'Golden time for India to emerge as innovator nation in biopharma sector'
Post COVID19, it's a golden time for India to emerge as an innovator nation in the biopharma sector, organiser of the annual India-US Healthcare Summit said ahead of the 16th edition of the meeting this week.
This is a Golden Time for India to emerge as an innovator nation in the Biopharma sector. Key fundamentals under play are: current geo-political situation, innovation driven mindset of India's top leadership, and momentum in the western world for diversity, inclusiveness and equity in clinical trials, said Karun Rishi, president of USA-India Chamber of Commerce.
Being held virtually, like the previous two years, USAICC said the 16th annual BioPharma & Healthcare Summit is being attended by several thousand from across the world. Indian government and industry leaders participating are Dr Vinod Paul, Member, NITI Aayog, Hari Bhartia, Kiran Mazumdar Shaw, Naresh Trehan, and Shiv Sarin.
There is a strong participation from the US government. Lawrence Tabak, Acting Director, National Institutes of Health (NIH) and Max Bronstein, Assistant Director for Health Innovation in the White House Office of Science & Technology Policy (OSTP) are confirmed so are the past NIH Director Elias Zerhouni and the former US CDC Director Julie Gerberding.
Participation of Johnson & Johnson's Executive Chairman Alex Gorsky, Biogen's Chairman Stelios Papadopoulos along with top venture capitalists, academic leaders from the Harvard, MIT and global Research and Development heads of Janssen, Takeda, Sanofi, Amgen, Bayer, UCB and several other leading companies demonstrates the interest of global biopharma companies to collaborate with India, USAICC said.
Over the past few years, positive regulatory policies have been framed. Still, the global clinical trials being done in India are a very small percentage of overall global trials. This does not reflect India's true potential, Rishi said.
Robust clinical trials infrastructure and pragmatic regulatory policies are key for global clinical trials to come to India on a large scale. This will pave way for collaborations, investments, startups, employment generation of high paying jobs and GDP growth.
Entire innovation ecosystem will be created in India, he said.
Rishi said developing and nurturing the next generation of innovative leaders in biopharma is fundamental to India becoming an innovation nation and source of innovation for accelerating discovery, development and manufacture novel therapeutics for India and for the rest of the world.
This is achievable. Political will is there. We need to work together for the common goal- patients. Global biopharma industry and the Indian government need to collaborate, communicate and remove trust deficit for the sake of patients, Rishi said.
Andrew Plump, president of R&D, Takeda Pharmaceuticals said this year's 16th Annual USAIC BioPharma & Healthcare Summit will convene and engage leaders to share their insights on critical topics driving the biopharma ecosystem.
This year we are introducing a special panel focused on the clinical trial landscape in India, and we hope to identify opportunities where USAIC can collaborate with key stakeholders in India to promote clinical trial infrastructure, incentivise multinational biopharmaceutical companies to conduct trials, and ultimately enhance Indian patients' access to innovative medicines, he said.
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