Mega schemes for pharma development, med-tech innovation and reducing dependency API import to be announced next month
The Ministry of Chemicals and Fertilizers will soon announce a ₹5,000-crore research programme aimed at reducing India’s import dependency on Active Pharmaceutical Ingredients and promoting discovery of new drug molecules. “The policies aim to engage nine established pharmaceutical companies in impact research across six priority areas with prestigious government institutes. It also approved a new Scheme for Promotion of Research and Innovation in Pharma-MedTech sector with a total outlay of ₹5,000 crore for a period of five years, i.e., from 2023-24 to 2027-28. Dr. Mandaviya added that despite strong fundamentals, the sector faces various challenges, including high degree of import dependence on API and key starting materials, relatively low pace of development of biologic, bio-similars and other emerging products or trends, low technological capabilities in high-end scanning and imaging equipment, and need to generate acceptable scientific evidence for mainstreaming of traditional medicines.
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