Financial Daily from THE HINDU group of publications
Wednesday, Oct 01, 2003
Financial Daily from THE HINDU group of publications Wednesday, Oct 01, 2003 |
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Industry & Economy
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Pharmaceuticals Scope seen for clinical research outsourcing Our Bureau
Mumbai , Sept. 30 THE potential India offers for taking up outsourced clinical trial research by a string of global pharma companies was highlighted at the 37th annual general meeting of the Organisation of Pharmaceutical Producers of India (OPPI). Setting the tone for the discussion, Mr Ranjit Shahani, OPPI President, said that a number of global companies have commenced outsourcing clinical trial research in India and many more are likely to follow suit. After Pfizer set up a biometrics centre in 1997 to leverage the cost advantage and has doubled its clinical research investment in India since, AstraZeneca invested $40 million in a research facility in Bangalore to primarily focus on finding new treatments for tuberculosis. Novartis set up the Novartis International Clinical Development Centre (NICCI). "GlaxoSmithkline India is planning to join hands with domestic firms for long-term research so as to broaden and deepen the country's research capabilities. Even Indian companies like Dr Reddy's Laboratories, Workhardt and Nicholas Piramal are increasing their investments significantly in research," Mr Shahani said. India has multiple strengths which can make it a preferred destination for outsourcing R&D, especially as it ranks third, after the US and Russia, in terms of number of science and engineering students, he added. According to him, the practice of medicine is likely to change over the next decade to accommodate genetic profiling, pharmacogenetics, novel diagnostics and gene therapy. "The era of personalised and predictive medicine is not far away," he said, adding that the period of personalised medicine came a step closer when Roche Holdings launched the world's first `gene chip' to test how individuals react to drugs. On the potential, he said that the pharmaceutical market in India is estimated at $6 billion, which is expected to grow to $25 billion by 2010 and $100 billion in 2025.
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