Govt exhorts pharma cos to invest more in R&D

The government today appealed to pharmaceutical companies to increase investment in research and development (R&D) to emerge as a hub of innovation in low-cost health products and service even as it is in the process of amending the Drugs and Cosmetics Act.
"Indian manufacturers are spending less than two per cent of the total turnover on research and development. The companies need to invest in development of new molecules and innovations," Health and Family Welfare Minister J P Nadda said while releasing the 'Vision Document-2030 of Indian Life Sciences'.
India will have to move from just being the manufacturer of generic drugs and emerge as a hub of innovation in low cost health products and services, he said at a FICCI conference on 'India Life Sciences', a report on life sciences industry.

Nadda stated that the government had unveiled 'Pharma Vision 2020' aimed at making Indian a global leader in end-to-end drug manufacture.
"The government has also put in place mechanisms such as the Drug Price Control Order and the National Pharmaceutical Pricing Authority to address the issues of affordability and availability of medicines," he said while releasing 'Pharma Vision 2030: Building India's Global Relevance'.
"We are ready to support suggestions on better R&D. We will discuss recommendations of the pharmaceutical companies. But we have to see how our R&D can become more robust, innovative and with added inputs," he said.

Saying that the patents of many bio-pharmaceuticals and innovative molecules are expiring in 2018, Nadda exhorted on the indigenous companies to grab the opportunity.

"We are in the process of amending the (Drugs and Cosmetics) act and to incorporate chapters of medical devices to unleash innovations and entrepreneurial spirit for manufacturers of medical devices," the minister said.
"This would be the best time for Indian manufacturers to initiate production of such components so that saving drugs reach millions of patients across the world," the Union minister said, adding the expectation of pharmaceutical industry through 'Make in India' is to at least double the production of trade by 2020.
Representatives of pharmaceutical industries requested the government to support production of medical devices in the country by making amendments in the Drug and Cosmetic Act.

"At present, we are importing all medical equipment used in hospitals. So the new rules should promote 'Make in India' of such devices," D S Brar, Chairman of GVK Biosciences, said.
According to Vision Document-2030, the life sciences industry aims to grow to a size of USD 190-200 billion by the end of this period and also to create four million new jobs in the country over the next 15 years.