Active Stocks
Thu Mar 28 2024 14:09:24
  1. Tata Steel share price
  2. 155.95 2.03%
  1. HDFC Bank share price
  2. 1,456.40 1.09%
  1. ITC share price
  2. 431.00 0.70%
  1. Power Grid Corporation Of India share price
  2. 277.70 2.45%
  1. State Bank Of India share price
  2. 756.35 3.04%
Business News/ Politics / Policy/  India’s clinical research industry comes to a standstill
BackBack

India’s clinical research industry comes to a standstill

With just five global clinical trials approved this year, India's once booming clinical research industry has stagnated in 2013

A file photo of victims of unethical clinical trials protesting in Bhopal. Photo: MintPremium
A file photo of victims of unethical clinical trials protesting in Bhopal. Photo: Mint

With just five global clinical trials approved this year, India’s once booming clinical research industry, pegged at $450 million in 2010–11 by market research firm Frost and Sullivan, has completely stagnated in 2013. The industry was expected to grow at 12% a year and pass the $1 billion mark in 2016.

A Supreme Court ruling on 3 January revoked the Indian drugs regulator’s powers to approve clinical trials, making the health ministry responsible for the approval process. The trials have yet again been put on hold until 16 December after the apex court expressed concern over the approvals given by the health ministry.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 24 Oct 2013, 11:44 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App