Abstract: The pharmaceutical and biotechnology industries have dramatically changed in the recent decade. New technologies and techniques have led to rapid advancement with research & development including the mapping of the human genome. This recent accomplishment has opened the doors to better understanding of the human body, basis of disease and targets for the drug molecules, which is expected to lead to even greater advancements in the coming decades. In such a time of historic discoveries both the pharmaceutical and biotechnology industries have come under heavy scrutiny. Doctors want a greater arsenal of medications to treat more obscure diseases, governments want tighter oversight by companies of manufacturing processes, and both patients and insurance companies want reductions in prices for drugs or at least the availability of generics to reduce their costs. A new component of scrutiny has also come from shareholders. Advancements in communication technologies have facilitated globalization throughout the industry. This has allowed for both the rapid growth of pharmaceutical companies to sprout in low cost countries where citizens have high levels of education. One such country, who has been at the heart of this movement, is India. The active ingredients of pharmaceutical products are typically small chemical molecules. These molecules have now been started to be taken from biotechnology. Diagnostic technologies have allowed the analysis of molecular composition and structure of the target and the drug molecule easily determinable which allows generics manufacturers to more easily enter this business. It is such skills and low cost structures of Indian firms that provide them the opportunity to enter into an industry that is in its infancy, biogenerics.

 
The Biotechnology Industry Biotechnology industry at this point in time is still a fairly a young one and its history is quite oral. Bayer set up Genentech in 1976, which marks the beginning of the first known biotech company. For a biotech business entrepreneurship the five factors, which are very important, are: creativity, ability to spot opportunities, the drive, the determination and the willingness to take risk. The last one probably is the most important factor. Worldwide, biotechnology is being considered as the latest pursuit for expertise in knowledge intensive sectors. In 2001, the global biotech industry was valued at USD 35 billion and is expected to grow at 25% annually. Indian biotechnology industry is currently valued at USD 1.5 billion1. In the future scenario biotech business platforms to be used would include the huge data generated and mined with the use of bio-informatics. This includes proteomics, pharmacogenomics, biochips, combinatorial chemistry, gene transplantation, tissue engineering and so on including the drug discovery.