Foreign companies keen to tie up with Indian pharma

Several foreign companies are willing to tie-up with Indian pharmaceutical companies. As Ambassadors of 100 countries arrived in Pune near Mumbai over the weekend to visit the Serum Institute of India and Gennova Biopharma facility, many have expressed keen interest.

India's Central Drug Standard Control Organization has granted permission for the manufacture of COVID-19 vaccine for pre-clinical test, examination and analysis to seven firms, two of which are Serum Institute of India (SII) and Gennova Biopharmaceuticals.

The SII is involved in the AstraZeneca (LSE: AZN)/Oxford University vaccine against COVID-19, while Gennova is working on an mRNA-based vaccine.

Sweden has already acknowledged India’s role as the 'pharmacy of the world' and is focusing on expanding bilateral cooperation in the areas of pharma and life sciences.

Prime Minister’s interaction

Indian 0Prime Minister Narendra Modi interacted with Biological E and Dr Reddy’s Laboratories (BSE: 500124) via video conferencing and recently visited Zydus Cadila in Ahmedabad, Bharat Biotech in Hyderabad, and SII in Pune.

The SII has, on Sunday, became the first indigenous company to apply to the Drugs Controller General of India seeking emergency use authorization for the Oxford COVID-19 vaccine in the country citing unmet medical needs due to the pandemic and in the interest of the public at large.

According to the ICMR, the SII has already manufactured 40 million doses of the vaccine under the ‘at-risk’ manufacturing and stockpiling license it obtained.

Even as Mr Modi asked Indian pharma companies, involved in making coronavirus vaccine, to give suggestions regarding the regulatory processes, he also highlighted the surge of interest from foreign companies towards partnering with India’s pharma companies.

Luxembourg-based company B Systems was among the first to announce it is to partner with India to produce portable vaccine refrigeration equipment, which will address the issue of vaccine distribution in India. Officials said more tie-ups are in the offing.