More Indian pharma cos to open innovative research in foreign countries: Report
New Delhi: More Indian companies are looking to establish new dedicated research and development (R&D) firms in foreign countries, particularly in the United States and Europe, according to a report released on Tuesday.
The study, conducted by GlobalData, a leading data and analytics company, highlights a growing trend among Indian pharmaceutical firms to prioritize innovative R&D. This move underscores their commitment to staying competitive in global markets by advancing cutting-edge research.
Traditionally, leading Indian drugmakers like Sun Pharma and Dr. Reddy’s used to execute their innovative research and development in India through a dedicated research company in foreign countries.
“By demerging research and development units and creating new research and development companies, parent firms de-risk their main business from the risks associated with the failure of research projects without impacting the profit and loss of the main business,” said Prashant Khadayate, Pharma Analyst at GlobalData.
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