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According to McKinsey, these markets will add 46 million households with high cod hydrocodone overnight delivery and medium affordability levels •Indian drug prices increased by only 1-2% annually over the last decade according to the IMS; per capita income of the average Indian accelerated 16.7% between 2006-07 and 2010-11, making healthcare more affordable •Indian government spending on healthcare increased 20% CAGR over the last four years (US$ 6.7 billion in 2005-06 to US$ 11.7 billion in 2008-09). The Government of India plans to cover 45% of India's population by 2020 •The government plans to establish a Rs 20 billion venture capital fund to promote drug discovery and strengthen infrastructure in the pharma sector to boost local innovation. Estimates •Socio-economic factors such as rising income levels, increasing affordability, gradual penetration of health insurance and rise in chronic diseases will see the Indian formulation market touch US$ 13.7 billion by 2013 based on a 12.2% CAGR. (Source: The Financial Express) •There are immense opportunities for Indian generic firms in the US, Europe, Japan and Australia, owing to 50% lower production costs than in western nations - Indian R&D costs 1/8th and clinical trials cost 1/10th of western counterparts. Moreover, branded drugs going off-patent in the near future are likely to create a huge market for generic drugs in the US.

Similarly, a number of regions are looking towards India as a supplier of quality generics •India emerged as a prominent global supplier of high quality generic drugs, with the potential to cater to 10% of the total market by 2015. Indian CRAMS market Global CRAMS market 25 . 18 21 m 15 29 33 37 42 2007 2008 Source: ICRA report (June 2011) 2009 2010 80 70 60 50 40 d 30 J 20 m 10 ton S? 0 H Contract manufacturing 1 5 1 0 9 ___ 0.6 2.3 0.3 11 1 6 0.8 2007 2008 Drug discovery and research • India is expected to rank among the top 10 global pharmaceutical markets by 2015 (Source: The Financial Express). Indian CRAMS sector The opportunity for CRAMS in India is large. US companies have reduced their R&D spending in the recent past.

These companies are outsourcing their R&D to reduce their operating expenses and hence, shift base to low-cost destinations, possessing high chemistry skills, making India and China preferred outsourcing destinations. The cod hydrocodone overnight delivery Indian pharmaceutical outsourcing providers possess capabilities to provide late stage discovery (research chemistry) and drug xanax stopping development services. However, they are in the process of building research biology skills to facilitate early stage discovery.

The Indian contract research industry grew at a 65% CAGR (2007-10) to reach around US$ 1.5 billion in 2010, outpacing the 15% growth in the global contract research market over the same period (the global market stood at US$ 25 billion in 2010). Contract manufacturing operations are the largest contributors (more than 60%) to the total CRAMS earnings. India has emerged as a master in value engineering products, which are similar to patented products in a non-infringing manner, strengthening its expertise to challenge patents in the US FDA, which was perceived as a threat to global companies. However, the Indian Patent Protection Amendment Act, 2005 addressed these threats and opened larger opportunities for contract research operations from regulated markets. Credible estimates suggest that the Indian CRAMS space is expected to grow at 15% over the medium term. India, an enabler for contract research outsourcing Potential savings in outsourcing end-to-end research and development to India 120 100 80 60 40 20 0. 8.9 20-25 Potential cost saving of ~ 60% 25 35-40 : '' Total R&D cost in India Total R&D Cost in US Research biology Research chemistry Development cost Source: ICRA report (June 2011) Pillars of business sustainability Integrated operations Orchid commenced its operations in 1994, and is one of the few, fully-integrated, globally-present Indian cod hydrocodone overnight delivery pharmaceutical companies.

Orchid's state-of-the-art R&D and manufacturing infrastructure received approvals from global regulatory authorities and enjoys marketing alliances engine order phentermine prescription search with large globe generic majors, distributors and agencies.

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