Technology Transfer: A New Buzz Word in Pharmaceutical Industry

Abstract

With fast globalization of competition, the pharmaceutical industries with a trust for achieving enhanced operating performance and commercialization of products opt for transferring their owned technology to another unit which possess all the necessary requirements. There is a sturdy increase in the demand of medical services due to ever increasing population and diseases, so the global pharmaceutical industry needs to maintain the pace with the demand. The pharmaceutical industry is under regulatory and patent protection; its ethical and religious issues are the focus of attention. Hence, the main focus is how the idea or process is further carried from a research program towards commercialization. The success depends on the effectiveness of the communication preceding its implementation. This review gives a brief knowledge about the knowhow of technology transfer, its barriers, various agreements and the process for it.