Indian Pharma industry is slowing moving up the value chain. Earlier it used to manufacture active pharmaceutical ingredient at low cost compared to world. Now with competition from China, which provides API at 15-20% low cost, it makes sense to shift focus elsewhere. Many top companies like Lupin, Novartis, Ranbaxy have less revenue stream from API than from formulations. There could also be the reason that formulation business has grown faster than APIs for some companies.
API is low scale commodity with low margin. Moreover, with a large number of patent expires in developed markets like the US and Europe, Indian companies, with skills to develop and manufacture low-cost generic drugs, see a much more lucrative opportunity there than utilizing their capacities for manufacturing APIs. Outside the US, India has the largest number of manufacturing facilities approved by the US Food and Drugs Administration.
Here, is a list of companies in India who are into manufacturing formulation drugs.
List of All Pharmaceutical Formulation Companies in India
Aditi Pharmaceuticals Pvt Ltd
Adley Formulations
Admac Formulations
Adora Products Pvt Ltd
Adp Chemicals Pvt Ltd
Advanced Bio Agro Tech Ltd
Advanced Vital Enzymes Pvt Ltd
Advik Laboratories Ltd
Aegis Lifesciences
