Updated on 8 July 2013
Indian drug makers are soon shifting their research and development operations and clinical trials to South East Asian countries according to a survey released by ASSOCHAM
Singapore: Many leading Indian drug makers, that comprise a core part of the country's $1,000 bn worth pharmaceutical industry, are soon shifting their research and development operations and clinical trials to South East Asian countries, concluded a survey by ASSOCHAM.
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) concluded the survey stating that red tapism has been pushing the country's pharma industry in peril as most operations get shifted to countries like Cambodia, Korea, Philippines, Singapore, Thailand, Vietnam and other South East Asian countries.
These countries share similar patient population, disease profile and also have a conducive environment for operations like easy market approach without any regulatory uncertainity, the survey highlighted.
"Various South East Asian countries are wooing India's R&D industry by offering sops and transparent regulations as regulatory bottlenecks and a plethora of committees have slowed permissions/approvals for trials or marketing drugs to more than 12-15 months back home in India while such permissions are given by the USFDA, EU and Singapore within a month's time," the survey by the industry body pointed out.
The survey covered about 250 top officials and representatives from India's pharma industry from five states - Andhra Pradesh, Gujarat, Karnataka, Maharashtra and Tamil Nadu between March-June, 2013 to identify their problem areas and come up with solutions.
"Flight of operations by India's pharma majors will surely hit India's image as a fast-growing, low-cost hub for medical research," said Mr D S Rawat, national secretary general of ASSOCHAM while releasing the findings of the chamber's survey.