Khusrokhan told reporters that the "generic generic" trade is characterised by huge discounts to retailers (while the maximum retail price is more-or-less the same) and could turn this market into a mere commodity one.

He said the local healthcare environment in 2005 (when product patents come into force) is unlikely to be dramatically different. There could be a slight easing of price control but very few Indian companies will venture into research and development and globalise. Khushrokhan also added that there are already 3000-4000 applications in the mail box, though India has just 26 trained patent examiners (China has900). Earlier, Interlink Marketing Consultancy managing director RB Smarta said that there are five critical issues in bringing about innovation in marketing in the pharma industry. These, he said, includes realising that innovation is not restricted to technical disciplines and accepting that innovation can be both big and small. Smarta also elaborated on the various micro-level activities that can bring about innovation in marketing using the Chinese Tangram model.

Boston Consulting Group Pte (India branch) director Kamesh Venugopal said there could be several business development opportunities based on global and domestic trends in the pharma industry. These include opportunities to provide GMP-compliant low cost manufacturing or centres of excellence in drug development, besides an entry into the health insurance segment.

FIs make presentations to drug panel

IDBI and ICICI are believed to have made presentations to the newly formed drugs-prices-review committee set up to suggest measures"reduce the rigours" of price control. Industry sources say the institutions essentially drove home the point that deregulation will spur growth and hence the removal of the shackles of price control was necessary. The move, industry experts say, is also indicative of the potential of the Indian pharmaceutical industry as an attractive investment opportunity when compared with other sectors like textiles and steel.