In line with the global industry’s commitment to innovation in India, PricewaterhouseCoopers (PwC) had been commissioned to assess the innovation landscape of the Indian pharmaceutical industry and to suggest policy recommendations to help India move up the innovation value chain.
PwC released the findings from a study that captures the critical enablers for transforming India into an innovation hub on the occasion of Organisation of Pharmaceutical Producers of India (OPPI) hosted meet to honour a visiting global pharmaceutical delegation of Kenneth C. Frazier - chairman and CEO, Merck & Co, Inc., USA; and Hideshi Honda, president-Asia Region, Eisai Co Ltd. This event was in continuation of OPPI’s golden jubilee celebration and aligned with the theme ‘50 Years: Healthy India, Innovative India.’
PwC presented their initial findings, which highlighted the need for India to strengthen four pillars of innovation: Infrastructure; financing; human resource, legal and IPR and regulatory, in order to create an environment conducive to innovation and able to attract global investment.
The visiting leaders shared their thoughts on the industry's potential, especially relating to pharmaceutical innovation in India. The global delegation met with top Indian government officials, academic experts, and business leaders. They encouraged support for innovation in India, including the development of new solutions to treat patients suffering from rare diseases and new medicines to save and improve lives.
According to Kenneth C. Frazier, “We are encouraged by the steps being taken by the Indian government to create a fertile business environment that will enable innovation to thrive. The success of Prime Minister Modi’s Make in India initiative will be further strengthened by building upon the country’s unique capacity for innovation, which is critical to meeting patients’ increasing health needs and India’s global economic competitiveness.”
Hideshi Honda, president-Asia Region, Eisai Co Ltd conveyed the message of Dr Haruo Naito, representative corporate officer and CEO, Eisai Co Ltd, who was unable to travel to India. Dr Naito said, “A strong innovation-friendly eco-system can encourage foreign direct investment and technology transfer, stimulate research, and benefit India with a more advanced healthcare system and newer and innovative medicines.”
Sharing his perspective, Dr Shailesh Ayyangar - president, OPPI said, “Over the past 50 years, India has seen rising income levels and increased life expectancies. Unfortunately, this rising affluence has also led to the emergence of lifestyle-related diseases, posing a big challenge to the country’s healthcare system. We continue to bring the fruits of years of research, for the benefit of Indian patients. Innovation can help cure diseases that were once incurable. We look forward to a tomorrow that will see a ‘Healthy India and an Innovative India.”
OPPI was established 50 years ago and represents the research-based pharmaceutical companies in India. OPPI believes the need for innovation must be balanced with the necessity for more accessible medicines, within a robust IP environment.