Summary
The Report says it all !!!
Cost of RnD , Clinical trials and related activities required for drug development have escalated beyond justifiable levels in developed nations.
In order to continuously innovate & keep the drug pipeline humming, a shift in process was required and India was the answer!!!
With its inherent cost advantage & pool of highly skilled & qualified people it's a safe bet.
Analysis
World is looking cost effective healthcare.
Till the drug development costs are not bough down the end user prices cannot be bought down.
today drug development cost in Developed nations stands at USD 1.5 - 2 billion.
Even after that there is no garantee that the product will break even.
Answer lies in cost effective centers like India and this belief has already resulted in an increase of Indian CRAM, CMO, CRO business by over 100 % in the last few years.
This author consults with leading institutions through GLG
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
