Yes, you are eligible to apply for the phd program of the CDRI after completing m. pharmacy. CDRI offers PHD program in following areas:

Biochemistry
Botany
Clinical & Experimental Medicine
Drug Target Discovery & Development
Endocrinology
Fermentation Technology
Medicinal & Process Chemistry Division
Microbiology
Molecular & Structural Biology
Parasitology
Pharmaceutics
Pharmacokinetics & Metabolism
Pharmacology
Toxicology

Eligibility conditions for the PHD course:
The applicant should have completed M.Sc./M.Tech/M.Pharm./M.S. in Life sciences/Biotechnology/Pharmaceutical Sciences (Medicinal chemistry/pharmaceutics/pharmacology/ pharmaco-toxicology/bioinformatics)/Organic or Analytical Chemistry/M.B.B.S. and qualified in CSIR-UGC-NET, ICMR, DBT examinations can apply……………….

If you want to know more about it then contact to the address given below:

Address
Central Drug Research Institute
Chattar Manzil, M.G.Road, Kaisarbagh, Lucknow, Uttar Pradesh 226001, India ‎