Indian pharmaceutical industry has grown from a low capital intensive formulation activity to a highly sophisticated industrial segment of the economy producing world class medicines in a short span of 30 years. Today, not only India produces almost all the formulations and bulk drugs required in the country but also exports 25 percent of its annual production of Rs,20,000 crores. No developing countries, barring China, could achieve this feat in such a short time. The government policies and the entrepreneurship of Indian technocrats are two key factors that made this happen. But such a growth would not have taken place in this industry without accessing vital technology information from various corners of the developed world. The pharmaceutical sector is a knowledge based industry and its whole foundation rests on the costly and hard to get information and data. It is true that Indian entrepreneurs have been successful in sourcing such information through various means so far. The international companies and governments of the developed world have, however, realised the need for guarding the secrecy of such information. The pressure through World Trade Organisation to introduce product patents worldwide is just one such signal to this industry that sourcing information without paying for it is not going to be that easy anymore. There is going to be restrictions in procuring information in all other departments of the pharmacueical industry in the times to come.
Like sourcing valuable international information, information relating to government policies, regulatory affairs, prices of bulk drugs and intermediates in the world markets is all crucial for the efficient running of drug companies. Multinationals and large Indian companies have their own networking to collect such information. But vast number of medium and small scale drug companies do not have such means and have to depend on other sources. One such source is the print media specialising on pharmaceutical industry. Indian pharmaceutical industry does have a dedicated weekly publlication today. But information needs of the pharmaceutical industry are expanding with growing international competition and have to be tackled on a day to day basis through a cost effective medium. The decision to launch a dedicated portal for Indian pharmaceutical industry is with this objective in mind. We will be closely tracking all developments and policy changes taking place in the pharmaceutical industry and its allied sectors in India and abroad with a strong team of correspondents. Apart from providing news reports, analyses and studies, Pharmabiz will also be a reference point for all the laws and regulations, notifications and directory information relating to pharma companies, associations and other bodies. For accomplishing this mission we did get support of the Indian pharma industry and various government departments. We seek and hope to get this cooperation from all of you in the times to come.