Key Points
New Delhi:Biotechnology can help improve access to and availability of drugs, Biocon founder Kiran Mazumdar-Shaw said Tuesday, a day after the governmentannouncedthat the Indo-US initiative iCET would expand to include this multi-disciplinary field within its ambit...
Speaking at Carnegies Global Technology Summit Tuesday, Shaw spoke of the many provisions within iCET which could improve accessibility by using biotech, generative AI and more..
Yet, numerous challenges, including regulatory ones, remain in developing biotech, to ensure safety and efficacy, she said.. Shaw said regulatory processes made taking ideas from the lab to the market long and gestational, adding that the process was also expensive, which deterred investment..
On the other hand, she said, the results were immediate in the IT sector.Biotech required decades, with a high probability of failure, she said.. Shaw called for a complete rehaul of regulatory processes, critiquing their present dependence on iterative processes, trial and error and human subjectivity in data interpretation...
These iterative processes can be made much more predictable using generative AI and data analytics, which can come up with algorithms to provide greater probability of success and predictability on delivery, Shaw said.. Emphasising the need for an ideas economy and the numerous benefits of using emerging technologies in the sector, such as personalised drugs and more, the Biocon founder criticised the pharma and biotech sectors for being late adopters of technology due to regulations...
