The government floated EOI for major research and development in Pharma Medtech sector. Mint

New Delhi: The government has demanded an expression of interest (EOI) for research and development (R&D) projects to develop novel technologies in medicine, including medicines for medical equipment and communicable and non-communicable diseases.

Hypertension, lung disease, cancer, diabetes and drug discovery for rare diseases will be focused on. The EOI has been swimming for promotion and innovation of research and innovation in Pharma Medtech Sector (PRIP) for its plan under the Ministry of Chemical and Fertilizers by the Department of Pharmaceuticals.

PRIP aims to convert India into a global powerhouse for R&D in Pharma and Medtech sector, with a total financial outlay 5,000 crores – Made of two components.

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The first component, with an outlay 700 crores, the Center for Excellence (COES) is to be established in seven national institutions of Pharmaceutical Education and Research (Nipers). It will focus on anti-viral and anti-bacterial drug discovery and development, medical devices, wholesale drugs, phyto-pharmacuticals, biological theraputics etc.

Second component with The aim of 4,250 crores is to accelerate investment in R&D ecosystem.

Under this component, the government will focus on drug discovery and development of drugs, medical equipment, stem cell therapy and treatment of drug resistant patients in priority areas.

Amit Aggarwal, Secretary, Department of Pharmaceuticals, said, “All funds will go to the industry alone, but the industries can also come into partnership with academics. The government will provide financial assistance to the firms to promote R&D. India has a strong grip in the complex generic and biosymiller segment; However, the country needs to focus a great focus in areas such as new biological and chemical, unit, organ drugs, accurate medicine, drug development for anti-microbial resistance. ,

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Currently, the Indian Global Pharma industry has a 3.4% market share. If the industry adopts a trade-general approach, according to the government, the market price will be around $ 108 billion in CAGR by 2030.

The Indian pharma industry has been largely limited to normal medicines where it has a global leadership. But the total amount spent on Pharma R&D in India is only $ 3-5 billion per year, while in the US $ 50-60 billion and $ 15-20 billion in China.

As planned under the scheme, big companies can seek up to funding Can secure the funding of 125 crores while startups 1 crore, over a period of five years, based on their milestone.

Aggarwal said, “Now, we are not doing this former-judge. We will follow a very rational approach such as the Department of Biotechnology. We will look at the possibilities of public health value proposal, success and impact and will be evaluated on several parameters. This EOI will make us feel understanding about what is in the mind of the industry and people are actively participating. In the coming days, we will hold meetings with other government departments and industry stakeholders to discuss the functionality of the scheme. ,

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He said, “The last date to submit the EOI reactions is April 7, while the application process will be started in late April or early May,” he said.

India’s pharmaceutical market is priced at $ 50 billion for the financial year 2023-24, with domestic consumption of $ 23.5 billion and exports at $ 26.5 billion. It is the third largest volume in the world and is 14th in terms of value. More than half of exports are in markets under strict rules like America, European Union and Japan etc.

However, by further promoting research and innovation, there is a need to increase R&D expenditure in the country, experts said. There is an urgent need to focus on new areas where the future trajectory of the pharmaceutical industry are lies.

Rajiv Nath, Forum Coordinator – Objective – Association of Indian Medical Device Industry said, “The government has given very little weightage to the medical equipment industry and focuses on a large -scale pharmaceutical sector. We will discuss the matter with the government and look for amendment.”

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“This is a very good initiative to take the pharma industry to the next level because research is the next big task that needs to be done. The industry is fully prepared to participate in the scheme, “Sudarshan Jain, Indian Pharmaceutical Alliance.