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India's biotechnology sector is witnessing remarkable growth, with the country's bioeconomy now valued at USD 150 billion but there is still significant untapped potential in innovation and product development, which could further elevate India's global standing in the sector, Dr Jitendra Kumar, Managing Director of the government's Biotechnology Industry Research Assistance Council (BIRAC), said. BIRAC is a not-for-profit public sector enterprise set up by the Department of Biotechnology (DBT) under the government that supports and promotes innovation, entrepreneurship, and research in the sector. In an interview with PTI, Kumar highlighted India's significant contributions to global healthcare, with 40 per cent of the world's generic medicines being supplied by Indian companies. "We have enormous potential and capability, but when it comes to the value of our bioeconomy, we are ranked 14th globally. This is because much of the value stems from patented, innovative products' -- an
Bharat Biotech on Tuesday said it has collaborated with the Netherlands-based Bilthoven Biologicals B.V, a wholly-owned arm of Serum Institute of India, to strengthen production and supply security of oral polio vaccines. An agreement has been signed between the two partners under which Bharat Biotech will procure drug substances for the production of oral polio vaccines (OPVs) to be supplied within India and globally, the company said in a statement. Through this collaboration, Bharat Biotech and Bilthoven Biologicals (BBio) will jointly obtain regulatory approvals and licences required to commercially manufacture OPVs in India for global supplies from drug substances manufactured in the Netherlands at BBio, it added. "This collaboration...exemplifies cooperation between vaccine companies, ensuring a secure supply of oral polio vaccines and fortifies the nation's mission to eradicate polio," Bharat Biotech Executive Chairman Krishna Ella said. Serum Institute of India CEO Adar ...
US lawmakers are raising alarms about what they see as America's failure to compete with China in biotechnology, warning of the risks to US national security and commercial interests. But as the two countries' rivalry expands into the biotech industry, some say that shutting out Chinese companies would only hurt the US. Biotechnology promises to revolutionise everyday life, with scientists and researchers using it to make rapid advances in medical treatment, genetic engineering in agriculture and novel biomaterials. Because of its potential, it has caught the attention of both the Chinese and US governments. Bills have been introduced in the House and Senate to bar foreign adversary biotech companies of concern from doing business with federally funded medical providers. The bills name four Chinese-owned companies. The Chinese Embassy said those behind the bills have an ideological bias and seek to suppress Chinese companies under false pretexts. It demanded that Chinese companies b
Karnataka Chief Minister Siddaramaiah on Wednesday said the government would unveil a revised biotech policy at the Bengaluru Tech Summit-2023, an annual global tech event which took off here. Speaking at the inauguration of the three-day BTS, Siddaramaiah also said the state is set to launch the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) policy. "As we continue to champion advancements in biotechnology, I am thrilled to announce that revised biotech policy is set to be unveiled at the Bangalore Tech Summit," the chief minister said. This policy revision reflects the Karnataka government's commitment to staying ahead of all and fostering growth in this critical sector, he added. Siddaramaiah said that recognising the evolving landscape technology and creativity, the Karnataka government understands the importance of animation, visual effects, gaming, and comics. "It gives me immense pleasure to share that the Government of Karnataka is set to launch