Mumbai: Indian pharma firms need to focus on research and development to survive in the global market in the product patent era but they are finding it difficult to hire skilled people, an official said on Friday.
"With the dawn of the product patent era in India, focus now shifts to R&D for the pharmaceutical companies to survive in the global market. We can no longer rely on generic drugs and innovation is the need of the hour in the pharma industry.
"(But) India falls short of qualified individuals suited to perform these functions," Indian Institute of Health Management Research (IIHMR) Director S D Gupta said at a function here.
He also said that the Indian pharmaceutical industry would be the third largest in the world by 2015 with production of USD 20 billion.
Talking about high attrition rate in the pharmaceutical industry, estimated at 20 per cent, Gupta said it can be reduced by providing a positive atmosphere to employees in terms of supportive culture, training programmes, a policy in place for conflict management and adequate rewards and recognition programme.