Bijapur: Owing to sustained efforts in the past few decades, India has emerged as a major centre for production of lifesaving drugs in the world, and it is the second major producer of quality drugs with Rs. 95,000 crore annual turnover, KLE University Vice-Chancellor D.C. Kokate has said.
He was speaking after inaugurating a seminar on “Advances in drug-design and drug-delivery for pulmonary diseases” organised by BLDEA's College of Pharmacy and Indian Council of Medical Research (ICMR) here on Friday.
He said that the U.S. stood first in the production of quality drugs in the world.
As many as 18,500 companies in India produced 95 per cent of the lifesaving drugs. Of them, the annual turnover of 350 companies was more than Rs. 60 crore each. Though the country had made significant progress in the production of drugs, the money spent on research and development was only 2.6 per cent as against the 9 per cent by developed countries, he said. Referring to a survey conducted by the European Union and the World Bank, he said more than 30 per cent of adulterated drugs were produced in India and China. Owing to that most of the drugs produced by major companies in the country were rejected in the world market last year, he added.
Presiding over the function, BLDE Association Chairman M.B. Patil said that more than 60 crore people across the world suffered from pulmonary diseases and three lakh lost their lives annually.
Regional Director of the Indian Council of Medical Research (ICMR) Subarna Rai spoke about the facilities extended by ICMR, and urged students and researchers to make proper use of them.
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