Thursday
June 2
2016

Time for India to be innovator nation in bio-pharmaceuticals: Expert

WASHINGTON: India has a “strong potential” to become a hub for biopharmaceutical innovation and the time has come for it to emerge as an innovator nation in this sector, a top industry leader has said. Observing India’s potential, Michael Rosenblatt, executive vice president of Merck & Co, one of the world’s largest pharmaceutical companies, said yesterday that India can play a “leading role” in collaborative research in biopharmaceutics.

“India has a strong potential to become a hub for bio-pharma innovation and play a leading role in collaborative research for the same,” Rosenblatt said.

“Now is the time for India to emerge as an innovator nation in the biopharmaceutical domain,” said Rosenblatt ahead of the 10th annual India-US BioPharma & Healthcare Summit to be held in Boston later this week. He said there was a need for enhanced partnerships between Indian innovators, government and academia as well as their American counterparts in order to realise India’s true potential as a bio-pharma hub.

“We have been talking about ‘Ecosystem’, ‘Innovation’ and ‘Startups’ for the last ten years at our annual summit. It is heartening to see Prime Minister Narendra Modi actively trying to make this a reality in India,” said Karun Rishi, president of USA India Chamber of Commerce, which is organising the summit.

“This will have a huge economic impact creating high paying jobs , intellectual property and the real possibility for India to play a leading role in innovative drug discovery and development.”

Source: The Economic Times (link opens in a new window)

Categories
Health Care
Tags
innovation, pharmaceutical industry