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Advantage India in pharma sector: E&Y
By agencies
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Tuesday, 24 May 2005, 19:30 IST
MUMBAI:Indian pharma companies hold a competitive advantage in the new product patent regime, says the new report titled 'Progressions 2005' released by Ernst & Young (E&Y).
According to Utkarsh Palnitkar, Health Sciences Industry Practice Leader, E&Y India, ''Any discussion on the global pharmaceutical supply chain can now no longer ignore India's relevance.
India is now becoming an integral part of the pharma value chain, as large global pharma companies continue to increase their sourcing of active pharmaceutical ingredients (APIs), off shoring of clinical development and partnering with domestic companies for new product development and marketing in India.
Over the long term, India is bound to have a larger impact on global pharma's Tax, Regulatory and IT environment beyond the obvious impact on its innovation and manufacturing.''
The report also observes that global pharma companies are taking unprecedented actions to regain public trust by engaging in an open dialogue around drug safety and drug promotional objectives while renewing their focus on demonstrating values through medicines.