TN Governor on challenges confronting drug manufacturers
Access to bio-technology, high cost of drug development, threat to intellectual property, pricing pressure and product liabilities are some challenges, drug manufacturers may have to face in the years to come, Tamil Nadu Governor S S Barnala said ...
By PTI |
CHENNAI: Access to bio-technology, high cost of drug development, threat to intellectual property, pricing pressure and product liabilities are some challenges, drug manufacturers may have to face in the years to come, Tamil Nadu Governor S S Barnala said on Monday.
Speaking at the inauguration of the new non-betalactum facility of Bafna Pharmaceuticals Ltd here, he said world class manufacturing facilities, increased spending on research and development, good manufacturing practices conforming to WHO norms and consistency in product quality, were the need of the hour.
The challenges facing the pharmaceutical industry could be combated through a syndicated research, industry-institute co-operation and a cluster approach, he said.
Bafna Mahaveer Chand, Chairman and Managing Director of Bafna Pharmaceuticals, said the new non-betalactum facility was expected to increase the company's turnover to Rs.250 crore over the next five years.
Another betalactum facility of the company will be in place by June 2007, he said.
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