According to a report, most multinational pharma companies struggle to compete with the intense marketing and sales of domestic pharma companies in India. This led them to downsize their operations in India. Domestic pharma companies invest 25 to 30% of their revenues on large medical representative teams, resulting in 98% of doctor prescriptions comprising their branded generics. In addition, multinational pharma companies are also struggling to handle the complex regulatory environment and intense pricing pressure in India.
As a result, they are forced to reduce prices for their products aggressively to remain in the competition. However, India is not the top priority country for the top five multinational pharma companies. Only one major foreign company prioritizes the Indian market over the US market. Consequently, the multinational pharma companies have lost their marketing share…
