Subcontinent rising: A new report on India's pharmaceuticals industry predicts it will take over about $2.5 billion in drugmakers' outsourcing by 2012. As companies in the EU and U.S. look for lower-cost manufacturing and R&D, India will get an influx of new work, according to the report from Zinnov Management Consulting.
The country has certainly done a lot to encourage that growth. Besides a rich talent pool and a number of pharma-educational institutes, the Indian government has also started offering tax incentives to drugmakers and set up some necessary legal infrastructure, the report says. "India has the potential to become one of the key global pharmaceutical players and also become the backbone of off-shored services in Pharmaceuticals," Zinnov's CEO said.
- read the story at India Infoline