Research & Development
Research and development is key to build a strong healthcare and pharmaceutical sector. Filling gaps in the Healthcare Value Chain, so that considerable value can be unlocked from the collective effort. Our committee will look at areas of government intervention, monetary and knowledge-based support through which in-country research can be incentivized and scaled up for the enhancement of the industry.
The expertise required for generic R&D is very different from that required for innovation. Hence, it is crucial to set up databases, to spot opportunities of early entry available to generics from impending patent expiries and guide companies to look at alternate ways to make non-infringing products or scientifically invalidate patents, where possible, through directed R&D efforts that seek to achieve these goals.
Committee will enable companies to scale the value chain by helping them to build their in-house R&D capability for innovation, to carry out candidate selection, conduct phase 1, 2, 3 clinical trials that lead to product development and launch.
Simultaneously, curricula development is required to improve the standards of education in healthcare and pharmaceuticals while making classroom learning relevant for immediate application to industry.
Through knowledge sharing and joint research activities, the committee will look at platforms for knowledge exchange that will ultimately raise the bar for R&D. A futuristic view to encourage the transfer of this capability from lab to market, harnessing projects that may be in advanced stages of development at premier institutions of learning like the IIT’s and other Tech labs is desirable. It will enable the patenting of marketable inventions and frugal medical devices that could be of relevance in emerging, expanding and developing markets, thereby setting in motion a virtuous cycle to monetize R&D efforts.
Genetic engineering, personalized medicine, biologics, and bio-generics are other areas of future growth where R&D efforts can be targeted. The Committee will look at such forward-looking opportunities and shortlist them for its members to take them to their logical conclusion. It will serve as a sounding board for R&D so that more such effort can end up in its constructive development and commercialization.