Pharma sales in India to touch $27 bn by 2016: Deloitte

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SummaryPharmaceutical sales in India are expected to rise by 14.4 per cent to USD 27 billion in 2016 from last year, but the life sciences and health care industry is up against challenges such as quality management and meeting global standards, says a report.

for the Indian companies.

"The main focus of the Indian companies is on countries with ageing populations such as Japan, Africa, and Latin America, which need cheaper drugs," the report said.

Besides, the multinational (MNCs) firms are investing and driving growth in the Indian life sciences industry despite stiff price competition, government price controls, and limited availability of infrastructure, the report said.

"India has a fragmented life sciences industry, with stiff price competition, government price controls, and limited availability of infrastructure. Nonetheless, MNCs are increasing their operations in India and creating opportunities to drive industry growth in the country," it added.

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