R&D mission to seek cures for ignored Indian diseases
NEW DELHI : India’s first national policy on research and development in pharmaceuticals and medical technology sets out to create a ‘new drug discovery mission’, a move that would focus on Indian ailments and plug a gap in the world’s biggest manufacturer of generics. The policy also pushes the promotion of R&D in animal health care as about 70% of infectious diseases in the last three decades globally have originated in animals.
It is estimated that India loses around ₹3.69 trillion annually due to disease outbreaks. The national policy on R&D and innovation in the pharma-med tech sector was notified last week.
According to industry experts, research and development accounts for only 7% of the overall expenditure by the Indian pharma industry, compared to over 35% spending on R&D in developed countries. The new policy says a larger share of global value in the pharmaceutical sector is in innovation-based products, estimated to be 40% of a market of $6.65 trillion.
In such a scenario, a policy to promote drug discovery and innovation could unlock the value and increase the industry’s contribution to the Indian economy with an additional ₹98,400 crore in exports every year. Further, it would create a large pool of white-collar jobs and help enhance India’s differentiation vis-a-vis other developing economies.
“Achieving this vision will not only help India maintain its global relevance but also drive significant health and economic benefits for the country by meeting the current unmet needs in India. A policy direction to focus efforts on such drug discovery can generate substantial health benefits for India by enabling the development of drugs for India-specific ailments, which do not get adequate attention globally,"
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