Many foreign drug manufacturers may close down in India soon, this is the reason
Foreign Pharmaceutical companies are on the verge of closure: Swiss pharma company 'Novartis' has made a special announcement on 16th February. Some things are listed under this advertisement. A strategic review of Novartis India Limited has been initiated. Based on which it can stop the production of drugs in India. In which its share in the subsidiary company is being evaluated. Just three months ago, UK major AstraZeneca also announced that it may stop drug manufacturing in India based on the Global Strategic Review. Companies reduced manpower and operations Pharma companies such as Pfizer, Sanofi, AstraZeneca and GSK have cut manpower and operations in key functions such as manufacturing, sales and marketing over the past few years. Some of these companies have a legacy of over 100 years. So these companies were longing for the lead in India some time ago and why are they closing down now? Increasing competition and patents India is a market of more than 2 lakh crores...
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