Major drug discovery outsourcing deals have almost dried up in the past 18 months for almost all prominent players in the area
Ranbaxy, Dr Reddy's and other Indian drug makers may cut production as overseas buyers, hurt by the credit crunch, defer export orders. The move could also lower the country's drug exports by at least 10 per cent in the year ending March 2010, industry experts say."Many of our members have been intimated by their importers to stop shipments until further notice," said Venkat Jasti, chairman, Pharmaceutical Exports Promotion Council.
Suven Life Sciences Ltd has signed an agreement with US-based pharmaceutical firm Eli Lilly and Company to carryout pre-clinical research for central nervous system disorder.