New Delhi [India], January 2: Pharmaceutical industry plays a pivotal role in global healthcare, focusing on the development, production, and distribution of medications that improve and save lives. With an ever-evolving landscape driven by scientific advancements, this industry is crucial in addressing health challenges ranging from common ailments to complex diseases. Pharmaceutical companies engage in extensive research and development (R&D) to create new drugs, ensuring that they meet stringent regulatory standards while providing effective treatment options.