THE figures are astounding. In 1993, the total value of strategic alliance deals in the global pharmaceutical industry amounted to $34.8 billion (Rs 132,000 crore). In 1994, the value of only the top 25 deals was $46.2 billion (Rs 150,000 crore). Detailed figures are not yet available for 1995, but the year will be remembered for a series of mega mergers in the industry, with Glaxo's bid for Wellcome topping them all at $14.2 billion (Rs 50,000 crore). And last month, the boards of Sandoz and Ciba-Geigy met in Switzerland to put the final touches on the merger of these two giants, which will create a new entity called Novartis (a Latin word meaning 'new ability').