India sets up board to develop new drugsMarch 5th, 2008 - 8:33 pm ICT by admin
New Delhi, March 5 (IANS) In its quest to develop new drugs, India has set up a Drug Development Promotion Board (DDPB), Minister of State for Health and Family Welfare Panabaka Lakshmi said Wednesday. Lakshmi said the pharmaceutical research and development committee studied the measures needed to strengthen research and development (R&D) base of the Indian pharmaceutical industry.
“As recommended by the committee, a pharmaceutical research and development and support fund (PRDSF) has been set up under the administrative control of the department of science and technology for development of new drugs,” she informed the Lok Sabha.
“A Drug Development Promotion Board (DDPB) to administer the utilization of PRDSF has also been set up,” she added.
The minister said the effort aims at supporting “collaborative R&D projects, making available good quality medicines at reasonable prices” and enable domestic companies to compete internationally.
Finally, the purpose of setting up the new board, Lakshmi said, was to “develop India as the preferred global destination for pharmaceutical research and development and manufacturing activities”.