|
Ten years down the line, the Indian flag will fly high with pride in the global biotechnological and pharmaceutical space, speakers at a CEOs Conclave held as part of the ongoing Bio Asia 2011 said here on Tuesday. Chairman of Dr. Reddy's Laboratories K. Anji Reddy expressed optimism that in 10 years, India would boast of a few original products with patents and the country would transform from being one where generic products were manufactured to a nation where pure drug discoveries took place.
Hurdle
The only hurdle was the non-availability of sustained funding to take care of years of trials, he said, adding that in time, the scene would change with more talent coming in and sheer hard work would facilitate a free flow of virtually unlimited funds.
Chairman, GVK Bio, D.S. Brar said that a healthy knowledge transfer was taking place and expressed happiness that currently 100 programmes of drug discoveries were going on.
Funding
However, there was a constant danger of the funding pipeline drying up, a factor that preyed on the minds of scientists, he said. The business of drug discovery was the only area where loss was a norm and not an exception, he stated, adding, however, that he was sure of pure drug discovery once the companies and clinical research organisations crystallise in the next 10 to 15 years.
Innovation
He said that innovation would flourish in India and the country would attract the focus of the world.
Bobba Venkatadri, general partner, Venture East, agreed with Mr. Anji Reddy and asked him to continue with the good work and urged him not to worry about funding.
In 10 years, India had the opportunity of being the medicine chest of the world. “We can make it happen,” he asserted, reposing confidence in the talents of India, China and of researchers in the other emerging markets in different countries.
Source: The Hindu, 23rd Feb 2011
Visit for more details:www.bioasia.in
|
