An Overview On Pharmaceutical Practices And Pharma Companies In India
Pharmaceutical practices in India started with the entry of pharmaceutical industry with the Bengal Chemical and Pharmaceutical Company in the year 1901. Since then the industry started picking up the pace to become the one of the leading India’s science-based industries. Pharmaceutical practices in India offer wide ranging abilities in the intricate field of drug manufacturing technology. Today, the Indian pharmaceutical industry is considered as one of the largest and also the most advanced industry among all the developing countries.
The growth of pharmaceutical practices in India can be dubbed as a phenomenal one. Today, the country can boast that the industry is very much capable of meeting the demands for almost every drug.
Medicines have an enormous contribution towards the health of any nation. The discovery, advancement and effective use of the medication have improved the quality of life of many people, it has slashed down the need for minor surgical interventions and also the time spent in hospital. In a simple way, drugs have been a life saver for many for ages.
Over the years, the simple term pharmacy has taken a form of developed pharmaceuticals sciences, and this has been possible because of extensive research and development processes. Pharmaceutical practices are related to the product being developed and also the services offered.
Pharmacy usually involves all stages associated with drugs, i.e. the discovery phase, development of the drug, its action and reaction, proper safety, formulation of the drug, usage, quality control, packaging of the developed drug, its storage, marketing etc.
The pharmaceutical practices in India are highly successful, and the industry is based on the sophisticated start of the art technology that has experienced consistent growth in the past few decades.
Pharmaceutical practices in India have a significant role in promoting and enhancing public health. The traces of origin of Indian Pharmaceutical Industry can be entailed by the establishment of Bengal Chemicals and Pharmaceutical works. This company exists as one of the five government drug manufacturers in Calcutta today.
Pharmaceutical company in India is so advanced that most of the drugs produced in India were once imported by multinationals companies either in bulk or fully formulated form.
The Indian government started encouraging pharmaceutical practices in the country in early 1960s, and it enabled the pharmaceutical industry to reach the level today with the Patent Act in the year 1970. Indian companies carved a niche for themselves in both Indian as well as in global markets with their high expertise.
Pharmaceutical industry can be segmented as
- Bulk drugs which increased with a pace of 20 percent per year.
- Formulations saw an increase of around 15 per cent annually.
However, with the significant growth of pharmaceutical practices in India, there is also an increase in the malpractices in the pharmaceutical industry in India.
As we say, pharmaceutical malpractices, we mean to say that a drug company has caused severe injury or even death to a certain consumer by failing to incorporate the prescribed standard of care while formulating it. Drug manufacturers often get greedy for money that they star neglecting the quality and exploit the consumers.
