Indian pharmas seek to protect their edge

Arguing that India will become a "contract manufacturing center" and "lose its edge," industry groups are seeking restrictions on foreign mergers and acquisitions. A panel of government officials recommended a foreign direct investment cap of 49% for brownfield projects while providing no cap for greenfield investments. But planning commission deputy chairman Montek Singh Ahluwalia said on Monday that he sees "no case for rollback" of FDI in the pharma sector. Story