Indian per capita income increase will lead to increased spending on healthcare and medicines, including both generic and non-generic products. The generic market is attractive, projected to be around $600 billion in 2030. MNCs focus on proprietary products, taking advantage of improved GDP and per capita income. Indian companies are engaged in complex generics and biosimilars research, with potential for huge benefits. Patent expirations in 2025 will create opportunities for Indian companies.
The pharmaceutical sector in India is showing strong domestic growth of 7% to 9%, despite flat global growth in the US and Europe, according to pharma expert Kewal Handa. He sees good opportunities for Indian companies in the US, as a significant number of patents are set to expire in the next five years. Biosimilars and the application of artificial intelligence in R&D are expected to be major growth areas, and Handa predicts double-digit growth next year.
The salary of top executives of BharatPe, including its founder Ashneer Grover and his wife Madhuri Jain Grover, has been revealed after a regulatory filing by the fintech startup. The ex-Shark Tank India judge earned Rs 1.69 crore in FY22 while his
Kanungo was the deputy governor of RBI from 2017-2021 and will work closely with the Board and support BharatPe in its plan of building a high-quality profitable business.