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Co. hired CEOs who were living in the U.S. "We thought we could use the Indian advantage to debottleneck the drug discovery process," says Parent's executive vice chairman and chief executive officer. Other entrepreneurs are going further. Partly by training young Indian organic chemists and partly by luring back to India successful scientists now based abroad, parent Co. hope to build up companies providing a wide range of drug discovery services. Sources of revenues for Indian contract research companies vary according to the way the firms interact with their foreign customers. Parent Co. says it makes little sense for Indian research firms to be paid simply for time and effort. At Co. we are bringing intellectual content to the process, and it is not time alone that we are bringing," he points out. "It is not like software programmers; we are creating an environment where we have chemists, biologists, pharmacologists, and bioinformaticians working together to innovate." However, he believes that some Indian contract research companies are billing their customers only for time and effort and are not sharing in the upside of the intellectual property discovered. But he concedes, at the same time, that, initially, Co. may simply bill customers for the time spent on various projects. Parent Co. considers Co. contract research companies because their mission is to perform drug discovery work--something that only a handful of companies do in India.
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