India’s pharmaceutical industry is in a complex place right now. ICRA has said that the sector grew at about 12% last year and projected that the same rate of growth would continue for the coming year too. The growth though, is driven by growing investments in India, spurring domestic demand. The key export markets like the US though are proving harder to scale. While there have been no major quality scares in the last few quarters, it’s true that Indian manufacturers are struggling to overcome pricing pressure. The market leaders propose to overcome this challenge by delivering more value-added products. In this context there is a focus on complex formulations and injectables like microspheres and liposomes. Of course, this focus will need to be backed by an upgrade in manufacturing facilities to address a range of options like pre-filled syringes, liquids, vials, auto-injectors, multi-dose pens, and others. This is where many of the conversations we are having now are heading too. It’s an interesting time for sure!