The Hindu Business Line : Pharma sector can double market size in 7 yrs, says Ranbaxy CEO

Mr D.S. Brar, CEO and Managing Director, Ranbaxy Laboratories Ltd, with Mr Kenneth J. DeWoskin, Senior Consultant, PricewaterhouseCoopers (China), and Mr Sanjiv Mishra, Citigroup Country Officer, and CEO, Global Corporate and Investment Bank, Citigroup (Singapore), at a meet in Hyderabad on Thursday. — A. Roy Chowdhury

Hyderabad , Dec.12

THE domestic pharmaceutical sector has the potential to double its existing market size by the year 2010 and thereby become the second major manufacturing base in the world next to China provided it is supported by the right regulatory framework, according to Mr D.S. Brar, Chief Executive Officer and Managing Director of Ranbaxy Laboratories Ltd.

Addressing the issue of `Asian tigers: Emerging global competitors' at the leadership summit in the Indian School of Business, Mr Brar said that the Indian pharma sector has the potential to grow and double the number by 2010.

The challenge is to transform the industry from being predominantly small and medium to one where many large companies contribute significantly for the sector's growth. It is high time for large companies to lead this charge. The Asian companies have the potential to transform and provide global quality products and services, he said.

"There are a lot of good things going for India now. Over the next few decades, India will have the largest population in the age group of 15 to 60 years. This will mean that India will have the potential to become one of the fastest growing markets in Asia along with China. The economic activity will shift to Asia provided the necessary regulatory environment is created. India has the potential to become a major centre for global corporations particularly in the areas of information technology and pharmaceuticals, " Mr Brar said.

Referring to a McKinsey report, he said that the manufacturing sector faces a lot more challenges in terms of being competitive. For instance, in the case of a light asset company for every dollar invested, the company is able to reap about $4 in return. On the contrary, it is able to recover only $0.9 in the case of a heavy asset company.

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