A STUDY ON FINANCIAL PERFORMANCE OF PHARMACEUTICAL

Indian pharmaceutical history began from Gupta period which was existed from approximately 320 to 550 CE. The Indian pharmaceutical industry is the world's second largest industry by volume and is likely to lead the manufacturing sector of India. The first pharmaceutical company is Bengal Chemicals and Pharmaceutical Works established in 1903 at Calcutta, which still exists today as one of the fifth government owned drug manufacturers. Since then there is no looking back and today, India has become one of the leading pharmaceutical products manufacturing nation. Even without strong patent protection, the Indian pharmaceutical industry matured during 1980s. Companies also started to produce products better tailored for their markets than typical MNCs products. This fact would become evident by the current scenario of the industry, wherein it is not just meeting the increasing demand of the huge population of the country, but also exporting the products to other developing and developed countries of the world including USA. Global pharmaceutical sector observed a tremendous growth. The countries like Germany, Switzerland, UK and some extent of US are the major countries contributed for the global growth. The Indian pharmaceutical sector could achieve the growth up to Rs. 100 cores in 1962 due to the Industrial Policy Resolution of 1956, which leads to the expansion of many units of MNCs and the establishment of many new Indian companies. Indian pharmaceutical sector having considered as Global leader held the position at 3 rd rank in the world in terms of volume and 14th rank in terms of value. A Price Waterhouse Cooper’s (PWC) report stated that the value of the sector would reach US $ 74 billion by 2020. The achievement as the Global Leader became possible only by sharing hands of the Indian government, public sector and private interpreters. Indian government became more cautious about the quality of medicine and also implemented certain rules in its new drug policy as per the WHO standar