Lupin Ltd. envisages an increase in industry collaborations, marketing and in-licensing alliances. It anticipates more forays into biotechnology and new molecule research by players in the pharmaceutical sector in 2021.
It also expects the year to be pivotal in shifting the perception of Indian firms as providers of only vanilla generics to global leaders in the pharmaceutical industry.
The company added that the Indian pharma industry will continue to play a significant role in driving better health outcomes across the world through high-quality and affordable generics, as the industry has forayed into developing complex and specialty-focused offerings.
“For the pharma industry, 2020 has been a watershed year with all eyes looking to it for a solution to end the pandemic. Even before the hope of vaccines emerged, the industry played a critical role in repurposing existing drugs, development of test kits, and working amid huge disruption to ensure the supply of life-saving drugs across the globe,” stated Ramesh Swaminathan, chief financial officer and head corporate affairs.
The company stated that it is seeing an uptick in the adoption of telemedicine and this will be reflected in a host of alternative channels of doctor and prescriber engagement, globally.
There are great opportunities for deeply vertically-integrated players like Lupin to make more in-country manufacturing moves in line with major market requirements.
“The government has already taken the right steps with its PLI scheme, encouraging the industry to earn back the space it once commanded in APIs. Increasingly, countries would want security over supply chains, especially for life-saving medicines,” stated Swaminathan.
He also predicts pharma companies increasing the use of digital promotions with physicians also advocating for more patient engagement on virtual platforms. This trend will not only be seen in emerging markets, but also in western hospital-centric care markets.
Swaminathan added, "As adoption of latest technologies, automation and innovation rise, there is also expected to be a significant improvement in productivity and accuracy standards. The entire value chain from R&D, procurement, production, supply chain and distribution is seeing changes that would compel players in the industry to adopt newer practices to usher in a greater focus on cost reduction and productivity."
