At the turn of the 21st century, prophets of biotech boom were dime a dozen, swearing that India was ready for an information technology (IT) redux.
They presaged prosperity, specifically in healthcare-related biotechnology. India, the refrain went, was poised to emerge as a major hub, with advantages such as low-cost of innovation and manufacturing, an established pharma industry, good government support and excellent government-owned R&D institutions.
Venture capitalists soon started to make a beeline for projects. And established pharmaceutical companies such Dr Reddy
