Rishabh Bindlish, MD – AAPAC Life Sciences Lead, Accenture Strategy, advises that pharma companies need to tighten their belts using a comprehensive forward-looking cost management mindset
India is one of the world’s biggest suppliers of generic drugs and complex formulations. It accounts for 20 per cent of global generics exports volume and ranks among the top five fastest-growing pharma markets. Yet, Indian life sciences or pharma companies are facing the twin challenges of declining top-line growth and decreasing profitability – caused by heightened US FDA scrutiny, pricing pressures, and rise in manufacturing, employee and compliance costs.
The industry is at an important inflection point. It needs to invest more in innovation, but for that it needs more capital – which is bec