To reduce uncertainty and keep competition at bay, M&As and alliances in the Indian generic pharmaceutical space have become the need of the hour.

With more than 20,000 organi zations and unorganized com panies, the $6.5 bn Indian pharmaceutical industry has become highly fragmented. It is the world’s 14th largest in terms of value and fourth largest in terms of volume. Its top 250 companies control 70% of the Indian market. However, India’s commitment to WTO, which brought into effect product patent rules and Exclusive Marketing Rights (EMR) from January 2005, has brought an end to the process of reverse engineering, on which the Indian pharmaceutical industry was thriving. Hence, Indian companies are trying to reinvent themselves so as to remain competitive. They are transforming themselves from being generic producers to being innovative players. These rapidly changing market dynamics have forced the players to ride on the consolidation wave to survive and compete with MNCs, who are also willing to aggressively compete in the domestic generic space.

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