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The pharmaceutical industry, with its rich scientific talent and research capabilities, supported by Intellectual Property Protection regime, is well set to take a great leap forward. As a growing pharma R&D hub, it has become tough competition for Europe. A recent Ernst and Young study has identified the country as an emerging centre for collaborative and outsourced R&D in drug development, biotechnology and chemicals.

In the last several decades, Indian pharma companies have moved from "reverse engineering" drugs to making drugs with greater value addition.

The focus under the R&D effort is to encourage development of new molecules. A provision of Rs. 150 crore has been made under the Pharmaceutical Research & Development Support Fund.

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