Government to set-up Biopharma Industry incubator
The Dollar Business Bureau Days after the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi approved two significant foreign investments (FIs) in the pharmaceutical sector – Aurobindo Pharma Ltd; and Glenmark Pharmaceutical Ltd; Union Minister for Science & Technology and Earth Sciences Dr Harsh Vardhan, announced on Saturday that Government would soon set up the Biopharma Industry Incubator (BII) under the umbrella of CSIR-CDRI, Lucknow. The S&T Ministry is also considering setting up Government Laboratory Practices (GLP)-certified labs in CSIR-CDRI for complete range of Investigational New Drug (IND) studies. The Minister said that the step would foster new drug development as well as shore up the financial bottom line of the laboratory, said a PIB release. The Minister added that the Indian pharmaceuticals sector would soon be showcasing ‘candidate drugs’ for malaria, osteoporosis and diabetes. The “candidate drugs” are currently undergoing clinical trials. “India ranks third in terms of volume of production with 10 percent share of the global market by volume and 14th largest by value and is often dubbed the ‘Pharmacy of Developing World’,” said the Minister and added, “India still has a long way to go in Pharma R&D. Moreover, in India pharma needs to move from a phase of manufacturing to innovation. New drug R&D in India is mostly an affair of government organisations.” “I am certain that India has the potential of becoming a global pharmaceutical powerhouse and is in the process of putting some key enablers in place. These include giving the right incentives for R&D, forging alliances with the private sector and keeping an open mind on suggestions for fiscal relief to the private sector so that its role in R&D is enhanced,” the Minister said. Further, the Minister announced the formation of a National Centre for Laboratory Animals in the CSIR-CDRI new campus conforming to national and international guidelines. The new institution would serve as a referral centre for lab animal breeding and experimentation for new drug development.
This article was published on April 11, 2015.