Pharma firms turn to India for expertise
Other than software development, the scientific community in India now
also plays a significant role in the global pharmaceutical industry.
According to a recent Reuters report, India has already edged out Europe
as the leading source of active ingredients US pharma firms use to develop
new drugs.
More importantly, however, multinational drug-makers are also turning to
India's chemists and medical professionals for expertise. Drug companies
are currently scouting around India for painstaking chemical synthesis
work for early drug development.
India's role in extends all the way from the development phase to testing
of new drugs.
The country's half a million doctors, 171 medical colleges, 16,000
hospitals and an abundance of many diseases make it ideal for clinical
trials that eat up 70% of drug development costs.
Companies like Pfizer and Novartis have also made India a base of
operations to collate and analyze data from clinical trials worldwide.
Why do drug companies turn to India for help? It's because India itself
has an active drug manufacturing industry.
Indian drug companies have been regarded before as "copycats" to
more-recognized counterparts in the US. Now, companies like Pfizer and
Glaxo Smith Kline areshopping for promising new treatments that may emerge
from India's own drug discovery efforts.
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