Written by ForeignExchange Translations on Thursday, August 05, 2010
According to a recent article in The New York Times, India is set to leave behind its image as clinical research site and producer of knockoff drugs.
India's drug industry — on track to grow about 13 percent this year, to just over $24 billion ... as a result of recent strengthening of patent law here and cost pressures on name-brand drug makers in the West.And the recent news out of India does seem to support this. From new and clearer regulations to industry making new investments to the above-mentioned progress with drug patents, India is taking on a more mainstream role in the global pharma industry.
But as often seems to be the case in news concerning India, there are plenty of doubts too. For example, one commentator opined that the prospect of Indian pharmaceutical/drug researchers being ripe to take on a major role was "doubtful", what with universities that are geared to produce run of the mill graduates.
Sour grapes or smart insight? Time will tell. But when the likes of Abbott tout their move to become the "No. 1 Pharmaceutical Company in India", it's likely that something big is going on.
ForeignExchange supports the medical translation needs of pharmaceutical and biotechnology companies. From R&D to clinical research to submissions and marketing, ForeignExchange's service, quality, and pricing stand alone.