Mankind Pharma is all set to launch the API factory by this year to promote affordable drug manufacturing in India. The initiative will incur a huge investment in the pharma sector with a focus on Zero defect, Zero effect by making drug manufacturing affordable by 20-30 percent.

According to R C Juneja, chairman and founder, Mankind Pharma, the Government plans to make in India the third largest pharma market by 2020 with a rate of 20 percent global export in generics. The company is coming up with an API centre in Rajasthan which will be functional by end of this year and will give boost to the pharma industry by manufacturing affordable drugs in the country.

The company revealed that the Indian pharma industry of worth Rs 1.20 lakh crore has an API of about Rs 50,000 – Rs 55,000 crore. Out of 10,000 manufacturers, about 70 percent are into drug formulation, and rest 30 percent are into manufacturing.

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