The Hindu Business Line : Pharma research: DST begins interaction with industry, academia

THE Department of Science and Technologyexpects to release funds for entrepreneurs before the end of this year as a part of the Rs 150-crore Budgetary allocation made towards pharma and biotech research.

With the IPR regime in place, it has planned a series of interactive sessions with the pharma and biotechnology industry and academia aimed at providing thrust to the recently allocated Rs 150 crore for the Pharmaceuticals Research and Development Fund (PRDSF). The first such meeting was held at Hyderabad today where over 120 experts, including 50 companies from all over the country participated.

The Secretary, Department of Science and Technology, Prof V.S. Ramamurthy, said that the Government, while realising the challenges ahead for the pharma and biotech companies, has enhanced the initial corpus fund of Rs 100 crore-150 crore per year. This is a major step in the Government's effort to partner and help the pharmaceutical industry.

Addressing a press conference after a brainstorming session for PDRSF organised by the DST in collaboration with University of Hyderabad, All India Biotechnology Association and Bulk Drugs Manufacturers Association, today, he said out of this, Rs 80 crore would be earmarked for loans to entrepreneurs and carry 3 per cent simple interest, the remaining Rs 70 crore would be towards grant-in- aid.

"While a corpus of Rs 100 crore earlier meant that we would get about Rs 10 crore per annum as interest amount which would then be ploughed back to the industry, this budgetary allocation is a quantum jump in terms of providing DST the flexibility to invest Rs 150 crore in one year. We expect this to be an annual feature," he said.

This would provide much-needed support to drug and pharma related research activities. With the support of incubation facility, more companies, particularly the small and medium-sized entrepreneurs would be able to benefit, he said.

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