Union Health and Family Welfare Minister Mansukh Mandavya said Monday that India identifies itself as a global pharmaceutical hub, and its industry plays a central role in obtaining better global fitness results by serving as a reliable supplier of affordable, high-quality medicines. Mandaviya said this is an interaction with representatives of Japanese pharmaceutical corporations and members of the Japan Pharmaceutical Manufacturers Association (JPMA) at the Indian Embassy in Tokyo, according to an official statement.
JPMA Managing Director Junichi Shirais and Managing Director Dr. Sachiko Nakagawa also participated in the interaction. “India has played a vital role in global accessibility by providing around 60% of the world’s vaccine source and 20-22% of generic exports. In the fight against the COVID-19 pandemic, India has provided essential medicines to some 185 countries,” Mandaviya said addressing the assembly.
The Union health minister said India’s pharmaceutical industry has basically focused on the production of generic drugs, export of bulk drugs and supply of active pharmaceutical ingredients. of $130 billion by 2030,” he said.
He further said that: “Three bulk drug parks are creating a physically powerful ecosystem for pharmaceutical manufacturing. To promote studies and progress in the pharmaceutical sector, the Government of India has established six National Institutes of Pharmaceutical Education and Research and designated them as ‘Institutes of National Importance’. In 2019, the launch of the New Medicines and Clinical Trials regulations further contributed to the expansion of the clinical trials sector, with many opting for India as the country for global clinical trials. “developing opportunities in the Indian market, Mandaviya said that “the pharmaceutical industry in India has attracted a lot of investment from foreign corporations and has noticed partnerships and collaborations. This has opened up exciting opportunities for global pharmaceutical corporations. Enter the Indian market, according to the official statement.
“New production linkage incentive (PLI) systems have also encouraged brands to produce medicines in India, with the aim of supplying them to the global market,” Mandaviya said. He reported that, globally, biopharmaceutical studies and innovation have key drivers of expansion in the life sciences sector, especially with the increasing prevalence of biologics and biosimilars, noting that “in India, the biopharmaceutical sector has achieved an impressive 5-year compound annual expansion rate (CAGR) of 50% and is expected to continue to thrive. “”
Reporting on the call in development for India’s classic medicines, Mandaviya noted that “the government has made efforts to integrate classical medicines and plant protection products into mainstream public practices. With India’s biodiversity and abundance of flora and fauna, there is great potential to incorporate hedging products into the global price chain. “He stressed: “Strengthen the R
The EU Minister of Health also invited Japan to collaborate on studies and innovation in cutting-edge emerging technologies and treatments, such as precision medicine, gene and mobile therapy, biologics and the use of virtual tools. improve the domestic availability and affordability of those cutting-edge remedy options. “
The assembly was also attended through Vishal Chauhan, Co-Secretary, Ministry of Health; M. Sunao Manabe, Representative Director, Executive Chairman and Chief Executive Officer, Daiichi Sankyo Co. , Ltd; Dr. Osamu Okuda, Representative Director, President and Chief Executive Officer of Chugai Pharmaceutical Co. , Ltd; M. Daikichiro Kobayashi, President of Meiji Seika Pharma Co. , Ltd; M. Hiroyoshi Tosa, President and Representative Director, Otsuka Chemical Co. , Ltd; and other Union government officials. (ANI)
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