In 2007, the Indian pharmaceutical industry looks ahead at a colourful horizon, what with contract research and clinical trials businesses taking wing and the new patent regime opening new avenues for players in the country. Growing consistently at 9.5 per cent in the last 5 years, the Indian pharmaceutical industry could zip at 13.6 per cent between 2006 and 2010 and reach a market size of US $9.48 billion by 2010 from its present level of about US $5.7 billion. The sector recorded strong growth in the second quarter ended September '06, driven by launch of new generic drugs with 180 days exclusivity period in the US market. The top ten pharma companies reported an impressive 57 per cent growth in consolidated net profit at US $314.3 million, as against US $200.7 million in the same quarter of the previous year, while consolidated net sales were up 51 per cent at US $1.7 billion.

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