Investments for clinical research projects in India by global drug companies on an annual basis has crossed Rs 500 crore (approximately $120 million) in 2005-06.
The domestic clinical research market, which was estimated at about $100 million in September 2005 by Proximare Inc, a leading management consulting firm that specializes in pharmaceutical and related industries, witnessed a sudden spurt in investment during the later part of the year.
The increased investment flow in the clinical research market signifies the growing interest of global research companies to conduct drug studies in the country for data generation as well as registration.
The foreign direct investment for clinical research in India during 2005-06, according to data compiled by the industry, has shown about 84 per cent growth compared with $65 million reported during 2004-05.
The top spenders in the Indian clinical research space during the year include global drug research giants like Pfizer, Eli Lilly, Merck, Novartis, Aventis, Bayer, Atlanta, Astra Zeneca and GSK.
The global companies have been spending around $5 to 7 million every year over the last few years on a number of studies, which includes both India specific and global trials.
India, as a country already identified with a wider genetic pool and also a growing pharmaceutical market, these companies have also classified their studies on the basis of data generation for either global trials or for Indian registration.
Pfizer, which is ranked at the top in the number of studies, has about 23 studies initiated in India. The company, which has established an inhouse clinical research team in India, has been doing the clinical studies through this inhouse team as well as outsourcing arrangement with leading clinical research organisations.
The Indianapolis-based biopharmaceutical major Eli Lilly has about 15 to 20 studies being conducted in India. GSK Plc with almost 140 new products at an advanced stage of clinical development globally, has identified India as an ideal location to be tapped into its global scientific research.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
