The 1930. For the next 60 years, most of

The Pharmaceutical
Industry develops, produces, and markets drugs licensed for use as medications.
For this they have a well-equipped R&D department. Pharmaceutical companies
are allowed to deal in generic and/or brand medications and medical devices.
They are subject to a variety of laws and regulations of the government
regarding the patenting, testing, pricing and ensuring safety and efficacy and
marketing of drugs. The Indian Pharmaceutical industry is the second-largest in
the world by volume and is leading the manufacturing sector of India. The
Indian bio-tech industry has achieved a growth rate of 17 percent and has
gained revenues of Rs.137 billion ($3 billion) in the 2009-10.
Bio-Pharmaceutical was the biggest contributor generating 60 percent of the
industry’s growth at Rs.8, 829 crores, followed by bio-services at Rs.2, 639
crore and bio-agriculture at Rs.1, 936 crores. The first pharmaceutical company
was Bengal Chemicals and Pharmaceutical Works, which still exists today as one
of 5 government-owned drug manufacturers, in Calcutta in the year 1930. For the
next 60 years, most of the drugs in India were imported by multinationals
either in fully formulated or bulk form. The government started to encourage
the growth of drug manufacturing by Indian companies in the early 1960s, and
due to the Patents Act in 1970, the industry got an opportunity to grow. This
patent act removed composition patents from food and drugs, and though it kept
process patents, these were shortened to a period of five to seven years. The
lack of patent protection made the Indian market undesirable to the
multinational companies who had dominated the market, and while they streamed
out, Indian companies started to take their places. The multinationals were
market leaders at that time because of their superior technology. As a result
of this, they had gained expertise in reverse-engineering new processes for
manufacturing drugs at low costs. Although some of the larger companies have
taken small steps towards drug innovation, the industry as a whole has been
following this business model until the present. Introduction to Pharma
Industry 28 Research and Development Drug discovery is the process by which the
required drugs are discovered or designed. In the past most drugs have been
discovered either by isolating the active ingredient from traditional remedies
or by serendipitous discovery. A great deal of early-stage drug discovery has
traditionally been carried out by universities and research institutions. All
this requires constant innovation and research by either the traditional or
modern methods, or a combination of both. Drug development refers to activities
undertaken after a compound is identified as a potential drug in order to
establish its suitability as a medication. Objectives of drug development are
to determine appropriate Formulation and Dosing, as well as to establish
safety. Research in these areas generally includes a combination of in vitro
studies, in vivo studies, and clinical trials. The amount of capital required
for late stage development has made it a historical strength of the larger
pharmaceutical companies. Often, large multinational corporations contribute in
a broad range of drug discovery and development, manufacturing and quality
control, marketing, sales, and distribution. On the other hand, smaller
organizations lay emphasis on a specific aspect such as discovering drug
candidates or developing formulations. Often, collaborative agreements between
research organizations and large pharmaceutical companies are formed to
discover any probability of new drug.