Geo-Eye

Abstract

In modern world, business environment is characterized by increasing global competition rapidly changing technology and amazing growth in international trade and foreign investment. These changes have implications for marketing decisions in an organization. Perspectives on what constitutes marketing and on the place marketing holds in the firm have undergone substantial change over the years. The rapid changes in society and the increasing information din pose supreme challenges especially to small and medium-sized business. The present paper aims to study distribution, future growth and problems of pharmaceutical industry in Goa. The pharmaceutical industry is perhaps among a few sectors in the Goan economy, whose foundation is built on the process of internationalization. Now domestic pharmaceutical companies are leading this process by adopting a host of new strategies like exports, green field, direct investments abroad, acquiring overseas companies, contract manufacturing and research and strategic alliances with global firms. The industrial activity is on fast track in Goa with positive government attitude and support. Besides, the mining and tourism sectors, the pharmaceutical industries also encourage effectively. As a result, the regulated bodies like US FDA, UK MHRA etc have extending their cooperation in all process. The present paper is designed to fill a need in providing planning approaches and guidelines for the future growth of pharmaceutical industry in Goa. Well known Indian Pharma companies like Ranbaxy, Cipla, Cadila, Lupin, Dr Reddy's Laboratories, Glenmark Pharmaceuticals, Unichem Lab, FDC, Indoco Remedies invested huge funds in setting up plants in Goa. Further, multinational companies like Aventis Pharma, Wyeth, and Merck also put up their plants. With better infrastructure facilities, the companies are expanding their operations.

Keywords: Pharmaceutical industry, Small Scale, Challenges, Pattern.