Pharma MNCs seek tie-ups with Indian firms

Global pharma and biotech companies, especially from US, Europe and Japan, are keen to sign agreements with Indian companies, say experts.

Talks of signing partnership agreements with Indian firms in the field of research and development were at the centre of discussions during the Opportunities in Life Sciences Molecules: Global Partnership Summit 2006, held at Varca in Goa.

"Last year, seven to eight such partnerships emerged after the summit in Goa. This time, we expect more", Aroop Zutshi, president of Frost & Sullivan, said at the two-day summit.

"Major pharma and biotech companies in the US, Europe and Japan download $500 million worth of R&D undertaken in the life science industry to India...the trend is growing at 20 to 25% and it will touch the
$1 billion mark in five years", Zutshi said.

Foreign companies are eyeing India because of its cost efficiency in R&D. The industry, however faces the challenge of bridging gaps between demand and supply. "There is a shortage of skilled manpower by almost 50%," Zutshi added.

The life science industry in India is pegged at $ 2-2.5 billion, which is very small as compared to the global size of $75 billion, experts said.