Two decades ago, Indian pharma appeared poised for its next big leap. After making a mark on the global stage with generics pharmacy, local drugmakers now seemed ready to pursue a more grandiose dream: of drug discovery. Dr Reddy’s led the way, followed by the likes of Ranbaxy, Piramal Enterprises, Torrent and Wockhardt, among several others who fancied their chances at discovering and developing a proprietary new chemical entity. India was expected to develop and take to market a drug at a fraction of what it would take Big Pharma (over $1 billion then).
By the end of the oughties, reality set in as a string of candidate compounds bit the dust at various stages of development. Strategies have since been rejigged, ambitions scaled down and large-scale discovery efforts are now restricted to a handful.
(This story appears in the 02 February, 2018 issue of Forbes India. To visit our Archives, click here.)