economy - Pharma companies prefer China over India

China is the preferred place to produce medicine for low costs, according to a new report by the consultancy firm Bain & Company, reports the Business Standard from India. Almost 90 percent of the executives of pharmaceutical firms prefer China over India. Only 17 percent of the 179 respondents mention India's technological innovation as one of its assets.

"The Indian pharmaceutical industry now stands at the crossroads...If India is looking to be the home for quality generic drugs, it needs to step up its innovation game," Ashish Singh, MD of Bain & Company India and leader of the consulting firm's Indian Pharma Survey, said.

I saw similar troublesome news from India concerning clinical tests, where illegal practises at Indian hospitals not only jeopardized the lives and health of the patients involved, but also raised the question on how valid those tests actually were.