Biotech Outsourcing - The Next Big Wave

The Indian industry is planning an outsourcing encore. This time, it is slated to happen in the biotech sector. Currently valued at $120 million, biotech outsourcing in India is quickly turning out into a major money spinner for companies involved in contract and clinical research activities. Out of this, $50 million is raised from contract research and the rest from clinical research. Added to that a new concept - research process outsourcing (RPO) - is finding its feet as well. Five years back, outsourcing was a word alien for the industry but things have changed. Biotech outsourcing from India is growing at a rate of 75% and experts are predicting that the business would touch $1 billion in the next five years. Globally $40 billion is the R&D outsourcing spend in the pharmaceutical industry on annual basis. In comparison, India's contribution at this stage would seem minimal, but taking into consideration India's scientific talent pool, it may not be that tough for it to break into the $1 billion club.

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