Indian pharma industry is likely to grow by 12-13% in 2009, compared to the earlier projections of 15%, due to the global economic meltdown, report media quoting a statement from Sameer Savkur, Managing Director of ORG IMS Research.
Mumbai-based ORG IMS Research is a joint venture of AC Nielsen ORG-Marg and IMS Health, the UK.
IMS Health Vice President (Europe) Graham Lewis reportedly said. "Global pharma growth has been declining in the past five years. There is only a small impact on India. It will see double-digit top line growth."
Lewis added that there was a significant amount of restructuring in the global pharmaceutical industry, with smaller companies running out of cash and bigger companies merging with each other.
The Indian pharma industry, which grew by over 10% last year, is likely to see a marginal one-to-two per cent spurt in growth in the next four to five years, Savkur said.
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