'Establish India as pharma leader'

The advent of product patent regime in India from Jan 1, 2005 will have a significant impact on Indian pharmaceutical companies, says Ranbaxy's Malvinder Singh.

The advent of the product patent regime in India from January 1, 2005 will have a significant impact on Indian pharmaceutical companies. There is a need for innovative research and development (R&D) especially for discovering and developing new medicines.

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The considerable skills of Indian scientists combined with a low cost base makes India an ideal place for research and drug development. To fully leverage this potential, R&D activity in the pharmaceutical industry needs high levels of sustained investments. The government should support R&D efforts by enhancing fiscal incentives.

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