Center plans to provide financial support for pharmaceutical innovations: Minister of Health Mansukh Mandaviya

The Indian government is studying ways to provide financial support to pharmaceutical players engaged in research and innovation for new drugs, Union Health Minister Mansukh Mandaviya said on Saturday at a ‘a call for investment at a pre-Vibrant Gujarat world summit in Ahmedabad.

This comment from the Union Minister comes after the industry has repeatedly stressed the need for financial support.

Encourage innovation

“In the coming days, we are working to offer financial support to companies conducting research in the field of new drugs. This is practiced all over the world and will also be practiced in India. Work continues in this direction, ”Mandaviya said addressing a gathering of investors, pharmaceutical companies, healthcare professionals and regulators in India and abroad. “We manufacture generic drugs for the whole world and are known as a manufacturer of generic drugs. But now we are encouraging research in the country so that we too can have our own patented drugs, ”he said.

The Minister of Health also called on companies to manufacture innovative and affordable products both in the medical space and in medical devices.

S Aparna, Secretary of the Department of Pharmaceuticals, Chemicals and Fertilizers, Government of India, stressed the importance of getting ahead by focusing on innovations in the pharmaceutical sector. “I urge delegates to consider the opportunities available to India.”

Gujarat Chief Minister Bhupendra Patel called on investors in the health, pharmaceuticals and medical devices sectors to invest in the state and provided political support and an ease of doing business.

The holistic health care summit also brought together the Indian drug regulator VG Somani, the Comptroller General of Drugs of India (DCGI), Sarah McMullen, National Director for India, Food and Drug Administration. of the United States (USFDA), among other leaders in the health space.

Faster and easier market access

Mandaviya also said the government is also working with regulators in different countries to recognize Indian Pharmacopoeia (PI) to make exports easier and hassle free for Indian drug makers.

“We are discussing with global regulators to recognize the Indian pharmacopoeia. By mutual agreement, we see that the world is now preparing to recognize the Indian pharmacopoeia. This will benefit our pharmaceutical companies to gain faster and easier access to these global markets, which have accepted the Indian pharmacopoeia, ”he added.

The Islamic Republic of Afghanistan was the first country to recognize intellectual property in 2019. Intellectual property is an officially recognized book of standards in accordance with the Drugs and Cosmetics Act of 1940 and the Rules of 1945 derived from it.

The Indian Pharmacopoeia specifies the standards of drugs manufactured and marketed in India in terms of identity, purity and strength. The standards are authoritative in nature and are enforced by regulatory authorities for the quality control of medicines in India.

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