European commission.....

YEAR-2007-June 1: European commission came up with new European Community Regulation on chemicals and their safe use (EC 1907/2006) called REACH which stands for Registration, Evaluation, Authorisation and Restriction of Chemical substances. According to these regulation Manufacturers and importers for chemicals are required to collect information on the properties of their chemical substances, for safe handling, and thus companies register their chemical safety information in a central database run by the European Chemicals Agency (ECHA) in Helsinki..................

YEAR-2009-Sep 15: European commission collaborates with European Federation of Pharmaceutical Industries and Associations for promotion of new drug development. The funding is part of Innovative Medicines Initiative (IMI) which was formed in year 2007; the total IMI budget for the period 2008-2017 is around €2 billion. The first proposal for IMI was drafted on April 2008. Out of 134 proposals which were submitted to IMI last year, 15 papers were selected to receive a total of €246 million. Hope to have Commissions like this in India soon !