Financial Daily from THE HINDU group of publications
Monday, Jun 12, 2006
Financial Daily from THE HINDU group of publications Monday, Jun 12, 2006 |
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Industry & Economy
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Pharmaceuticals US biopharma cos prefer India to China Our Bureau
Bangalore , June 11 US biopharmaceutical companies prefer India to China for their immediate expansion plans through outsourcing to get a foothold into the market. Though lack of knowledge of the market and the Indian regulatory issues are an issue, the US companies are, however, keen to strike alliances with Indian companies. They are keen to expand their business in India in the next two years while their interest in China is more long term, according to a joint survey conducted by Cygnus, business consulting & research organisation in Hyderabad, and ATS Ventures Advisors, NY.
Flourishing avenues
With cross-border alliances becoming a powerful growth driver of the biotech industry for market expansion and cost effective sourcing, opportunities abound for the US and the Indian companies to tap each other's market. The global biopharma market was estimated at $64.3 billion in 2005 and with increasing cost of drug discovery, lower R&D productivity and slower returns on investment, outsourcing for drug discovery, manufacturing and clinical research have become the drivers for market expansion. Mr O.R.S. Rao, Director, Cygnus, said the survey has been documented in two modules relating to the US and Indian situations and highlights the potential of the biotech industry, opportunities offered by it and the manpower requirement to steer the demand-supply issues. Mr Steven, C. Bailey, General Partner, InVenture Parners, LLC, affiliate of ATS Venture Advisors, said his company is helping a few US companies seeking partners in India.
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