It means Research and Development.
R&D can be defined as any project to resolve scientific or technological uncertainty aimed at achieving an advance in science or technology. Those who are working in R&D-Pharmacy are termed as scientists with greater responsibilities and sharp knowledge.
It is creative work undertaken on a systematic basis in order to increase the stock of knowledge including search of new molecule, synthesis and modification of known molecules or some methods to increase production rate by adopting different techniques.
Every year Billions of money is spent in R&D over worldwide. But Indian pharmaceutical companies have long been criticized for their low level of investment in R&D, both in India and other parts of the world. In India, most companies spend a fraction of their sales, less than 1%, on R&D. As a result, India has often been viewed as a third-world country that stumbles along by copying western products, aided by lax patent policies. The shift in the pharmaceutical space, the challenge for India in terms of doing more of the design of these larger molecules will be the shortage of expertise and the lack of an entrepreneurial ecosystem.
Because of involvement in TRIPs (Trade Related Aspects of Intellectual Property Rights- an international agreement administered by the World Trade Organization (WTO) that sets down minimum standards for many forms of intellectual property (IP) regulation mainly Product patent.) by India in 1995, now R&D become essential need for pharma-company to survive in the market.
Those who are working in R&D, requires more experience and obviously better knowledge about field.