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| Indian Pharma Companies R& D plans face high hurdles | 30.06.2008 |
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Leading private equity (PE) firms are reluctant to enter the pharmaceutical R&D business in India. Last year leading PE players had taken stakes in Indian biotech and R&D outsourcing companies. It was therefore expected that they would also take stakes in the high-end research arms of pharma companies. With this expectation large pharma companies in India like Dr Reddy, Ranbaxy, Wochkart etc had spun off drug research into separate entities. But now there is hardly any interest in high-end research arms. Market buzz seems to indicate that ICICI Venture & Citigroup which invested in Dr Reddy s R&D arm ie. Perlecan Pharma are offloading shares due to slow pace of drug development and high capital involved. Financial Express, May 7,2008
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