Biotech Emerges in India: A Changing Business and Legal Environment Drives the Expansion
India has long had a strong reputation for the quality of its synthetic and medicinal chemists, but it used to lag behind other countries in developing expertise in biology and biopharmaceuticals. Now India sees development of biotechnology as an emerging opportunity to become a significant player in the world, as with its success in high technology. The highly publicized, successful IPO of India’s first and largest independent biotechnology company, Biocon, has fueled a strong interest in the Indian investment community to support this industry. This article discusses the many partnership opportunities for companies in search of new markets who are willing to overlook India’s past reputation for copying patented medicines, a practice that will not continue because India has finally joined the worldwide patent treaty.