Innovation Spaces in Asia
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Innovation Spaces in Asia

Entrepreneurs, Multinational Enterprises and Policy

Edited by Maureen McKelvey and Sharmistha Bagchi-Sen

Innovation Spaces in Asia provides insight into how and why Asia is poised to impact global innovation. Asia is undergoing rapid developments in markets, sources of technology and user preferences. A key characteristic of the book is the rich empirical understanding of the dynamic processes, involving the strategic decisions of firms and entrepreneurs with the broader socio-economic environment in terms of institutions, markets, knowledge and innovation systems. Innovation spaces are analyzed within Asian countries and firms, from Asia to the world, and from the world to Asian countries.
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Chapter 10: Evolving global innovation networks of Indian pharmaceutical companies

Peter Kedron and Sharmistha Bagchi-Sen


This chapter addresses how Indian pharmaceutical companies are expanding their innovation spaces. India has become a leading source of emerging-market outward foreign direct investment (OFDI) (Athreye and Kapur 2009; UNCTAD 2013). However, unlike many other emerging nations, Indian OFDI targets advanced economies and knowledge-intensive industries (Kumar 2008; Pradhan 2008). One of India’s most active outwardly investing industries is the pharmaceutical sector. From 1961 to 2007, the pharmaceutical industry accounted for 14 percent of all Indian OFDI, 94 percent of which occurred between 2000 and 2007. Similarly, Indian pharmaceutical companies completed 87 foreign acquisitions from 2000 to 2007, representing 31 percent of all Indian foreign acquisitions (Pradhan 2007). The Indian pharmaceutical industry is now a major international contender of worldwide generic drug production, advanced pharmaceutical ingredient (API) development, and contract manufacturing. India is the world’s third largest pharmaceutical producer by volume, accounting for 10 percent of global production (Department of Pharmaceuticals 2012).

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