Chinese health minister Chen Zhu said on Monday that Indian pharmaceutical companies were "more than welcome" to sell their products in China. The Indian companies have been complaining for a long time that China did not grant enough market access.

According to Srikanta Jena, Union Minister of State for Chemicals and Fertilisers, India has the world’s largest and most developed pharmaceutical industry, including being the top exporter of generic medicines in the world, exporting medicines worth Rs. 50,000 crore, annually.

Pune-based Indian medical firm The Serum Institute of India (SII) announced Monday that their swine flu vaccine 'Fluvac' would be available in the market by April-May 2010.

Pharmaceutical companies got a much sought-after wish granted when FM Pranab Mukherjee said in his Budget speech for 2010-11 that companies spending on in-house research and development will be taxed less.