The Indian pharmaceutical
industry has witnessed significant transformation
in the last few years as the country became
signatory to the product patent regime in
compliance with WTO norms. The Indian generics
story continues unabated as the industry now
represents a fifth of the global production.
New challenges such as authorized generics
and consolidation among international players
increase the growth barriers.
These challenges have presented an opportunity
for businesses to adapt through innovative
business models such as product in-licensing,
CRAMS, and Custom synthesis for new products.
IVF believes that openings exist in each of
these segments for building world-class businesses.
In the emerging field of biotechnology, IVF
made a successful investment in Biocon
|
|
Limited, a leader
in manufacturing statins and enzymes using
fermentation technology. IVF believes that
biotech based manufacturing continues to be
attractive as the pipeline of drugs grow and
approved manufacturing capacity is unable
to keep pace. Other emerging subjects in biotechnology
in India are drug delivery systems and proteomics.
They are hitherto in the nascent stage and
should break into the mainstream in a few
years.
IVF envisions tremendous prospects in the
domestic market for outsourced clinical research
services, manufacture and distribution of
medical devices especially in cardiology,
orthopedics, and prescription drug wholesaling.
In the field of healthcare delivery,
IVF started with an investment in Quality
Care India Limited, a premier tertiary care
|
|
company
in India. As the focus on quality of care
comes under increasing scrutiny,
IVF looks positively at all aspects of the
healthcare delivery value chain including:
ambulatory surgery centers, diagnostic chains,
and integrated primary care.
Healthcare in India has been thus far funded
through government sponsored healthcare programs
or out-of-pocket. As the focus on health increases
amongst private employers and the government
(witnessed by growth of health insurance)
we expect significant changes in the payor
profile over the next few years. IVF has invested
in TTK Healthcare Services, India’s second
largest healthcare claims administration company
and is seeking other investments in this area.
|
