PHARMACOVIGILANCE: NEED FOR INDIAN PHARMA INDUSTRY

Abstract

Pharmacovigilance is the science and activities related to the collection, detection and assessment of the adverse event data. The major aim of pharmacovigilance is the evaluation of the benefit-risk profile of the drug for better efficacy and safety for use in patients. Pharmacovigilance has been known to play a key role in the rationale use of drugs by providing information about the adverse drug reactions occurring in patients. Indian Pharma industry is the third largest in the world in terms of the volume and thirteen largest in terms of value. India has also been a hub for clinical research and drug development. With new drug entities, chemical moieties, dosage forms and drugs being discovered and manufactured on a large scale; Indian Pharma industry require a global and standardize pharmacovigilance system for better safety assessment. This review article explains the need of pharmacovigilance in Pharma industry, basic steps related to pharmacovigilance and the current status of the pharmacovigilance in the country.