation. Insufficient trained and manpower for operating reactors in Automation mode for final API product. Clinical trials should also be supported and subjectivity in certain regulatory decision-making that should not affect the environment and should follow the terms of IPA.
External markets
India is majorly depending on other neighbor countries for intermediates and active pharmaceutical ingredients (APIs), with is closely to 80 percent of the APIs used in India fulfilled by China. Insufficient financial budget in Indian pharmaceutical market for critical reactions during production of costly medicines. India should start improving the infrastructure that can help in the development of internal facilities to stabilize supply and also to reduce the cost of the medicine.
Quality compliance scrutiny
From a decade India has experienced the highest number of FDA inspections and also continued investment into upgrading quality standards. This investment will divert capital away from other areas of development and distract from growth, says the alliance.
Demand Forecasting
One of the biggest challenges companies in the pharmaceutical industry face is to devise reliable market forecasts and enhance the customer service levels, which is due to inefficient demand forecasting. Demand forecasting is an essential component for the pharma companies to stay ahead in the competition and match the supply on demand. Additionally, ensuring that all the goods are produced at the desired time and delivered seamlessly and poses a big challenge to the pharma companies. The inconsistency and errors in supply process is a significant hurdle that companies in the pharmaceutical industry are facing.
Conclusion
The IPA highlight that “Indian pharmaceutical companies need to take Clear moves into uncharted territories.” In the report, the association suggests some actionable steps to encourage the growth of the industry.
Establishing a Ministry of Pharmaceuticals was suggested as an effective way to help the Indian pharmaceutical industry grow. This would be an independent body that would enable better coordination and faster decision-making.
A further suggestion is for the Indian pharmaceutical industry to focus on API manufacturing, so that there is less reliance on imports into the country. This could be completed several ways, including constructing dedicated zones for the manufacture of APIs.
The report further highlights a step already being undertaken by the Indian government to encourage industry growth. In provinces such as Telangana State and Uttar Pradesh, local governments have announced their intention to build ‘pharma parks’, which will lend the industry a competitive advantage. However, more measures can be taken on the path towards growth.
The impact of the global pandemic is still unknown, pharma companies need to respond, recover.
