- The Indian pharma industry is expected to grow to $130 billion by 2030 and become the leading provider of medicines to the world, said Indian Pharmaceutical Alliance (IPA) Secretary General, Sudarshan Jain. The Indian pharma industry is currently valued at $49 billion and is the third largest in the world. India supplied medicines to over 200 countries in the world, he said. Sudarshan Jain said that with India becoming the fifth largest economy in the world, this is the time for Indian industry to make a difference in the world. He stressed on innovation, self-dependence, diversifying the export market and building capacity for the Indian industry to be future-ready. "When India completes its 100 years of independence, India in 2047 will be a $500 billion industry. PLI 1.0 and 2.0 are vital for India to achieve this goal," he said. The IDMA is working closely with the Government of India on PLI 2.0. Large part of imported medicine and equipment will be manufactured locally, decreasing dependence on imports and giving healthcare security to India. India is moving from being a generic manufacturing giant to value addition. Innovation, technology and entrepreneurship will drive India towards this, he opined. (Business Standard)
- Indian pharmaceutical market (IPM) grew 12.1% in value and 4.8% in volumes, in the month of August on back of strong growth across all the therapy areas, according to market research firm AWACS. IPM saw sales of Rs 16,239 crore during August. The wholesale price index (WPI) inflation linked price hike allowed by the government has helped the pharma industry to increase by 10% on drugs under price control, along with monsoon linked infectious diseases. The fastest growing categories are cardiac which grew at 13%, anti-infectives - 13% and gastrointestinal - 12%. Anti-diabetes and vitamins grew 9% respectively. Augmentin of GSK, Glycomet of USV and Mixtard of Abbott, remain top-3 selling brands in India. (ETHealthWorld)
- AstraZeneca India announced that it has launched its up-skilling program for pharmacists, iPHARMACY. The company announced that in the first phase of this programme, they have partnered with Neethi, a Kerala state cooperative consumers federation limited company, to run this program in Kerala. As a next step, the company is planning to collaborate with large pharma-retail chains from across India to expand this program to other parts of the country. The program will focus on inventory management, good pharmacy practices, customization of pharmacy for patients of future, and management of pharmacy during Covid. “There is an urgent need to bridge the gaps in existing healthcare infrastructure and ensure that support reaches healthcare stakeholders and patients are empowered to address gaps thereby improving patient outcomes. Being a patient-centric organization, we promptly identify the challenges in patient-healthcare professional (HCP) connect and swiftly develop tangible solutions with the help of technology. Pharmacists being one of the major pillars of the healthcare system plays a very critical role in enabling patients to understand disease and medications for that. By understanding that, we have partnered with a leading cooperative pharmacy chain in Kerala, Neethi Medical Stores to educate and upgrade the knowledge of pharmacists for better patient outcomes,” Dr. Anil Kukreja, Vice President- Medical Affairs and Regulatory, AstraZeneca India, said in a statement. (Financial Express)
- Drugmaker Pfizer announced six winners of the first edition of the Pfizer INDovation incubation initiative for healthcare start-ups. Pfizer will provide the grant as well as mentorship and technical assistance to the winners, while its programme partner Social Alpha will provide the programme acceleration support. The six winners will be given a grant of Rs 65 lakh each and also receive incubation support from Atal Innovation Mission (AIM), NITI Aayog, and IIT Delhi, which are among Pfizer Limited’s partners for the programme; the others are Foundation for Innovation and Technology Transfer (FITT), Accelerating Growth of New India's Innovations (AGNIi), and knowledge partner Health Innovation Exchange (UNHIEX). According to a statement released by Pfizer and its partners, the focus of the programme was oncology and digital health in view of the increasing burden of cancer in India and the emerging use of digital healthcare to ensure better patients. Apart from the grant, the support provided under the programme will include product engineering and development services, clinical validation guidance, regulatory advisory, identification of market access opportunities, and catalytic cross-industrial collaborations. (Money control)
- Ferring Pharmaceuticals and the Federation of Obstetric & Gynaecological Societies of India (FOGSI) launched a new call to action, ‘For Every Mother in India’, at the Embassy of Switzerland in New Delhi. According to the pharmaceutical company, the ‘For Every Mother in India’ campaign aims to mobilize a wide set of stakeholders across India, including policymakers, government agencies, development partners, academia, medical experts and civil society, in a collective push to end preventable maternal deaths. The move is a part of Ferring’s #ProjectFamily
: Safe Birth commitment to protect the lives of 20 million women and their families globally by 2030 through sustainable access to room temperature stable (RTS) carbetocin – a treatment used to prevent excessive bleeding after childbirth, or postpartum hemorrhage (PPH) – a leading cause of maternal deaths. “While 7 states in India have reduced their maternal mortality ratio to less than 70 per 100,000 births and 11 states have maternal mortality rates of less than 100 per 100,000 births, it is disheartening to see that every hour, 4 women die giving birth. At Ferring, we are working with partners to enable every state in India to meet UN Sustainable Development Goal 3.1 and prevent these often avoidable deaths,” Per Falk, President of Ferring Pharmaceuticals said during the event. (Financial Express)
This is based on my own personal research & does not reflect my organization's views
