PFIZER'S KEWALHANDA SAYS Indian Pharma Is Likely To Post A GDP Growth Of 9.2 % In FY 2011 & 11% In 12

Top Quote Pharma Industry Hired 7,39,064 jobs between January to September 2010 & will increase 20% to the current rate of 12% - Pharmaleaders Magazine. End Quote
  • (1888PressRelease) December 30, 2010 - KEWAL HANDA OF PFIZER SAYS Indian Pharma Industry is likely to post a GDP growth of 9.2 % in FY 2011 & 11% in 2012
    Pharma Industry Hired 7,39,064 jobs between January to September 2010 & will increase 20% to the current rate of 12% - Pharmaleaders Magazine

    New Delhi : The second decade of the new millennium 2010 to 2020 will be the defining moments for the Indian Pharmaceutical Industry as Indian Pharma Majors are geared to witness the New World Order in indian Pharma Industry revealed in an exclusive survey carried out by Pharmaleaders Magazine, India's leading bi-monthly Pharmaceutical Magazine ( ) published in India. Kewal Handa, Pfizer & Wyeth Indian Chief, who was recently felicitated in an event in Mumbai the highest honour as 'Pharma Professional of the Year 2010' by Pharmaleaders Magazine ( ) in a star-studded meet titled Limitless Leadership at 3rd Annual Pharmaceutical Leadership Summit 2010 in mumbai while delivering a Keynote Presentation in the meet said " Indian Pharma Industry can achieve GDP growth of 9.2 % in FY 2011 & 11% in 2012". In his opening address he described the current Leadership in the face of Change P as Perspective in terms of BIG PICTURE, H as HIGH DEGREE OF INNOVATION, A is ACCURACY IN PLANNING, R as RESSILENCY IN EXECUTION, M as MONITORING & MENTORING & A as ACCOUNTABILITY.

    In a relatede Devlopment , the second decade is likely to usher in good news for those vying for jobs in pharmaceutical Industry in India, as hiring in 2011 will continue to remain robust. Interestingly according to a PricewaterhouseCoopers Report titled 'India Phrma Inc : 'Capitalising on India's Growth Potential', leading pharmaceutical companies in the country have increased their sales forces by about 50 per cent in 2010. The report elaborated that both multinational companies and domestic firms are taking steps towards maximising potential returns from branded generics. Domestic firms are also looking to increase their share of the branded generics market, with some leading pharmaceutical companies adding to their sales forces by 50 per cent during 2010," it stated. Pharma Sources & insiders claimed that on the whole, hiring in the pharmaceutical Industry has grown by 11-12 per cent this year.This includes personnel for R&D and general management, among other categories.

    While the organised sector in India has created around 7,39,064 jobs between January to September 2010, and another 3,94,700 jobs are expected to be added in the current quarter, according to a Ma Foi Randstad Employment Trends Survey, the healthcare sector alone has generated 260,052 jobs. The Ma Foi report suggests that the sector has emerged as one of the largest and fastest growing services sectors in the country with an estimated GDP spend of eight per cent by 2012 from 5.5 per cent in 2009. In the healthcare sector, pharmaceuticals has been the leader in hiring experienced staff at 83.7 per cent. It is important here to note that "the trends do suggest that hiring across sectors has picked up substantially in the second half of 2010 with companies estimated to have created over a million jobs in the organised sector.Improved economic conditions coupled with expansion plans across sectors continue to stoke hiring activities, especially in the first half of 2011. Recent projections from Mercer tip Pharma as one of the hottest sectors for 2011 which will pay average hikes in the neighborhood of 13 per cent. This will have deep impact in other sectors as well.

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