Outsource Pharmaceutical Research to India

The Tufts Center for the Study of Drug Development estimated that the cost of getting a new drug into the market in the late 1990s’ was a whooping $897 million. A decade later the prices could only have gone higher. Yet it will be surprising to note that of all the drugs researched and developed a mere 21% get approved as safe for human consumption.

The time, costs and logistical requirements that go into pharmaceutical research make it the forte of only a few pharmaceutical companies.

Pharmaceutical research can de classified into two main sections:

1. Drug Development

Pharmaceutical research and development is the core of any drug development process. It involves:

• Identifying chemicals and testing their therapeutic, pharmacological and toxic properties
• Testing the drug for therapeutic benefits and side effects
• Launching the drug in the market

2. Market Analysis

Involves studying market trends to position the drug effectively. The process is broadly classified into:

• Affinity Analysis, which helps position and sell the product in the market
• Market Basket Analysis, which studies the purchasing behaviour of consumers
• Market Share Analysis which involves doing a comparative study of the product vis-à-vis competition and market trends
• Prescription Analysis, analyzes prescriptions across geographies to determine how similar products are performing
• Brand Related Research, analyzes the strengths, weaknesses and brand propositions of the product
• Study of Medical Practitioners such as doctors to understand why they prefer a specific drug for a particular ailment
  

Scope of Pharmaceutical Research in India

India is a booming destination for pharmaceutical research outsourcing. Its main advantage is a qualified work force and lower operational costs. Hence it ranks high on quality and competitive pricing. Choose India for pharmaceutical research.