Winning a tender last month to supply olanzapine to public hospitals in China, Dr Reddy’s Laboratories (DRL) became the first Indian company to export generic drugs to the Asian giant. However, investors did not react to the development — and for a reason. For most other Indian pharmaceutical companies venturing into China, the market is restricted to the licensing of speciality products, with monetisation being two to three years away. China’s move to reform its drug laws and facilitate faster approvals for generic drugs has provided hope for Indian pharma companies. In the recent JPMorgan India Investor Summit, investments of Indian pharma companies in China emerged as a recurring question for companies but most players are expected to see meaningful contribution from China only from 2022-23. According to a July report by Bank of America Merrill Lynch, Indian drug companies are seeking partners that can make tangible business contributions,safeguard intellectual property, ensure operational control and manage talent. The spate of joint ventures announced by Indian pharma companies in recent months is evidence of this becoming possible. DRL has the first-mover advantage in the form of established presence along with manufacturing facility in China. China has a very substantial local pharma… Read full this story
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