The confluence of several circumstances has elevated India’s stature within the pharmaceutical industry. Initially recognized as a cost-effective outlet for drug manufacturing, especially generics, India’s role has grown to encompass higher level contract research and clinical trials. Thanks to the amendment of India’s patent act in March 2005, which introduced product patents, an increasing number of multinational pharmaceutical companies are bringing their R&D operations to India.
The fact that India has the largest number of FDA–approved drug manufacturing facilities outside the U.S. makes India even more attractive to large pharmaceutical companies. The country also has an educated and English-speaking workforce with vast expertise in the areas of basic science, biotechnology, computational science, statistics and engineering. The combination of India’s proven expertise in other industries, such as IT, its safety in terms of regulations and patent protections, and its competitiveness from a skill and cost standpoint, are among the reasons that the Indian biotech sector is expected to achieve $5 billion in revenues by 2010, as estimated by the Department of Biotechnology (DBT), Government of India.
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