The big Pharma and pharmaceutical companies’ deal with the Modi government will see them collectively net around $3.7 billion, according to a report by the Times of India, a national daily.
The report by The Times of Indian stated that the deal includes the following:-A total of $4.3 billion in the first year-A further $4 billion in next three years-A third $1.5 billion in 2019-20-A final $1 billion in 2021-22The total amount of the deal is estimated to be about $5 billion, the report added.
The deal was signed during a two-day visit to the US by Modi, who has recently said he would like to take up drug development with US President Donald Trump.
The deal is a key component of the bilateral drug cooperation pact signed between the US and India last month.
The US-India drug deal, which has been signed during Trump’s visit, was a major priority for the Modi-led government.
In December, Modi and US President Trump also signed an agreement to jointly develop a drug treatment system that could reduce deaths in India.