Pfizer has doubled its clinical research investment in India over a period of six-seven years, Mohan Beltangady, vice president, worldwide head of clinical operations, Pfizer Inc, said.
"We have increased the biostatistical and clinical trial logistics services in India twenty-fold," he added.
Beltangady was one of the key speakers key speaker at the third Indian Pharmaceuticals Association's convention in Mumbai.
"Pfizer's total cumulative investment on clinical research in India is around $13 million.
Currently, the company's investment stand increased to around few million dollars from $0.1 million in 1995," Chandrashekhar N Potkar, director clinical research at Pfizer India said.
Speaking on the opportunities in clinical research and contract research in India Beltangady said that India has only scratched the surface of its potential in global research and development and is poised to emerge as a major clinical research destination.
Currently, according to Beltangady, India attracts less than one per cent of the global clinical trial activities compared with a hefty 82 per cent share of the US.
"In India what is required is a set of seasoned guidelines for protocol approval process(DCGI and ICMR), more efficient and reliable infrastructure for shipping, handling, distributing, and storing study drug and effective solutions to protect the intellectual property," he added.
According to a study on the Indian clinical trial market, the industry spending on the services rendered by Indian clinical research organisations in 2002 was around $35 million and is expected to jump up to over $250 million in the next seven to eight years.
According to Beltangady, Pfizer wants to build on regulatory standardisation, globalisation of studies, communication and information technology, strategic alliances with local regulatory agencies.
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