Pharma market to touch $20 b by 2015

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The commercial attractiveness of India as a “market” is a key factor influencing India’s attractiveness as a “clinical trial destination,” the report added. India could be a potential $8 billion market for MNCs with patented drugs accounting for nearly 8 to 10 per cent of the total market.

 Explaining reasons for India emerging as a big market for patented drugs, the study said with the advent of the product patent regime in 2005 the patent infrastructure in the country has been appreciably upgraded over the past few years to support new laws with the addition of patent examiners, decentralisation of the filing process and digitisation of records.