Category : Pharmacy
India's biopharma sector may see a surge in R&D spending to about $25 billion in the next “.5 -years, according to a Boston Consulting Group (BCG) report that said favourable policies need to be implemented to attract investment and enhance innovation in the field. The paper was presented at the US-India Bio-Pharma summit organised by the USA-India Chamber of Commerce (USAIC) on June 24, 2011.
The total amount currently being spent on innovative discovery programmes and development in the biopharma sector in India is about $2 billion. This amount can grow to $25 billion by 2025 if concerted efforts are made by various stakeholders like the government, academia and industry on developing R&D and innovation in the biopharma field.
The investment is expected to come from multinationals, Indian industry and funding organizations ploughing money into discovery and innovation. "The Indian government needs to implement favourable policies that enhance innovation and drive collaborations, besides addressing issues in critical building blocks like talent and infrastructure," BCG stated in its position paper, titled, 'Life Sciences R&D: Changing the innovation Equation in India.'
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