Jobs to be provided by Clinical Research companies
India is growing as a hub for global clinical research. There are over 100 domestic and multinational companies here in India, that are conducting trials, an apex industry body ASSOCHAM said today.
Clinical research industry is an Rs 8,000 crore industry, which is expected to employ 50,000 professionals in the next five years.
Clinical trials have an important part to play in discovery of new product and its development without which products cannot be brought to the market.
There is an availability of large patient population in India along with educated talent and wide range of diseases, There are strong patent laws as well and lower cost of operations.
The pharmaceutical industry is based on innovation and clinical trials are meant to introduce new drugs. They are to be conducted as per International Conference on Harmonisation (ICH) Good Clinical Practice (GCP) norms.
The global outsourcing market of clinical research is estimated at 45 billion dollars. It consists of services provided to pharmaceutical and biotechnology companies in clinical development process for innovative molecules as well as generics.
The clinical research companies are likely to conduct more than 15% of all the global trials in India in the current year. Among such companies in India are Pfizer, Glaxo SmithKline, Aventis, Novartis, Novo Nordisk, Astra Zenica, Eli Lilly, Dr Reddys, Nicholas Piramal, Cipla and Lupin.
Tax concession is also offered according to the WTO guidelines to these companies. There is installation of electronic medical records by hospitals which has proved as a major attraction for international clinical research organisations and multinational companies for human studies to India.
The trials are being done in areas like oncology, endocrinology, traumatology, sports medicine, pulmonary diseases, pediatric diseases and infectious diseases.
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