India has always been renown as a destination for the best in medicine at a competitive price when compared to other places. Not so anymore, as more and more foreign firms like Itero, enter into partnership with Indian companies with an eye on contracts and future profits. The Indian doctors are one of the best the world over and their reputation is well deserved. It is not just the doctors but the medical research firms that are equally excellent, it is no wonder that many foreign firms, especially in the field of biotechnology are making a beeline to this country.
Itero is currently located in California and has just entered into a partnership with the Indian firm Biological E. Their partnership is more or less based on providing the equitable financial assistance to joint research projects and to commercialize it in India as well as the world over. Naturally under this agreement, Itero retains the right to market such products in the United States, Japan and Europe while Biological E retains the right to do the same in the other countries, read Australiasia.В Itero will provide the required funding for the development cycle where as Biological E will do so for the manufacturing part.
According to Dr. Bryan Lawli, the chief executive officer of Itero, they had settled upon Biological E after a very exhaustive search. It was their expertise in biologics manufacturing and commercialization that settled the deal for them. Taking into account the operational experience that Biological E has both in India as well as the United States, Bryan Lawlis feels that the company as a whole would stand to benefit from such a partnership and that one can hope for great things to happen, here and overseas as a result of this.
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Tags: doctors, india, itero, marketing, medical research, Medicine, united states
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