The the next 60 years, most of the

The Pharmaceutical
Industry develops, manufacture, and markets drugs licensed for use as medicines.
For this they have a well-equipped Research and Development department.
Pharmaceutical companies are allowed to deal in generic and/or brand medicines
and medical devices. They are deal with variety of laws and regulations of the
government regarding the patenting, testing, pricing and ensuring safety and adequacy
and marketing of drugs. The Indian Pharmaceutical industry is the
second-largest in the world by volume and is ahead to manufacturing sector of
India. The first pharmaceutical company of India was Bengal Chemicals and
Pharmaceutical Works, which still exists today as one of 5 government-owned
drug manufacturers, in Calcutta in the year 1930. For the next 60 years, most
of the drugs in India were imported by multinationals either in fully
formulated or bulk form. The government started to encourage the growth of drug
manufacturing by Indian companies in the early 1960s, and due to the Patents
Act in 1970, the industry got an opportunity to grow. This patent act removed
composition patents from food and drugs, and though it kept process patents,
these were shortened to a period of five to seven years. The lack of patent
protection made the Indian market undesirable to the multinational companies
who had dominated the market, and while they streamed out, Indian companies
started to take their places. The multinationals were market leaders at that
time because of their superior technology. As a result of this, they had gained
expertise in reverse-engineering new processes for manufacturing drugs at low
costs. Although some of the larger companies have taken small steps towards
drug innovation, the industry as a whole has been following this business model
until the present. Introduction to Pharma Industry 28 Research and Development
Drug discovery is the process by which the required drugs are discovered or
designed. In the past most drugs have been discovered either by isolating the
active ingredient from traditional remedies or by serendipitous discovery. A
great deal of early-stage drug discovery has traditionally been carried out by
universities and research institutions. All this requires constant innovation
and research by either the traditional or modern methods, or a combination of
both. Drug development refers to activities undertaken after a compound is
identified as a potential drug in order to establish its suitability as a
medicines. Objectives of drug development are to determine appropriate
Formulation and Dosing, as well as to establish safety. Research in these areas
generally includes a combination of in vitro studies, in vivo studies, and
clinical trials. The amount of capital required for late stage development has
made it a historical strength of the larger pharmaceutical companies. Often,
large multinational corporations contribute in a broad range of drug discovery
and development, manufacturing and quality control, marketing, sales, and
distribution. On the other hand, smaller organizations lay emphasis on a
specific aspect such as discovering drug candidates or developing formulations.
Often, collaborative agreements between research organizations and large
pharmaceutical companies are formed to discover any probability of new drug.