For new entrepreneurs, pharma sector ‘formidable’ to crack – The Hindu Business Line

Even as contract manufacturing of pharmaceutical products provides ample opportunity for small and medium enterprises to grow, the sector remains a distant dream for new entrepreneurs.

Prohibitive costs

Costly machinery, stringent regulatory norms and price controls are seen as major deterrents for new entrepreneurs from venturing into the pharmaceuticals business, even in contract manufacturing, which contributes about 50 per cent to the country’s ₹77,000-crore domestic drug business. According to industry insiders, contract manufacturing in the country is growing at the rate of 20 per cent per annum.

Read more – The Hindu Business Line