What is the standing of the Indian animal health care companies in the global scenario?
As mentioned earlier, the human and veterinary vaccines market is around $10 billion. This comprises of $2 billion in animal health, growing at 4 percent per annum and $8 billion in human health growing at 9 percent per annum. The Indian market is very diminutive. The developed countries account for 85 percent of the total pharma industry and the Indian market is about $150 million, with the veterinary segment accounting for $20 million. There’s no comparison in terms of market share but when assessed in volumes we have reasonable numbers. But prices in the developed countries are much higher and that’s what makes the difference. In the vaccine industry, there are four companies that are dominating the global market. They operate in high-innovation driven, high-price markets. But we operate in a totally different paradigm. We are not innovators but imitators. However, we are now getting good on the innovation side too. We develop vaccines, which are already in the market and at afforda
