A roundtable on “The Growth of the Indian Biopharmaceutical Industry” was organized by Pahlé India Foundationat the India International Centre, New Delhi.
Our panelists included esteemed experts Dr. K Madangopal from NHSRC-MoHW, Dr. Y.K. Gupta from AIIMS, Mr. Manoj K Ramakrishna from Cytiva, and Prof. Malik Zainul Abdin from Jamia Hamdard University.
During the period from 2019 to 2021, the biopharmaceutical industry became a key focus of global discussion, particularly during the upheaval caused by the COVID-19 pandemic.The global shortage of medical technology and vaccines highlighted the urgent need for greater self-reliance in critical areas of pharma. Following were some of the key takeaways from the roundtable:
- India’s pharmaceutical exports are characterized by high volume but low value, contributing 10% of global volume but only 1.5% of value with no note-worthy innovation in therapeutics, vaccines etc.
- With many biologics set to come off patent in the next 5 to 8 years, there’s a significant opportunity for India.
- India is gaining traction in the biosimilar market, with several products recently approved by the US FDA.
- However, we need to enhance our clinical trial infrastructure, as many promising molecules are getting stuck in this stage.
- Collaboration between industry and academia is crucial for driving innovation.
- It’s essential to incentivize pharmaceutical companies to invest in biopharma.
- Upgrading technology is also vital to boost yield and productivity, ensuring competitiveness on the global stage.
