The fast growing Indian Contract Development and Manufacturing Operations (CDMO or CRAMS as popularly known in India) industry is attracting Investor interest.
The 70 bn USD global CDMO industry is growing at 10%pa‚ driven by increasing generic utilisation‚ and need to enhance R&D productivity and reduce costs. Many Pharmaceutical companies have stated their desire to enhance outsourcing levels as they build drug pipelines and rationalise existing manufacturing/R&D assets.
The Indian CDMO is currently 6 bn USD in size and growing at a healthy 25% pa. Robust chemistry skills‚ great talent pool and cost advantages in India translate into more productive and cost–efficient manufacturing & R&D efforts. No wonder‚ India has a large number of USFDA approved facilities‚ USFDA approvals and DMF filings which offer a unique opportunity for Indians to capture a significant portion of the 70 bn global CDMO market.