New Delhi: Biocon Chairperson Kiran Mazumdar-Shaw called for increased investment in research and development to drive innovation and foster a culture of intellectual property. She highlighted how India, already the world’s largest exporter of generics and a major player in vaccine production, can achieve greater value by nurturing innovation.
Mazumdar-Shaw emphasized the need to shift focus towards value creation through innovation. "India ranks 14th in terms of value in the global pharma landscape. We need to invest in R&D and foster a culture of intellectual property to capture greater value," she said.
Addressing a session during the Global Bio-India 2024 event, she positioned the country as a future global leader in biosciences and innovation. Mazumdar-Shaw highlighted India’s unique advantages, including its rich scientific talent, robust technological capabilities, and entrepreneurial drive.
She emphasized the transformative nature of biology, noting that it has become the new frontier where we are pushing the boundaries of human knowledge and capability. She highlighted how biosciences, once confined to the laboratory, are now permeating nearly every aspect of human existence, from medicine and agriculture to environmental conservation and technology.
Mazumdar-Shaw also reflected on India’s strengths in the global pharmaceutical sector, noting that the country is the world’s third-largest manufacturer of medicines by volume and the largest exporter of generics. "One in three pills consumed in the U.S. and one in four in the U.K. are produced in India," she stated, underscoring the scale of India’s pharmaceutical production.
Published On Sep 12, 2024 at 06:01 PM IST
Reference : https://health.economictimes.indiatimes.com/news/pharma/pharma-industry/kiran-mazumdar-shaw-calls-for-innovation-driven-value-creation-in-indias-biotech-sector/113294834
