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Rediff News  All News  » Business » 4 life science firms tie up to project R&D might

4 life science firms tie up to project R&D might

April 14, 2004 09:07 IST

Four life science majors -- Suven Life Sciences, Shasun Chemicals and Drugs, Innovasynth Technology and the US-based Austin Chemicals -- have joined hands to form a common platform to create awareness among multinational pharmaceutical firms about the research and manufacturing capabilities of Indian drug companies.

Christened LifeSciences Alliance, the alliance is organising a three-day symposium at Goa in the last week of April.

The objective is to provide a common ground for Indian companies and multinational firms to share perspective on pharmaceutical research, development and manufacturing processes.

Pfizer and Lilly and other industry experts from the US, Europe and China have evinced interest in participating in the symposium to discuss various aspects of intellectual property rights, emerging trends in drug discovery, outsourcing and manufacturing regulatory environment, clinical research and investment trends in the Indian pharmaceutical industry.

India, being a signatory to the TRIPS agreement, will start recognising product patents from 2005.

The country is emerging as an outsourcing hub for pharmaceutical manufacturing and research and development, Venkat Jasti, managing director Suven Life Sciences said.

"The idea is to pave the way for collaborative research and propagate alliances with multinational drug makers.

This will not only enable us to learn but also prepare us to grab a share of the multi-billion dollar global outsourcing market," Jasti added.

BS Corporate Bureau in Mumbai