Intellectual property is an important aspect for country's technological, economical and social development. It is observed that normally technologies are created in developed countries and benefits of these technologies are not spilled over to people in the developing countries. It is essential to make these technologies easily and economically available to people in developing countries. Technology transfer is thus an important aspect in making these technologies available to developing

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... ies. By transferring technologies, firms can recoup a substantial portion of investment. Government, industry and academia can join hands in developing and distributing technologies to all the stakeholders. Licensing (in-licensing and out-licensing) is one such phenomenon of technology transfer that has gained momentum in pharmaceutical industry whereby pharma companies can contribute to research and development. This article identifies some aspects of technology transfer that is shaping pharmaceutical industry and its research and development activities to meet the newer challenges and some relevant examples of technology transfer in pharmaceutical industry.