Healthcare and pharmaceutical industry stimulating demand for hiring talent

Healthcare and pharmaceutical industry stimulating demand for hiring talent

TimesJobs.com Bureau

Where global market slowdown has affected the major employment generators such as IT/Telecom, BFSi and ITeS, Healthcare/Pharmaceutical sector reported enhanced hiring activity during the first half of 2012, reveals TimesJobs.com Bi-annual RecruiteX.

"The Indian Healthcare sector is expected to reach US$ 100 billion by 2015 from the current US$ 65 billion, growing at around 20 % a year, according to rating agency Fitch," said Harshvendra Soin Chief People Officer Fortis Healthcare Limited, in the latest TimesJobs.com RecruiteX Bi-annual report.

A report by All India Management Association, Boston Consulting Group and the Confederation of Indian Industries (CII) stated that Healthcare industry is expected to generate over 40 million new jobs by 2020. It is projected that the Healthcare/Pharmaceutical industry will not just hire for core and specialized functions but will be seeking talent for support functions and general management profiles as well, revealed the TimesJobs.com Bi-annual RecruiteX report.

"Continuing on the growth trajectory, the Healthcare sector is expected to remain one of the leading employment providers in the country. The industry will hire professionals not only from healthcare but from other industries as well and for diversified functions," confirms Soin.

According to the Investment Commission of India, the Healthcare industry in India has experienced remarkable annual growth of 12% during the last 4 years. This is driven by a number of factors such as increase in the average life expectancy and average income levels, and rising awareness for health insuranceamong the population.

RecruiteX reported that governmental support, demographic and economic factors are the other major factors fuelling the growth of Healthcare/Pharmaceutical sector in India. The progressive nature of this industry in India is attracting huge investments from international players as well.

"Owing to post budget policies and sanction of new manpower plan for the new financial year, the acquisition trend in the industry is expected to pick up. Medical tourism and health insurance are also on a rise, with significant growth in healthcare sector and establishment of a large number of hospitals, both public and private," explained Harshvendra. All this is helping India emerge as a hub for medical tourism and facilities on the world map.

Pharmaceutical industry would grow at 19% in 2013: Morgan Stanley

Pharmaceutical industry would grow at 19% in 2013: Morgan Stanley

MUMBAI: According to a latest report by Morgan Stanley, Indian pharmaceutical industry would grow at 19% in 2013.

" We expect the intellectual property investments in the past few years to start bearing fruits in US and EU markets in FY13. There will be new drug launches, new drug filings and Phase II clinic trials throughout the year.", said Samir Baisiwala, senior analyst with Morgan Stanley in his report. Also other markets such as Japan and other emerging markets could be other growth areas.

However, he further mentions that stock selection would be critical. Earnings momentum, IP expressions and reasonable valuations should be the critical stock picking criterias.

Based on this, the company has given Overweight ( Buy ) and Equalweight (Hold) ratings to the large pharmaceutical stocks. According to the report, long term strategies appear better for Sun Pharma, Lupinand Dr Reddy's Lab. Cipla and Ranbaxy will need to do more to sustain their growth.

Overweight Stocks - Dr. Reddy's Lab, Sun Pharmaceutical, Lupin and Glenmark Pharma

Underweight - Ranbaxy, GSK Pharma and Biocon.

Indian pharma sector to grow to Rs 5 lakh cr by 2020: DoP

Indian pharma sector to grow to Rs 5 lakh cr by 2020: DoP

NEW DELHI: The Indian pharmaceutical sector is expected to grow 5-fold in the next seven years to reach Rs 5 lakh crore, as per government estimates.

"The department envisages that the industry will grow from its current level of Rs 1 lakh crore to Rs 5 lakh crore by 2020, becoming globally competitive and building India as a global provider of quality medicines at reasonable prices,"Department of Pharmaceuticals (DoP) Joint Secretary A J V Prasad said.

The pharmaceutical sector has grown over 3.5-fold in the last 10 years to reach Rs 1,19,075.7 crore. In 2000-01, the size of the sector stood at Rs 33,0,11.8 crore.

"...the quick estimates for Gross Domestic product ( GDP) for 2010-11 is Rs 76,74,148 crore and the share of the pharma industry for 2010-11, which is based on CMIE data, is 1.55 per cent," a source said.

The data for 2011-12 is not available, the official said, adding that the industry size in 1990-91 stood at Rs 6,314.5 crore. For 2009-10, it was Rs 1,06,209 crore.

In order to encourage production of drugs by indigenous industries, the 12th Five Year Plan (2012-17) has recommended capacity building of private sector to meet WHO-GMP standards and other international manufacturing standards.

The major recommendations of Plan include "enabling the Indian pharmaceutical industry to develop competence in advanced areas of drug manufacturing like dedicated research facility in bulk drugs, improving processes of manufacturing generics and APIs" the source said.

The Indian pharmaceutical industry is the third largest in terms of volume, and 13th in terms of value. The sector is growing at 14 per cent per annum.

Gujarat eager to create pharma machinery cluster

Gujarat eager to create pharma machinery cluster

AHMEDABAD: Gujarat government is eager to develop specialized pharma machinery cluster in the state. Principal Secretary of Industries and Mines, Gujarat, Maheshwer Sahu said government can make land available at Sanand near Tata Nano plant or even at Hansalpur near proposed Maruti Suzuki's plant for specialized pharma machinery cluster.

He was speaking at an inaugural function of Pharmac India 2012 at Ahmedabad. Pharmac is a three day exhibition of pharma ancillary industry showcasing machinery, equipment and material. Mr Sahu was chief guest at the event.

According to Mr Sahu, to bring vibrancy in the state's pharma machinery sector; the government is ready to provide impetus by developing specialized engineering pharma machinery cluster. He also emphasized that policy should be developed to support export in pharma machinery.

Gujarat's Food and Drug Control Administration (FDCA), commissioner, H G Koshia, commissioner said his department is playing a pro-active role in development of pharma industry in the state and will continue to extend any support for the growth of pharma machinery sector in the state.

Pharmac India is organised by Orbitz Exhibitions Pvt Ltd in cooperation with Indian Drug Manufacturers Association (IDMA) and supported by Pharmexcil, BDMA and CiPi. On the first day of the Pharmac exhibition, nearly 4000 visitors' footfall has been recorded by the organizers.

There are 200 stalls showcasing pharma ancillary industry, bulk drug makers and drug formulation companies. Atul Shah, treasurer at IDMA's Gujarat chapter expects a total of 10,000 to 12,000 visitors by end of the three days exhibition.

The third edition of Pharmac India has been organised in Gujarat, as the state is at the forefront in thepharmaceutical industry growth in India. Gujarat's contribution to the growth of India's pharmaceutical industry has been significant.

Gujarat has the highest number, 41, of USFDA approved plants. The remaining 119 plants are scattered all over the country. The state's pharma industry contributes 40% to national pharma turnover and has a 22% share in Rs 42,263 crore pharmaceutical exports.