Frost & Sullivan revisited Goa this year to chronicle the second edition of the highly successful and internationally acclaimed "Opportunities in Life Science Molecules: Global Partnership Summit 2006." The global summit was organized on May 22nd-23rd,, 2006 at the Park Hyatt, Resort & Spa in Goa, India.
The summit brought together luminaries from the international and Indian corporate world to discuss strategic issues affecting the life sciences industry today, with special focus on Indian players and how they can cash in on the opportunity. Aroop Zutshi, senior partner, Frost & Sullivan introduced the summit and the rationale behind it on day one. An insight into the current trends in the life sciences industry was shared by Venkat R Kalavakolanu, chairman and MD, Jupiter Bioscience Ltd.
The first session of the summit began with the module highlighting the strategies in outsourcing, where eminent speakers from Pfizer Inc, Pharmacopoeia USA, Baxter Healthcare USA and ChrysCapital India shared their experiences on the diverse issues of outsourcing to India. The second half was more interactive with two power-packed panel discussions on "IP, Reliability, Reproducibility, Control or lack thereof - Are these continuing areas of concerns for Alliances with India?" and "Acquisitions versus Licensing versus Alliances - What works best under different scenarios?"
The global life sciences industry is on the anvil of 'interesting' times, a future full of unprecedented levels of collaboration, and India is fast becoming an important component of this industry. Frost & Sullivan estimates the clinical and discovery research spend outsourced to India to be more than $500 mn, and the revenues for custom synthesis and manufacturing to be in the range of $ 1-1.5 bn in India - currently less than 10% of the global industry.
A large number of medium to big sized pharmaceutical and biotech companies across the world, (predominantly in the west) have followed the outsourcing path to avoid any major capital investments. "Indian companies today have grown from mere suppliers of generic intermediates and APIs to those following a collaborative business approach involving API manufacturing, contract manufacturing for already existing drugs, clinical outsourcing and research partnerships. With many companies having FDA approved sites, and many others following GMP processes, Indian firms are able to deliver products on time, adhering to global quality standards", says Mamta Wadhwa, director, chemicals, materials and foods at Frost & Sullivan (India).
The Life Sciences Summit 2006 aimed at providing the participants with a chance to familiarize themselves with the analysis of core issues affecting the life sciences industry in India and abroad.
The second day of the summit would cover the key module "Achieving successful and sustainable cross - border partnerships in growing markets" with speakers from Otsuka Pharmaceuticals (Japan), EMS-Sigma Pharma Group (Brazil), AstraZeneca (Sweden), GlaxoSmithKline (UK) and NPIL Pharma (UK). Ed. Robinson, Advisory Board Member of Fleming Family and Partners, UK will conduct a case study cum workshop on the Biotech Industry.
Event partners are Jupiter Bioscience Limited, Nicholas Piramal India Ltd, Unimark Remedies Ltd. and Amoli Organics Ltd.
The range of topics this summit has to offer has sparked off interest from the media across the globe, including PharmaVoice, Pharmiweb, Inpharm.com, GOR, China Chemical Reporter, Bionity.com as international media partners and Pharmabiz, Chemical Weekly as national partners. CNBC TV 18 is the TV partner for this event.
For further details on the Life Sciences Summit 2006, please visit www.frost.com/cmf-goa-summit2006