The industry plays a vital role in Goa as well as India’s health care system by providing safe, proven alternatives to more expensive brand name prescription drugs. In addition, pharma companies are increasingly exporting their products and expanding their presence throughout the world. Pharmaceutical formulations are the major focus sub-sector in Pharma industries in Goa.
The pharmaceutical industry in Goa produces 12% of the total medicines manufactured in India; and about 70% of their produce is exported to the most developed countries in the world; while 30% is consumed in the domestic market. The Pharmaceutical and Medical Devices Sector accounts for a 10% share in the State’s GDP with estimated yearly revenues of more than Rs. 18,000 crores (USD 2.40 billion). 70% of the production accounts for exports amounting to USD 1.57 billion. The Verna Industrial Estate has Pharmaceutical and Medical Devices Clusters as pharmaceuticals being one of the focus sectors of the investment policy of Goa. Goa has intensive industry-academia connect with the presence of premier institutes like IIT, NIT, BITS, GIM, pharmacy colleges, engineering colleges that provide access to readily available talent for the ecosystem. Goa is also well connected by sea and air. The Mormugao port is a notified port for both import and export of pharmaceutical products with an Assistant Drug Controller Office in Mormugao.
There are major existing players including several MNCs in the pharmaceutical sector like Sanofi, Ranbaxy, Cipla, Cadila, Lupin, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Unichem Lab, FDC, Indoco Remedies, Abbott, Pfizer etc. with Goa being the 4th largest Pharma producer of the country with more than 100 manufacturing units in the pharmaceutical sector. 100% FDI has been allowed under the automatic route. The Govt of India has also launched a scheme on “Promotion of Medical Device Parks”. Govt of Goa is actively looking to establish a Medical devices Bio Park to foster the indigenous manufacturing of medical devices. Currently, Goa has around 15 manufacturing units in the Medical devices sector which include diagnostic reagent kits, orthopedic implants and medical consumables like plasters. Presence of companies in pharma, suppliers ecosystem like pharma packaging, storage, pharma machinery spares etc. which can provide opportunities for favourable synergy. About 54 pharma manufacturing units in Goa are currently licensed, employing over 20,000 people.
The pharmaceutical segment has established its concrete presence in Goa and received approvals from regulated bodies like US FDA, UK MHRA etc.
Goa is strategically located with good infrastructure facilities with airport, a seaport, connectivity by road network and other amenities. Also, locally manufactured equipment by ancillary units are being used in these pharma industries.
Industrial Infrastructure/ Key Incentives & Schemes that Make Goa Attractive for Pharma