India's Pharmaceutical Innovation Lags Behind US and China Amid Ecosystem Challenges
India, known as the 'Pharmacy of the World' for producing one in five generic medicines globally and supplying vaccines to over 150 countries, has produced only eight indigenous pharmaceutical innovations since 2021. These innovations come from a few companies and span new chemical entities, biologics, and novel therapies. Compared to the US and China, which have produced hundreds of innovations, India's challenge lies in its innovation ecosystem, particularly the lack of clinical data exclusivity, which other major markets provide to support pharmaceutical development.