A drug under development for a particular disease must undergo extensive studies in animals and humans to establish its safety and efficacy at a particular dose, prior to being marketed. Pharmaceutical companies allot a certain percentage of their revenue to be re-invested in drug development. Clinical trials represent a bridge from early stage drug development to commercialization. This bridge cannot be bypassed and is long and expensive to cross.
It takes approximately US$350 - $500 million to bring a drug from the lab to the market. This usually occurs over a widely varying time-span - 9 years on average.
It is because of this High Cost, Clinical Trials are a boom in INDIA. WIth cheap labour, high efficiency, Well-trained medical community to global standards and Large and fast growing private healthcare sector, india no longer could be left behind in this multi billion industry.
Estimates show that this industry in India would be worth more than $2 Billion by 2015.
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