Key Points
Exports of India's pharmaceutical and meditech sectors are expected to sustain the growth momentum in the ongoing fiscal despite a slowdown in the global economy, a senior government official said on Wednesday...
With the government revving up support for drug development in India, as many as 16 blockbuster molecules targeted for a wide range of therapeutic areas, including cancer, diabetes, HIV and tuberculosis, are in the pipeline to be produced in India, Department of Pharmaceuticals, Secretary Arunish Chawla told reporters on the sidelines of CII Pharma and Life Sciences summit here...
Even though there is a general slowdown in exports globally, the good news is that the Indian pharmaceuticals, biotech, and bulk drug exports have grown double-digit over the last year," he said in response to a query on export prospects of the pharma industry amid a global slowdown...
On support of drug development in India, he said,"We've done both studies and applied research to identify blockbuster molecules and blockbuster drugs in the traditional pharma space and in the new rising biotech and biosimilar space."..
While he did not elaborate on the name of the companies which are developing these drugs, Chalwa said,"These are mostly Indian companies, and they are taking help from the PLI scheme, the incentives to develop, research, take clinical trials and get the necessary approvals for these blockbuster molecules."..
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