There is a need to promote ‘Pharma Brand India’ through innovation, said S Rajesh, Director (Health), NITI Aayog at a national workshop on regulatory compliance for accelerating innovations held at National Institute of Pharmaceutical Education and Research (NIPER), Hyderabad on Wednesday.
Indian pharma, which is already a big player in the US as well as other parts of the world could further penetrate in the global market by continue to produce high quality drugs at reasonable prices coupled with innovation, he added .
Hardeep Vora, Program Manager -National Biopharma Mission, Biotechnology Industry Research Assistance Council (BIRAC), said during last seven years BIRAC had facilitated funding to the tune is ₹1,870 crore to 741 beneficiaries including small and medium enterprises and statues.
“We are trying to identify targeted niche areas for funding in the years to come,” he added.
A proper understanding of regulatory aspects with a friendly approach is vital for all stakeholders pharmaceutical industry, according to Shashi Bala Singh, Director, NIPER-Hyderabad.
Regulation should be all encompassing covering not only drug manufacturers but also sellers and clinicians, she said.
Referring to key aspects of regulation such as price control, Singh added that price regulation was important because of the need to ensure last mile connectivity for patients.
Over 130 delegates from industry, academia and policy makers participated in the workshop.