Declining R&D productivity and the gradual decline of the blockbuster business model has forced many global pharma majors to explore opportunities in generics. Generic drugs, once perceived as a serious threat to innovator companies, are now considered part of the solution to the declining revenues generated from innovator drugs. More and more pharma majors are now looking to gain entry into the generics space by making strategic mergers and acquisition (M&A). And India, with its strengths in generic drugs production and large ever expanding domestic market, has become a key destination for ensuring future revenue growth for these companies.
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