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H E A L T H C A R E

The Top 10 Pharmaceutical Companiesin IndiaGrowth strategies, performance and SWOT analyses

By Business Insights

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Copyright 2009 Business Insights LtdThis Management Report is published by Business Insights Ltd. All rights reserved.Reproduction or redistribution of this Management Report in any form for anypurpose is expressly prohibited without the prior consent of Business Insights Ltd.

The views expressed in this Management Report are those of the publisher, not ofBusiness Insights. Business Insights Ltd accepts no liability for the accuracy orcompleteness of the information, advice or comment contained in this ManagementReport nor for any actions taken in reliance thereon.

While information, advice or comment is believed to be correct at the time ofpublication, no responsibility can be accepted by Business Insights Ltd for itscompleteness or accuracy.

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Competitive landscape 32Competitive positioning of the top 10 companies 32Exposure to US generics market 35Comparative analysis of the top 10 companies 36

Trends 37Increasing participation of innovator companies in Indian pharmaceuticalspace 37Pharmaceutical companies making inroads into rural India 38Shifting focus towards Japanese generics market 39Growing prevalence of lifestyle diseases 40Expanding alliances in biopharmaceuticals 41

Chapter 3 Cipla 46

Summary 46

Company overview 47

Marketed products 47

Therapeutic focus 49

Research and development 49

Growth strategies 50Expanding in international markets through alliances and partnerships 50Expanding capabilities 50Growing in the US generics market 51Acquisitions and divestments 51

SWOT analysis 52

Chapter 4 Ranbaxy 54

Summary 54

Company overview 55




Growth strategies 58Rebuilding business in the US market 58

Shifting focus towards complex products in the US 58Monetizing the FTF opportunities in the US 58

Improving penetration in emerging markets 59Strengthening management involvement in Ranbaxy 59Acquisitions and divestments 60

SWOT analysis 61

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Chapter 5 GSK (India) 64

Summary 64

Company overview 65




Growth strategies 68Augmenting product portfolio in India 68

Leveraging its parent companys product portfolio 68In-licensing products 69

Expanding rural presence and hospital sales 69Acquisitions and divestments 70

SWOT analysis 71

Chapter 6 Piramal Healthcare 74

Summary 74

Company overview 75


Therapeutic focus 77Research and development 77

Growth strategies 78Capitalize on contract manufacturing opportunities 78Growing business through alliances and partnerships 78Acquisitions and divestments 79

SWOT analysis 81

Chapter 7 Zydus Cadila 84Summary 84

Company overview 85




Growth strategies 88Alliances fostering growth in international generics markets 88Sustaining revenue growth in Indian formulation business 89

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Acquisitions and divestments 90

SWOT analysis 91

Chapter 8 Sun Pharma 94

Summary 94

Company overview 95




Growth strategies 98Enhancing presence in the US market 98Focusing on niche segments in developing markets 98Plugging gaps in its business through investments 99Acquisitions and divestments 99

SWOT analysis 100

Chapter 9 Lupin 102

Summary 102

Company overview 103




Growth strategies 105Expanding in European markets 105Foray into biosimilars market 105Sustaining growth in the US generics market 106Shifting focus to chronic and specialized products in India 106

Acquisitions and divestments 106SWOT analysis 108

Chapter 10 Alkem 110

Summary 110



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Growth strategies 113

Expanding presence in nutraceuticals business 113Expansion in international markets 113Acquisitions and divestments 114

SWOT analysis 114

Chapter 11 Sanofi-Aventis (India) 116

Summary 116





Growth strategies 119Leveraging parent companys product portfolio 119Shifting focus to rural India 120Acquisitions and divestments 121

SWOT analysis 122

Chapter 12 Mankind 124

Summary 124





Growth strategies 128Expanding in international markets 128Investing in pharmaceutical capabilities development 128Foray into fast growing segments 128Acquisitions and divestments 129

SWOT analysis 130

Chapter 13 1120 companies 132

Abbott (India) 132

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Company overview 132Marketed products 133Therapeutic focus 134Research and development 134

Dr Reddys 135Company overview 135Marketed products 136Therapeutic focus 137Research and development 138

Wockhardt 139Company overview 139Marketed products 140Therapeutic focus 140Research and development 141

Aristo 142Company overview 142Marketed products 143Therapeutic focus 144

Torrent Pharmaceuticals (Torrent) 145Company overview 145Marketed products 146Therapeutic focus 147Research and development 147

Pfizer (India) 148Company overview 148Marketed products 149Therapeutic focus 150Research and development 151

Intas 151Company overview 151Marketed products 152Therapeutic focus 152Research and development 153

Alembic 154Company overview 154Marketed products 155Therapeutic focus 155Research and development 156

FDC 157Company overview 157Marketed products 157Therapeutic focus 158Research and development 159

Macleods Pharmaceuticals (Macleods) 160Company overview 160Marketed products 161Therapeutic focus 162Research and development 162

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Chapter 14 Appendix 164

Glossary 164

Index 168

List of FiguresFigure 2.1: Indian pharmaceutical market size ($m), 200914 26Figure 2.2: Key market drivers and resistors of Indian pharmaceutical market 27Figure 2.3: Indian pharmaceutical market SWOT analysis 30Figure 2.4: Top 10 pharmaceutical companies in India market share, 2008 33

Figure 2.5: Top 10 pharmaceutical companies in India growth, 200408 34Figure 2.6: Comparative analysis of the top Indian pharmaceutical companies 37Figure 2.7: Top 10 pharmaceutical companies in India lifestyle segment market share (%), 2008 41Figure 3.8: Cipla therapeutic focus, 200708 49Figure 3.9: Cipla SWOT analysis 52Figure 4.10: Ranbaxy therapeutic focus, 200708 57Figure 4.11: Ranbaxy SWOT analysis 61Figure 5.12: GSK (India) therapeutic focus, 200708 67Figure 5.13: GSK (India) SWOT analysis 71Figure 6.14: Piramal Healthcare therapeutic focus, 200708 77Figure 6.15: Piramal Healthcare SWOT analysis 81Figure 7.16: Zydus Cadila therapeutic focus, 200708 87

Figure 7.17: Zydus Cadila SWOT analysis 91Figure 8.18: Sun Pharma therapeutic focus, 200708 97Figure 8.19: Sun Pharma SWOT analysis 100Figure 9.20: Lupin therapeutic focus, 200708 104Figure 9.21: Lupin SWOT analysis 108Figure 10.22: Alkem therapeutic focus, 200708 112Figure 10.23: Alkem SWOT analysis 114Figure 11.24: Sanofi-Aventis (India) therapeutic focus, 200708 119Figure 11.25: Sanofi-Aventis (India) SWOT analysis 122Figure 12.26: Mankind therapeutic focus, 200708 127Figure 12.27: Mankind SWOT analysis 130Figure 13.28: Abbott (India) therapeutic focus, 200708 134

Figure 13.29: Dr Reddys therapeutic focus, 200708 137Figure 13.30: Wockhardt therapeutic focus, 200708 141Figure 13.31: Aristo therapeutic focus, 200708 144Figure 13.32: Torrent therapeutic focus, 200708 147Figure 13.33: Pfizer (India) therapeutic focus, 200708 150Figure 13.34: Intas therapeutic focus, 200708 153Figure 13.35: Alembic therapeutic focus, 200708 156Figure 13.36: FDC therapeutic focus, 200708 159Figure 13.37: Macleods therapeutic focus, 200708 162

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List of TablesTable 2.1: Indian pharmaceutical market size ($m), 200914 25Table 2.2: Novel product pipeline of select Indian biotechnology companies, 2008 29Table 2.3: Major foreign acquisitions by Indian pharmaceutical companies, 200709 32Table 2.4: Top 10 pharmaceutical companies in India growth (%), 200408 34Table 2.5: Selected ANDA filings approved in the US, 2009 35Table 2.6: Deals and alliances in Japanese pharmaceutical market, 200709 40Table 2.7: Selected alliances in the Indian biopharmaceutical market, 200709 43Table 3.8: Cipla snapshot 46Table 3.9: Cipla top 10 marketed products sales ($m), 200708 47Table 3.10: Cipla new product launches, 200708 48Table 3.11: Approved ANDAs of Cipla in the US, 200709 51Table 4.12: Ranbaxy snapshot 54Table 4.13: Ranbaxy top 10 marketed products sales in India ($m), 200708 56Table 4.14: Selected Ranbaxy ANDAs with FTF status 59Table 4.15: Ranbaxy acquisitions, 200709 60Table 5.16: GSK (India) snapshot 64Table 5.17: GSK (India) top 10 marketed products sales ($m), 200708 66Table 5.18: GSK (India) product launches from parent portfolio, 200709 68Table 5.19: GSK (India) expected new launches in India, 200910. 69Table 6.20: Piramal Healthcare snapshot 74Table 6.21: Piramal Healthcare top 10 marketed products sales ($m), 200708 76Table 6.22: Piramal Healthcare new product launches, 200708 76Table 6.23: Select Piramal Healthcares alliances, 200709 79Table 6.24: Piramal Healthcare acquisitions, 200709 80Table 7.25: Zydus Cadila snapshot 84

Table 7.26: Zydus Cadila top 10 marketed products sales ($m), 200708 86Table 7.27: Zydus Cadila R&D collaborations, 200709 88Table 7.28: Select Zydus Cadilas alliances, 200509 89Table 7.29: Zydus Cadila acquisitions, 200709 90Table 8.30: Sun Pharma snapshot 94Table 8.31: Sun Pharma top 10 marketed products sales ($m), 200708 95Table 8.32: Sun Pharma new product launches, 200708 96Table 9.33: Lupin snapshot 102Table 9.34: Lupin top 10 marketed products sales ($m), 200708 103Table 9.35: Lupin acquisitions, 200709 107Table 10.36: Alkem snapshot 110Table 10.37: Alkem top 10 marketed products sales ($m), 200708 111

Table 11.38: Sanofi-Aventis (India) snapshot 116Table 11.39: Sanofi-Aventis (India) top 10 marketed products sales ($m), 200708 118Table 11.40: Sanofi-Aventis (India) key brands launches from parent portfolio 120Table 12.41: Mankind snapshot 124Table 12.42: Mankind top 10 marketed products sales ($m), 200708 126Table 13.43: Abbott (India) snapshot 132Table 13.44: Abbott (India) top 10 marketed products sales ($m), 200708 133Table 13.45: Dr Reddys snapshot 135Table 13.46: Dr Reddys top 10 marketed products sales ($m), 200708 136Table 13.47: Dr Reddys drug development pipeline, 200708 138Table 13.48: Wockhardt snapshot 139Table 13.49: Wockhardt top 10 marketed products sales ($m), 200708 140

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Table 13.50: Aristo snapshot 142Table 13.51: Aristo top 10 marketed products sales ($m), 200708 143Table 13.52: Torrent snapshot 145Table 13.53: Torrent top 10 marketed products sales ($m), 200708 146

Table 13.54: Pfizer (India) snapshot 148Table 13.55: Pfizer (India) top 10 marketed products sales ($m), 200708 149Table 13.56: Intas snapshot 151Table 13.57: Intas top 10 marketed products sales ($m), 200708 152Table 13.58: Alembic snapshot 154Table 13.59: Alembic top 10 marketed products sales ($m), 200708 155Table 13.60: FDC snapshot 157Table 13.61: FDC top 10 marketed products sales ($m), 200708 158Table 13.62: Selected FDC new product launches, 200708 158Table 13.63: Macleods snapshot 160Table 13.64: Macleods top 10 marketed products sales($m), 200708 161

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