NDTV-Dettol Banega Swasth Swachh India NDTV-Dettol Banega Swasth Swachh India
  • Home/
  • News/
  • Pharma Industry Needs To Focus On Innovative Products To Achieve Global Leadership: Union Health Minister Mansukh Mandaviya

News

Pharma Industry Needs To Focus On Innovative Products To Achieve Global Leadership: Union Health Minister Mansukh Mandaviya

Union Health Minister Mansukh Mandaviya asked the pharma industry to focus on developing quality products and not just focus on the quantity

Pharma Industry Needs To Focus On Innovative Products To Achieve Global Leadership: Union Health Minister Mansukh Mandaviya
Union Health Minister Mansukh Mandaviya launched the National Policy on Research and Development and Innovation in Pharma-MedTech Sector

New Delhi: Union health minister Mansukh Mandaviya on Tuesday (September 26) asked domestic pharmaceutical industry to focus on the research and development of innovative products to move up the value chain and achieve global leadership. Mr Mandaviya, who also holds the Chemical and Fertilisers portfolio, asked medical technology companies to produce critical equipment in India for the global markets. While formally unveiling the National Policy on Research & Development and Innovation in the Pharma-Med Tech Sector here, Mr Mandaviya said the domestic pharmaceutical companies invest less on research and development when compared to multinational companies.

Also Read: Ayushman Bharat Most Important Government Welfare Scheme Underway In India Today: Minister Of State SP Singh Baghel

He noted,

International MNCs spend 20-25 per cent of their profits in research and innovation while for Indian companies the average is around 10 per cent…Till the time we do not come out with research-led innovative products, we cannot lead the segment globally.

He said the government wants to make the pharma industry self-reliant by 2047. The minister said,

Today is a historic day, an inflection point in the journey of “Atmanirbharta” in the pharma & medical devices sector. We need to transform Indian Pharma & MedTech sectors from a cost-based to a value-based & innovation-based industry.

Mr Mandaviya asked the pharma industry to focus on developing quality products and not just focus on the quantity. He added,

India can only achieve self-reliance in pharmaceuticals and medical devices by strengthening its research and development infrastructure that would drive the expansion of access to life-saving medicines and drugs and help India become a global pharmaceuticals and medical exports hub.

He said the government has been working closely with the industry and academia to bring about the changes in the domestic pharma industry in order to lead it to leadership position.

Also Read: Affordable, Accessible Healthcare Road Map For A ‘Healthy India’, Says Union Minister Jitendra Singh

The Department of Pharmaceuticals (DoP) notified the National Policy on Research & Development and Innovation in the Pharma-Med Tech Sector in India in August this year.

The policy aims to encourage R&D in pharmaceuticals, including traditional medicines, phytopharmaceuticals and medical devices.

It acknowledges the need for greater emphasis on encouraging R&D through indigenously developed products and technologies across the value chain so as to sustain global competitiveness.

The Ministry of Chemicals and Fertilisers also formally unveiled the Scheme for Promotion of Research and Innovation in Pharma MedTech Sector (PRIP), which intends to transform the domestic pharma and medical technology sector from cost-based to innovation-based growth by strengthening the research infrastructure in the country.

Also Read: A Look At How Mobile Technology For Maternal Healthcare Is Revolutionising India’s Health Goals

The scheme, with a budget outlay of Rs 5,000 crore, will focus on transforming India into a high-volume, high-value player in the global market of pharmaceuticals, meeting the quality, accessibility, and affordability goals. It will also enhance our share in the global value chain, Mr Mandaviya said.

NITI Aayog member V K Paul said the policy along with other initiatives like PLI schemes for the pharma sector is expected to change the entire pharma sector landscape.

ICMR Director General Rajiv Bahl termed the National Policy on Research & Development and Innovation in the Pharma-Med Tech Sector as historic. “This is probably the most important scheme we have probably seen in the past several years,” he stated.

The Indian pharmaceutical industry is the third largest pharmaceutical industry in the world by volume with a current market size of around USD 50 billion. Going forward, the industry could potentially grow to USD 120-130 billion over the next decade.

Also Read: New Health Campaign, ‘Ayushman Bhav’ To Reach Out 7 Crore Families: All You Need To Know About The Initiative

(This story has not been edited by NDTV staff and is published from a syndicated feed.)

NDTV – Dettol have been working towards a clean and healthy India since 2014 via the Banega Swachh India initiative, which is helmed by Campaign Ambassador Amitabh Bachchan. The campaign aims to highlight the inter-dependency of humans and the environment, and of humans on one another with the focus on One Health, One Planet, One Future – Leaving No One Behind. It stresses on the need to take care of, and consider, everyone’s health in India – especially vulnerable communities – the LGBTQ populationindigenous people, India’s different tribes, ethnic and linguistic minorities, people with disabilities, migrants, geographically remote populations, gender and sexual minorities. In wake of the current COVID-19 pandemic, the need for WASH (WaterSanitation and Hygiene) is reaffirmed as handwashing is one of the ways to prevent Coronavirus infection and other diseases. The campaign will continue to raise awareness on the same along with focussing on the importance of nutrition and healthcare for women and children, fight malnutrition, mental wellbeing, self care, science and health, adolescent health & gender awareness. Along with the health of people, the campaign has realised the need to also take care of the health of the eco-system. Our environment is fragile due to human activity, which is not only over-exploiting available resources, but also generating immense pollution as a result of using and extracting those resources. The imbalance has also led to immense biodiversity loss that has caused one of the biggest threats to human survival – climate change. It has now been described as a “code red for humanity.” The campaign will continue to cover issues like air pollutionwaste managementplastic banmanual scavenging and sanitation workers and menstrual hygiene. Banega Swasth India will also be taking forward the dream of Swasth Bharat, the campaign feels that only a Swachh or clean India where toilets are used and open defecation free (ODF) status achieved as part of the Swachh Bharat Abhiyan launched by Prime Minister Narendra Modi in 2014, can eradicate diseases like diahorrea and the country can become a Swasth or healthy India.

Highlights: Banega Swasth India Launches Season 10

Reckitt’s Commitment To A Better Future

India’s Unsung Heroes

Women’s Health

हिंदी में पढ़ें

This website follows the DNPA Code of Ethics

© Copyright NDTV Convergence Limited 2024. All rights reserved.