Indian pharma sector poised to move from generics to innovation-led growth: Industry leaders
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Industry leaders said on Monday that the Indian pharmaceutical sector is ready to shift from generic medicines to innovation-led growth.
- ✓Experts like Dilip Shanghvi noted that India has the scale to invest in research.
- ✓"The next decade is very important for India to move" toward becoming a global innovation powerhouse.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Line
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
The Indian pharmaceutical industry is well-positioned to transition from being a global supplier of generic medicines to an innovation-driven sector, backed by strong scientific talent, growing financial strength and supportive government policies, industry leaders said on Monday.
The pharmaceutical industry leaders -- Sun Pharma Executive Chairman Dilip Shanghvi, Biocon Executive Chairperson Kiran Mazumdar-Shaw, and Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha -- stressed the need for sustained investments in research and development (R&D), regulatory reforms and ecosystem building.
Speaking at the Indian Foundation for Quality Management's Third Annual Symposium, they said India is at "the right moment" to move towards an innovative pathway, with the next decade being "very important" for the country to shift from being the "pharmacy of the world" to an innovation-led industry.
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