Contract Research in the Indian Pharmaceutical Industry | |
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Report Code: INDR-0007 Period: 2000-05 Industry: Pharma & Biotech Countries: India Report Length: 24 Pages |
Year of Publication: 2006 Price: Electronic Format: Rs. 400 |
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EXECUTIVE SUMMARY With the unprecedented success of BPO in India, few companies began off shoring high end knowledge-based activities like investment research, clinical research, drug discovery, patent filing, and legal and insurance claims, which led to the growth of Knowledge Processing Outsourcing (KPO) industry. Pharmaceutical, biotechnology, information & communication technology, legal, intellectual property research, automobile and aerospace industries were identified to be emerging areas for KPO. Contract research is the major activity of the KPO industry in the pharmaceutical sector. From 1971 to 2004, when India was under the process patent regime, pharmaceutical companies, gained competencies in the area of reverse engineering and R&D. After India entered the product patent regime in 2005, major pharma firms have been investing heavily in R&D. India had gained proven abilities in the area of contract research. Contract research in India provides between 40 and 60% and sometimes even as high as 90% cost savings over research costs incurred in the US. In 2005, the clinical trials industry in India was worth nearly US$ 100 million and was growing at the rate of 20% per annum and will be worth between US$ 1 billion and US$ 1.5 billion by 2010. The drug discovery outsourcing market is estimated to cross US$ 6 billion by 2007. Contract Research Organizations (CROs) in India offered a wide range of services in the field of drug discovery like chemical synthesis, methodology development in analytical techniques, process upgradation & development and scale-up processes. The fact that India has a huge population of English speaking, technically educated people coupled with low employee costs proved to be a shot in the arm for contract research in India. The country also has a big patient pool that attracts multinationals interested in conducting clinical trials. The patient pool consists of people suffering from many diseases and belonging to different ethnic groups. This provides multinationals a chance to understand the effects of their drugs on diseases and their tolerance among different ethnic groups. This report discusses the strategies of some of the leading CROs in India – Quintiles Spectral (India) Limited, Syngene International Private Limited, Clinigene International Private Limited and Vimta Labs. The problems the CRO industry is facing and its future prospects are also discussed in detail. |
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