The Indian challenge: The evolution of a successful new global strategy in the pharmaceutical industry

UK and European public policy has sought to encourage young biotechnology firms adopt American- inspired strategies. The venture- backed start- up associated with Silicon Valley and Route 128 in Boston, has been the preferred model. These policies have had limited success thus far. Indian companies are evolving indigenous business models that are achieving success within the pharmaceutical industry. Some Indian pharmaceutical firms, established initially as low cost suppliers, are investing in building innovative capabilities. This paper analyses the strategies and trajectories of a number of Indian pharmaceutical companies that are expanding successfully in Western markets. It assesses the local and international contextual factors that have underpinned the strategies and discusses relevant conceptual frameworks.