India working on policy to encourage research in pharma

The Indian government is exploring ways to offer financial support to pharmaceutical players engaged in the areas of research and innovation for new drugs. Health Minister Mansukh Mandaviya said the government is engaging with global regulators for increased acceptance of Indian Pharmacopeia, even as he pitched for investments at an event on the pharmaceutical sector.

Mr Mandaviya said the government's policy to make healthcare accessible to 100 million families is creating an opportunity for the pharmaceutical sector. He lamented that although India is making generic medicines available to the world on a large scale, people of the country are consuming branded medicines, which is increasing the cost of medical treatment.

While the government has eased the policy for research in the pharmaceutical sector, the Minister said the time taken for granting permission to a company to carry out research has considerably been reduced.

Country should not limit itself to generic production

"One out of four generic tablets taken in the US, and one out of six in the world, is manufactured in India. The country should not limit itself to manufacturing generic medicines. It should also conduct research and sell patented drugs to the world market," he pointed out.

Mr Mandaviya said the government is working on a policy to encourage research in pharmaceutical companies, and will also deal with how they can be supported financially. A model of the policy has helped in the research and production of COVID-19 vaccines within nine months, he added.

India has the skill, manpower and trust to attract global investment in the pharma sector, said the Minister adding the number of health and wellness centers launched by Prime Minister Narendra Modi with the aim of making healthcare accessible and affordable to the poor has increased to 90,000, and is expected to go up to 150,000 in the next two years.

More than 8,500 Jan Aushadhi Kendras in India are also increasing the availability of quality generic medicines at half the price, he added.