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Indian pharmas enter more global deals
By agencies
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Monday, 22 May 2006, 19:30 IST
PANAJI: Global pharma and biotech companies, especially those from U.S, Europe and Japan, are keen to sign agreements with Indian companies, according to experts.
Talks of signing partnership agreements with Indian firms in the field of research and development were at the center of discussions.
Aroop Zutshi, President Frost and Sullivan said, "Last year, seven to eight such partnerships emerged after the summit in Goa. This time, we expect more. "Major pharma and biotech companies in the U.S, Europe and Japan download $500 million worth R&D undertaken in the life science industry in India."
Foreign companies are eyeing India because of the cost efficiency in R&D. The industry, however faces the challenge of bridging gaps between demand and supply, he said. "There is a shortage of skilled manpower by almost by 50 percent," he added.
The life science industry in India is pegged at $2.5 billion, which is minimal compared to the global size of $75 billion, experts said.