CII, DoP To Organize Workshop On Encouraging Innovation In Pharmaceutical Industry

Mumbai, 7 March 2020:

The Confederation of Indian Industry (CII) in association with the Department of Pharmaceuticals (DoP) is organizing a workshop on encouraging innovation (NCB/Biologicals) in pharmaceutical Industry – strengthening industry-academia linkage on March 12, 2020 in Hyderabad.

There is an urgent need for the Indian pharma and biotech industry to shift focus from generic drug/API (Active Pharmaceutical Ingredient) to research and development intensive, innovative and novel drugs (for example, biologics, specialty and targeted immunotherapies), and complex biosimilar manufacturing endeavours.

A strong industry-academia collaboration shall play a cataclysmic role in building an innovation ecosystem in India. Although India commands over 10% of the global pharmaceutical industry market share by volume, it represents only 1.4% in terms of market value by revenue.

As the global branded drug market shifts from small molecules to innovative large molecules (e.g., biologics constitute nearly 50% of drugs by value), the Indian generic industry is at a critical inflection point.

CII is a non-government, not-for-profit, industry-led and industry-managed organization. Founded in 1895, it has over 9,000 members, from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 300,000 enterprises from around 265 national and regional sectoral industry bodies.

CII works with the Government on policy issues. CII has been a catalyst of change in India’s economic policy reforms. CII played a very important role during economic liberalisation in 1991 which knocked down the high walls of protection between Indian industry and the rest of the world. With 65 offices, including 9 Centres of Excellence, in India, and 11 overseas offices in Australia, Bahrain, China, Egypt, France, Germany, Iran, Singapore, South Africa, United Kingdom and United States, as well as institutional partnerships with 355 counterpart organizations in 126 countries, CII serves as a reference point for Indian industry and the international business community. Pharmabiz