Page 157 - CW E-Magazine (12-11-2024)

Pharmaceuticals Pharmaceuticals

EVENT HIGHLIGHTS “Startups often face challenges ing, investing just 0.8% of its GDP in stance, our Biotech Industry Partner-
India identifi ed as the ‘fastest-growing region’ for in finding laboratory space. Our R&D compared to developed nations ship Program requires co-funding from
bio-incubation centres offer ‘plug like the US and China, which spend industry players,” he said.
2025 by CPHI Annual Survey and play’ laboratories, which have over 2%. Mr. Kumar stressed that in- Mr. Kumar also acknowledged regu-
made it easier for startups to carry creasing private-sector investment in
out their research and development,” R&D is essential for India to realise latory challenges faced by biotech
Informa Markets, the organiser of fi nished only narrowly behind the USA dees seeking high-value deals. The pro- he added. its potential as a global biotech leader. startups but emphasised that BIRAC
CPHI & PMEC India, scheduled to be for ‘overall competitiveness’. Ms. Olga gramme is designed to help connect “We are working on programmes that is working to alleviate these issues
held from 26-28 November, 2024 in Ponomareva-Stepnaya, Brand Manager international key buyers with the right However, despite these advance- encourage industries to invest in R&D through regulatory advocacy and policy
Greater Noida, are expecting a record of CPHI & PMEC India, commented: exhibitors. The event will also host a ments, India still lags in R&D spend- alongside government funding. For in- initiatives.
attendance of over 50,000 visitors from “It has been an incredibly positive year dedicated space for emerging enter-
more than 150 countries for the leading for the Indian pharma industry, and we prises disrupting the pharmaceutical TAX CUT IMPACTS
pharma exhibition. are witnessing this fi rsthand with a re- landscape in India. This is similar to
cord attendance, including over 5,000 the start-up programmes launched at MRPs of three anti-cancer drugs to come down on
Supporting India’s growth trajec- international participants. other global CPHI events. The event’s
tory, the newly released CPHI Annual conference agenda will feature sessions account of exemption from Customs Duty and reduction
Survey 2024 once again ranks India as On the show fl oor we are seeing a spanning two separate streams: ‘Pharma
the top ‘growth nation’ for the upcom- wide breadth of local ingredient sup- Manufacturing Conclave’ and ‘Pharma in GST rates
ing 12 months, solidifying its lead over pliers, alongside many new advanced Sustainability Conclave’. The ‘India
other major pharma hubs. This growth equipment providers as the country and Pharma Awards 2024’, now in its 11th The National Pharmaceutical Pricing Duty. The Department of Revenue, 12% to 5% with effect from 10.10.2024
is driven by positive developments in regional partners seek to wider their edition, will recognise excellence across Authority (NPPA) has issued an Ministry of Finance issued Notifi cation on these three drugs. The NPPA has
the CDMO sector and an anticipated supplier base and modernise equipment 13 categories, celebrating the contribu- O.M. dated 28.10.2024 directing the 30/2024 dated 23.07.2024 reducing the directed all the manufacturers of
surge in CRO services accelerated by during this period of growth.” CPHI tions of industry leaders, innovators, and concerned manufacturers to reduce the Custom Duty to nil on these three anti- above-mentioned drugs to reduce their
initiatives like USA’s BIOSECURE India has responded to rising demand visionaries from across the Indian pharma- MRP on three anti-cancer drugs, Trastu- cancer drugs. MRP. The manufacturers are required to
Act. Mirroring this trend, India also by launching several new initiatives, in- ceutical sector. The awards ceremony zumab, Osimertinib and Durvalumab. issue a price list or supplementary price
topped the CDMO ranking for predicted cluding the ‘Connections Programme’, will take place on the evening of 28th This is in pursuance to the announce- Further, the Department of Revenue, list to the dealers, State Drugs Con-
‘growth over the next three years’ and offering a dedicated service for atten- November 2024 at the Expo Centre. ment made in the Union Budget for the Ministry of Finance has issued notifi ca- trollers and the Government indicating
year 2024-25 exempting these three tion no. 05/2024 dated 08.10.2024 noti- changes and to submit information
FOCUS ON INNOVATION anti-cancer medicines from Customs fying the reduction in GST Rates from regarding price change to NPPA.
India’s bioeconomy valued at $150-bn: BIRAC MD PM lays foundation stone of four Centres of

India’s biotechnology sector is wit- PTI, Mr. Kumar highlighted India’s sig- ing scientists move their research out of
nessing remarkable growth, with the nifi cant contributions to global health- labs and into the market,” he said. Excellence at NIPERs
country’s bioeconomy now valued at care, with 40% of the world’s generic
$150-bn but there is still signifi cant medicines being supplied by Indian Since its formation in 2012, BIRAC On the occasion of Dhanvantari bulk drugs at Vapi in Gujarat, Hyderabad the country at the All-India Institute of
untapped potential in innovation and companies. has played a critical role in creating a Jayanti and Ayurveda Day on October in Telangana, Bengaluru in Karnataka, Medical Sciences (AIIMS), New Delhi.
product development, which could fur- biotech innovation ecosystem, he said. 29, the Prime Minister, Shri Narendra Kakinada in Andhra Pradesh and The main objective of this kendra is
ther elevate India’s global standing in “We have enormous potential and Mr. Kumar informed that the number Modi, laid the foundation stone of Nalagarh in Himachal Pradesh. These providing affordable and quality med-
the sector, Dr. Jitendra Kumar, Manag- capability, but when it comes to the value of biotech startups in India has grown four Centres of Excellence at National units will manufacture high-end medi- icines to the patients visiting AIIMS for
ing Director of the government’s Bio- of our bioeconomy, we are ranked 14th from about 300 to over 8,000 with signi- Institute of Pharmaceutical Education cal devices, such as body implants and treatment of various ailments. Reiterat-
technology Industry Research Assis- globally. This is because much of the ficant government support driving and Research (NIPER) Ahmedabad in critical care equipment, along with ing the government’s priority to reduce
tance Council (BIRAC), said. value stems from patented, innovative this expansion. Additionally, the bio- Gujarat for medical devices; NIPER important bulk drugs. the cost of treatment, be it the poor or
products – an area where India still economy has surged from $35-bn to Hyderabad in Telangana for bulk drugs; middle class, the Prime Minister men-
BIRAC is a not-for-profi t public needs to improve,” Mr. Kumar said. To $150-bn in just a decade. NIPER Guwahati in Assam for phyto- He mentioned that inauguration of tioned the launch of more than 14,000
sector enterprise set up by the Depart- address this gap, BIRAC is emphasis- pharmaceuticals; and NIPER Mohali in these plants would play a key role in Jan Aushadhi Kendras across the coun-
ment of Biotechnology (DBT) that ing innovation and nurturing startups A key achievement of BIRAC, Punjab for anti-bacterial anti-viral drug manufacturing of advanced medicine try where medicines are available at
supports and promotes innovation, through various programmes designed Mr. Kumar said, has been the creation discovery and development. and high quality stents and implants 80% discount. He informed that the
entrepreneurship, and research in the to convert academic research into mar- of bio-incubation centres across India, and further India’s growth. poor and middle class have managed
sector. ketable products. “Through initiatives providing crucial infrastructure for He also inaugurated fi ve projects to save Rs. 30,000-crore due to avail-
like the Promoting Academic Conver- startups to develop proof-of-concept under the Production Linked Incentive The Prime Minister also inaugura- ability of affordable medicines through
In an interview with news agency, sion to Enterprise (PACE), we are help- products. (PLI) scheme for medical devices and ted the biggest Jan Aushadhi Kendra of these kendras.

156 Chemical Weekly November 12, 2024 Chemical Weekly November 12, 2024 157

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