Low costs. Skilled workers. New patent protections. A ready pool of patients for clinical trials. These are the ingredients contributing to India's blossoming biotechnology industry, which grew by nearly 40% last year and is now second only to the United States in its number of FDA-approved drug manufacturing plants. India boasts more than $700 million in annual revenues from its biotechnology industry.
While revenues from the United States' biotechnology industry were far more, $39.2 billion in 2003, the industry's fast-paced growth in India represents "a major, long-term threat to companies in other parts of the world," says Roy Drucker, general manager of London's Technomark Consulting Services, a consultant to the biotechnology and pharmaceutical industries.
"Indian companies are on a steep learning curve," Drucker says. "Why wouldn't you go there when you can do it as well, for less money?" India, already a significant global player in the software and information ...
