Not just India, but other countries as well. I have posted many articles on the blog referencing outsourcing over the last year or so and all of Big Pharma has interests in foreign countries including the strong possibility of phase 1 clinical trials.
The one comment I have to make here with food and drugs becoming such a global economy, is that it should be a national law that every consumable product be labeled with the City, State, and Country of origin, as when recalls occur, look how long it takes to get the information to the consumer, this could save lives! BD
According to the study, the Indian Pharma sector is also growing robustly and is expected to move from being domestic led to exports driven by 2010.
Zinnov Management Consulting has released the findings of an in-depth study on the ‘Indian Pharmaceutical Offshoring Landscape’. The study provides a detailed analysis of the Indian pharmaceutical offshoring industry which is slated to become a US$2.5bn opportunity by 2012.
One of the key factors driving the off shoring wave is increasing R&D costs, which in-turn is compelling Pharmaceutical organizations in the US and EU to look for new low cost R&D destinations such as India and China.
A transition is also being observed in the growth of pharmaceutical markets from the top seven established pharmaceutical markets to emerging markets like India, China, Brazil, Mexico, South Korea, and Russia – which will grow at 12-13 % in 2008, and become a USD 85-90 billion market, captures the study.