Exciting times ahead
THE pharmaceutical industry can look to exciting times as huge global opportunities are set to come its way, especially with the new Patents Act in place, according to Dr William A. Haseltine, one of the leading experts in genomics.
He said the new Patents Act had changed the global perception of India, which is now the preferred destination for pharmaceutical business. While the industry is set to undergo a major transformation with focus on discovery research, it could expect to gain a revenue of at least $10 billion in the years to come.
Contract research, contract manufacturing and clinical trials are the areas in which the country can emerge as a major player in the global market, said Dr Haseltine, who was recently made Chairman of the Scientific Advisory Board of Matrix Labs.