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September, 2006 Pragati Maidan, New Delhi, India |
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Prescription for a ‘healthy’ India…
CII report: India can shine in pharma.
In a latest study the CII asserts that the pharma industry in India is exporting drugs over $2 billion annually and with a growth rate of 35 percent and low clinical trial cost of $25 million as opposed to 300- 350 million in the US a further increase of $1 million per annum is possible by launching low- cost drugs developed by the country’s scientists.
The report reasons that the country’s vast population and wide spectrum of disease conditions will offer wide patient resource for clinical trials and also since India enjoys the largest USFDA approved plants outside US it is favorable for investigational new drug stage at about $ 10- 15 million as compared to $ 100- 150 In the US.
However blaming the 30- year- old price control mechanism that dissuades pharma companies from manufacturing essential drugs, like for tuberculosis and malaria, the study pointed out that prices are not remunerative and have resulted in not many companies making such drugs n and since research requires high investment and funding the backlog remains.
Date: 17-Nov-2004
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