|
|
Article: India poised to revolutionise biotech industry.(Biotechnology)
- Article from:
- Chemistry and Industry
- Article date:
- April 23, 2007
- Author:
CopyrightCOPYRIGHT 2007 Society of Chemical Industry. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
While the Indian biotech industry is burgeoning, more incentives are needed if the industry is to take advantage of domestic health and international markets.
Long a generics stronghold, changes to India's patent laws are encouraging innovative drug development, and the country's biotech industry is transforming. According to the Association of Biotechnology Led Enterprises, Indian biotechnology revenues increased 37.42% to $1.45bn from 2005-2006.
India has low operational costs, a strong science base, cost effective technologies, a booming national economy and a growing demand for biotech products, according to consultancy Ernst & Young (E&Y). ...