There is less interest from venture capital and private equity firms in investing in the pharmaceutical sector due to the risk involved in discovery of drugs. Technological competitiveness is vital for the boom in the healthcare and pharmaceutical space.Transparent and time-bound processes are critical for clinical trial approvals. Economic prosperity will perk up affordability for generic drugs in the market and improve per capita sales of pharmaceuticals in India. 'Pharma Vision 2020', which aims to make India a major hub for end-to- end drug discovery, is a great initiative by the Government of India. Under this initiative, there are plans to set up a $640-million venture capital fund to enhance drug discovery and support pharmaceutical infrastructure.

Source: Economic Times January 22, 2018 08:26 UTC