It is a "golden time" for India to become a leader in the biopharmaceutical industry

According to the organiser of the annual India-US Healthcare Summit, the period following COVID19 is ideal for India to establish itself as a leader in the biopharma industry. The summit's 16th iteration is scheduled to take place this week.

The opportunity for India to become a world leader in biopharmaceutical innovation is now. According to Karun Rishi, president of the USA-India Chamber of Commerce, the current geopolitical environment, the top leadership in India's innovation-driven mindset, and the movement in the west for diversity, inclusion, and equity in clinical trials are the key fundamentals at play.

The 16th annual BioPharma & Healthcare Summit is being attended by several thousand people from all over the world and is being hosted digitally, like the previous two years. Participants include Dr. Vinod Paul, a member of NITI Aayog, Hari Bhartia, Kiran Mazumdar Shaw, Naresh Trehan, and Shiv Sarin from the Indian government and business.

The US government has made a significant contribution. The current acting director of the National Institutes of Health (NIH), Lawrence Tabak, the assistant director for health innovation in the White House Office of Science and Technology Policy (OSTP), Max Bronstein, and the former directors of the NIH, Julie Gerberding and Elias Zerhouni, are all confirmed.

The participation of top venture capitalists, academic leaders from Harvard and MIT, and global Research and Development heads of Janssen, Takeda, Sanofi, Amgen, Bayer, UCB and several other leading companies demonstrates the interest of international biopharma companies to collaborate with India, according to USAICC. Alex Gorsky, Executive Chairman of Johnson & Johnson, and Stelios Papadopoulos, Chairman of Biogen, were also present.

Positive regulatory regulations have been developed throughout the last few years. Even yet, the proportion of worldwide clinical trials conducted in India is incredibly modest. This is not a true reflection of India's potential, according to Rishi.

For large-scale international clinical trials to come to India, a strong clinical trials infrastructure and practical regulatory rules are essential. This will open up opportunities for partnerships, investments, businesses, the creation of high-paying jobs, and GDP growth.

He claimed that India would develop a whole innovation ecosystem.

In order for India to become an innovation nation and a source of innovation for accelerating the discovery, development, and manufacture of novel therapeutics for India and the world, Rishi said it is essential to cultivate the next generation of innovative leaders in the biopharmaceutical industry.

This is feasible. There is political will. For the benefit of patients, we must cooperate. For the benefit of patients, Rishi added, the international biopharmaceutical industry and the Indian government must work together, communicate, and overcome a lack of confidence.

The 16th Annual USAIC BioPharma & Healthcare Summit will bring together and engage executives to offer their perspectives on crucial subjects driving the biopharma ecosystem, according to Andrew Plump, president of R&D at Takeda Pharmaceuticals.

In order to promote clinical trial infrastructure, encourage multinational biopharmaceutical companies to conduct trials, and ultimately improve Indian patients' access to cutting-edge medications, he said, this year we are introducing a special panel that is concentrated on the clinical trial landscape in India.

India's innovation ecosystem is growing quickly on a basis of technology convergence, according to Kiran Mazumdar Shaw, executive chairperson of Biocon Group and member of the USAIC advisory board. "She said that India's IT strength has sparked a digital focus on biopharma innovation, leading to the development of AI-powered diagnostics, digital health management, and software for drug research.

"Examples include portable breast exams, CT scans powered by AI with immediate results, and quick screenings for bacterial and viral illnesses. According to her, at least three start-ups using CAR-Ts are seeing rapid progress in the field of cell and gene therapy.

The pandemic has revived the clinical research eco-system, and India's biopharma industry will spend significantly in discovery-led innovation over the next ten years. According to Shaw, USAIC's persistent efforts to lead India's innovation initiatives over the past 16 years are now bearing fruit.

Scientific and technological developments continue to foster innovation in the biopharma sector. The COVID-19 pandemic accelerated digitalization even more, revolutionising pharmaceutical research and development.

According to Hari Bhartia, founder and co-chairman of the Jubilant Bhartia Group, many clinical studies are now conducted electronically, with on-site visits only necessary for high-risk therapies and intrusive monitoring. With significant investments made by businesses in scientific innovation such as cell/gene therapies, integrated drug discovery models, mRNA-based vaccines, etc., the Indian sector is likewise undergoing profound changes, he claimed.

Digital developments like AI-backed drug research and digital clinical trial management tools serve to amplify this even further. India has the potential to become into one of the world's top markets for clinical trials despite regulatory and legal obstacles. Strong medical infrastructure, protection of IPR, accessibility to patients, seasoned staff, and cost effectiveness will serve as significant differentiators, according to Bhartia.