“Is this going to have a big effect on our business model? No, because we did not develop this product for the Indian market, let’s be honest. We developed this product for Western patients who can afford this product, quite honestly. It is an expensive product, being an oncology product.” ~ Marijn Dekkers, Bayer Chief Executive Officer The global pharma industry’s reputation is getting worse, and is only slightly better than health insurers. Statements, like the one above, do not help. This statement, made by none less than the CEO of a major MNC pharmaceutical player, while being incredibly insensitive, is also alarmingly honest. At ~$12bn and double digit growth the Indian pharma market seems incredibly attractive. However, according to industry estimates,[…]
Indian pharmaceutical companies cannot be judged by American standards. – GN Singh, Drug Controller General of India [source]
If you are looking for one reason for the mess that the Indian pharma industry is in, you do not need to look further than the statement above. This is a statement made by the head of the body responsible for ensuring the quality of drugs manufactured and sold in the country.