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Strategic manufacturing shifts: Entry into peptide therapeutics: Domestic firms are scaling capabilities in high-value biologics Device-linked delivery: Growth in injector pens and cold-chain logistics is creating adjacent opportunities Cost arbitrage: Indias manufacturing efficiency supports competitive global pricing Localization strategies: Eli Lilly has already invested in manufacturing infrastructure in Hyderabad to de-risk supply chains This transition aligns with Indias long-term ambition to move up the pharmaceutical value chainfrom volume-driven generics to innovation-led manufacturing

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October 1, 2022