The Indian pharmaceutical market till 1970's was very small.. Today, India has gained unprecedented importance and carved a niche for itself in the pharmaceutical domain. In fact, India has emerged as a big market for the pharmaceutical industry. In today's world, Indian pharmaceutical industry ranks 4th in terms of volume and 13th in terms of value. For example it might be anything like formulations, bulk drugs, generics, Novel Drug Delivery Systems, New Chemical Entities, or Biotechnology, etc. Indian companies are dominating in the marketplace which was traditionally manned by MNC's. Our export of for pharmaceutical formulations was negligible till 1970 but now Indian companies due to its quality and affordability rank very high in Europe and America. Not only formulations but we are making unprecedented progress in the manufacturing of vaccines. We used to import all major vaccines some time back but now we are making all major vaccines in house. This has helped the country to save lives & cost. Of late we have developed H1N1 vaccines. This vaccine has helped us to contain swine flu virus. The National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health, funded the scientists and the vaccine was developed. Cooper Pharma like Ranbaxy,Cipla etc too is one of the oldest companies in India.