India should try to capitalize on the current economic euphoria and become a global manufacturing platform, said Dr RA Mashelkar.

There are huge expectations from Indian pharmaceutical companies post-2005. And scientists in various fields are achieving success and recognition, said Dr Mashelkar, addressing a gathering of over two hundred scientists and other experts in the pharma industry at 'Pharmacophore-2004', an international symposium organised by Dr Reddy's Research Foundation and sponsored by Dr Reddy's Laboratories at Hyderabad.

The symoposium with the theme 'Innovative Drugs: Emerging Perspectives' was held at Hyderabad to commemorate its 10 years of journey in drug discovery research.

Discovery research is also growing in India, and it should happen on a continuous basis. Indian pharma companies should strive for speedy growth and minimizing costs without sacrificing quality. We should try developing new chemical entities, said Dr Mashelkar.

The Indian pharma industry has to face various challenges, and key among them are- change of Patent Act, need for restructuring the industry, establishing efficient regulatory framework, need for research and innovation, and bridging the gap between traditional medicine, modern medicine and modern science.

One needs to be aware of the changing scenario with regard to patents to make one suit the needs and demands of the situation. Pharmaceutical companies should be rational towards complying GMP standards and this can be possible only when they realize the importance of GMP to their progress, he opined.

On the regulatory front, it has been recommended that penalties be made severe, swift and sure in addition to making pharma manufacturers supply only quality drugs in the market. With the worldclass regulatory system in place, the image of the Indian pharma industry will surely rise to new heights. It is required to be made better than what it is today.

The figures (that one out of three Indian drugs are spurious) quoted by WHO and other oganisations on the incidence of spurious drugs are false, and are not authentic. Thus, there is a great need to conduct statistical studies and investigations to find the real situation. And the industry should try to make the markets free of spurious drugs.

Indian science has contributed a lot to the world. Indian scientists serving in other countries should think of coming back and utilise the growing opportunities in the country, and this has already started happening in the last few years

Modern medicine has benefited by modern science, but it is not the same with traditional medicine. It is very much essential to bridge the gap between the three elements-traditional medicine, modern medicine, and modern science. Besides leveraging resources, India should build intellectual capital and work on preparing and offering drugs for various diseases for the poor. Post 2005, innovation would be the key factor, corporates should look on, he averred.