Last Updated on October 6, 2024 by The Health Master
Nagpur: The Center intends to launch a research-linked incentive program, similar to the production-linked incentive (PLI) scheme, to boost biotech research and development in India, according to Drugs Controller General of India (DCGI) Dr V G Somani.
PLI scheme aims to give companies incentives on incremental sales from products manufactured in domestic units.
DR. VG Somani was speaking on the first day of the 72nd Indian Pharmaceutical Congress in Nagpur. The three-day event will cover various issues related to the pharmaceutical industry, academia, and community pharmacy and will be attended by delegates from India and abroad.
According to Somani, head of India’s top drug enforcement body Central Drugs Standard Control Organization (CDSCO), the achievements of the Indian pharmaceutical industry during the COVID years were a huge boon for society.
First, it was urgent to identify the virus (coronavirus), and then it was difficult to develop a vaccine, medications, and diagnostics for COVID-19.
“But, with the encouragement from Prime Minister Narendra Modi, the Indian pharmaceutical industry accepted this challenge and successfully developed the vaccine that not only saved millions of lives in India but also in several other parts of the globe,” said Somani.
Underscoring the importance of policy reforms, innovation, and research and development, he said the government has taken several initiatives to aid innovative research and establish appropriate ecosystems.
According to Somani, the Center is “all set” to introduce a research linked incentive (RLI) scheme to cover “R&D costs for biotech products” in order to strengthen the capabilities of the domestic pharmaceutical industry and aid in its establishment on the global market.
Somani said the pharma industry has experienced numerous regulatory developments and several pharmaceutical companies are rethinking their regulatory approval and drug development strategies.
“The new Indian Pharmacopoeia 2022 has been introduced, and several amendments to the regulations for drugs and medical devices have been made,” he said.”
“This has been done to establish a dynamic pathway for ensuring patient safety while encouraging the growth of the sector.”
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