Industry Says Policy For Pharma, MedTech Will Forster Vibrant R&D Ecosystem In India
Industry leaders from the pharmaceutical and medical devices sector have lauded the government’s policy push for research and development (R&D) calling it an important milestone for India which will foster a vibrant ecosystem for R&D in the country. Industry spokespersons stated that the policy will bring various institutions and R&D projects to a common dashboard enabling coordination and commercialisation of priority drugs and devices.
The Indian government is pushing and incentivising the pharmaceutical industry to move from a cost-based to an innovation-led growth structure by strengthening the research infrastructure. India is the third largest pharmaceutical industry in the world by volume and 14th by value. The government is now giving the much-demanded path to the industry to move up this value chain globally.
On September 26, Union Health Minister Mansukh Mandaviya officially launched the National Policy on Research and Development and Innovation in Pharma-MedTech Sector in India and Scheme for Promotion of Research and Innovation in Pharma MedTech Sector (PRIP).
Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance said that the approval is an important milestone for India. "It would encourage India’s pharmaceutical companies and foster a vibrant ecosystem for R&D. Overall, this is a step in the direction to move to Make and Discover in India from Make in India,” Jain added.
With a budget outlay of Rs 5,000 crores, the PRIP scheme aims to promote industry-academia linkage for R&D in priority areas and nurture the pool of scientists in quality research. Out of the total budget outlay Rs 700 crores will be utilised to establish seven Centres of Excellences which will strengthen the research infrastructure in the country.
The remaining Rs 4,250 crores are set aside to encourage research for new chemical entities, complex generics subsuming biosimilars, medical devices, stem cell therapy, orphan drugs, and Antimicrobial resistance etc., wherein financial support will be given to the Industries, MSME, SME and Startups working with government institutes - for both in-house and academic research.
Rajiv Nath, Forum Coordinator, AiMeD said that the public procurement system needs to incentivise innovation as innovators do not have a market standing initially with even having zero turnover in the beginning stages.
"I am glad to share here that many MSMEs in the medical devices sector have hugely invested in R&D and they are making world-class devices, which are affordable and much better than the refurbished imported ones, these efforts need recognition and support,” said Nath.
Mandaviya emphasised while launching the R&D scheme and policy that India can only achieve self-reliance in pharmaceuticals and medical devices by strengthening its research and development infrastructure that would drive the expansion of access to life-saving medicines and drugs and help India become a global pharmaceuticals and medical exports hub.
He further said that the country needs to make policies, new products and new research according to the needs of our country and the world, in consultation with industries and academia. "We should become so independent that we should not be dependent on anyone for our critical needs," the Union Health Minister said.
Nath said that the new policy and PRIP scheme will lead to a coordinated approach by bringing various institutions and R&D projects on a common dashboard so that the industry knows what’s going on and where one can connect to seek competitive advantage as well as help to commercialise priority devices for meeting Indian public health care priorities.
