THE INDIAN PHARMACEUTICAL INDUSTRY; EVOLUTION OF REGULATORY SYSTEM AND PRESENT SCENARIO

Indian pharmaceutical industry evolved in true sense only after independence. Government provided the impetus to growth with the establishment of few public sector units. Healthcare facilities in India are still below standard as compared to most developed nations. Indian government is stringent on price control of Pharmaceuticals and this becomes a major hurdle for global players to enter in India but Indian patent act and new drug policy has bought a new dimension to Indian Pharmaceutical Industry. Some of the Indo-global industries like Cipla, Ranbaxy and Dr .Reddy’s are showing rapid and consistent growth with their impact worldwide. India is also turning out to be a prime destination for clinical trials. Industry today is governed by wide range of regulations and different regulatory bodies. Current article focuses on all these aspects along with regulations for new drugs, medical devices, imports etc.