First known drug store was opened by the Arabian pharmacist in Baghdad in 754
By 19 th century drug stores in Europe and America converted into pharmaceutical companies.
Key discoveries of 1920s-1930s were insulin and penicillin.
Legislation was enacted to test and approve drugs and to require appropriate labeling of prescription and non-prescription drugs became legally distinguish from one another as the pharmaceutical industry matured.
India has also appeared as a preferred location for the pharmaceutical industry because of its towering growth scenario furnished by elderly population ,alteration in disease profile developing patent system and socio-economic circumstances.
The competition in the Indian market is cutthroat among the top 10 Pharma companies.
India began to abide by the world trade organization's trade related aspects of intellectual property rights after the revision of the Indian patent act in January 2005.