Experts from the industry and R&D feel that India and China must have their own innovation model and it is a time for the evolution. Both Countries should work on finding the most affordable solution, they said. The panel, consisting of Steven Hutchins, Director, Outsourcing, Merck & Company, Inc., USA, Bala S Manian, founder, ReaMetrix Inc., USA, Samir K. Brahmachari, director, Institute of Genomics & Integrative Biology (CSIR), India and Swapan Bhattacharya, Head, TCG Life Sciences, India, felt that the innovation is all about ability to create change and with change will take place evolution.
They were speaking at a Panel Discussion on ‘Moving from a Fee-for-Service/CRO Model to an Innovation Model in India and China: Challenges and Opportunities,’ a part of IBC's three-day conference and exhibition on 'Drug Discovery to Clinical Trials' in Mumbai. The panel discussed on the innovation model, a need for shift from Fee-for-Service Model to an Innovation Model and whether the Asian countries are ready for the shift. Also, they discussed about the western interest in Asian Innovation technology.
On the occasion, Bala S. Manian, outlined the similarities and dissimilarities between Silicon Valley of early eighties and the Indus valley of today as it relates to life science activities. He described through examples why it is necessary to think and act locally even though the objective is to address global opportunities. Dr. Manian was speaking on 'Empowering Drug Discovery - Entrepreneurial Journey from Silicon Valley to Indus Valley'.
"R&D activity is not just important to large organization but has direct impact on entrepreneurial activity and venture capital efficiency. Today the cost of innovation in Silicon Valley is prohibitively expensive, which was not the case in 70's and 80's. The "intersection in India is to use cost arbitrage to create value arbitrage," he explained.
By delineating the reality from the promise, Dr. Manian addressed the changes in the thinking paradigms required to fully realize the potential of drug development through the "cost arbitrage" of Indian scientific resources. Doing business in India is not about "cost savings" but about leveraging capital efficiency, he said.
Long known for its expertise in informatics and chemistry services, India is emerging as a capable player on a variety of other fronts including Genomics research. The presentation on ‘The Current Status of India's Strengths and Capabilities in Early Stage Research' by Samir K. Brahmachari, director, Institute of Genomics & Integrative Biology, CSIR, India provided an overview of India's strengths and capabilities in early stage research. The discussion focussed on how India's IT skill and invaluable genetic resources are being utilized for functional Genomics research for development of new generation of healthcare products and services.
Some of the other subjects discussed on the occasion included ‘Tumour Intracellular Redox Status - Target for Novel Anti-Cancer Drug Design’ by Shazib Pervaiz, Vice Dean, Research and Graduate Studies and Director, National University Medical Institutes, National University of Singapore. Davinder Gill, Director Antibody Technologies, Wyeth Pharmaceuticals discussed on Discovery and Optimization of Anti-Cytokine Antibodies. ‘Anti-Infective Agents: Our Challenge for the Next Decade’ was discussed by Norton Peet, R&D Consultant, USA.
Ian Tarr, Executive Vice President, Pharma Chem, Thomson Scientific, UK spoke on new Directions in Pharma R&D Information Services.