Thursday, March 11, 2004
SPOTLIGHT INDIA: US drug makers turn to India to help lower costs
Pharmaceutical companies in the US are now looking at India in an attempt to help bring down the price of drugs.
According to an article from the Hindu Business Line, US drug makers could save at least 60% in producing new drugs by outsourcing R&D and other services to India.
The benefit from partnering with Indian companies is not only in reducing costs but in the time it takes to produce these drugs.
According to another report, India has a good shot at cornering at least one-fifth of outsourcing opportunity in the global pharmaceutical industry worth $48 billion.
Indian drug companies have strengthened their manufacturing processes over the years. While in the early days Indian companies imitate their Western counterparts, they now do work for the likes of Pfizer and GlaxoSmith Kline.
Recently, Matrix Laboratories and three other drug companies have been tapped by a US Foundation to supply low-cost anti-AIDS drugs to AIDS-stricken regions like Africa.
India providing outsourced services is not just about allowing theri customers to save large sums of money. From a larger perspective, it's about helping to make this world a better place.
Pharmaceutical companies in the US are now looking at India in an attempt to help bring down the price of drugs.
According to an article from the Hindu Business Line, US drug makers could save at least 60% in producing new drugs by outsourcing R&D and other services to India.
The benefit from partnering with Indian companies is not only in reducing costs but in the time it takes to produce these drugs.
According to another report, India has a good shot at cornering at least one-fifth of outsourcing opportunity in the global pharmaceutical industry worth $48 billion.
Indian drug companies have strengthened their manufacturing processes over the years. While in the early days Indian companies imitate their Western counterparts, they now do work for the likes of Pfizer and GlaxoSmith Kline.
Recently, Matrix Laboratories and three other drug companies have been tapped by a US Foundation to supply low-cost anti-AIDS drugs to AIDS-stricken regions like Africa.
India providing outsourced services is not just about allowing theri customers to save large sums of money. From a larger perspective, it's about helping to make this world a better place.
