Next Steps of Pharma Innovation: Affordable Meds, Addressing AMR, and India for World "Every fourth tablet consumed globally is made in India. We have come a long way in producing affordable, high-quality medicines for the world," said Rajeev Juneja, VC and MD, Mankind Pharma
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With India's healthcare market rapidly growing, the collaboration between the public and private sectors is essential to ensure healthcare is accessible, affordable, and of high quality, said Madhukar Kumar Bhagat, Joint Secretary, Union Ministry of Health and Family Welfare, Government of India at the 21st Indo-US Economic Summit.
He highlighted the need for partnerships to address gaps where private healthcare might not reach, especially in rural areas. "If I talk about rural areas, corporate hospitals will not be able to operate there in the near future. This is where the government has to step in," Bhagat said.
He further stressed the importance of collaboration to achieve four key pillars: availability, affordability, access, and quality of healthcare. "The whole vision of 'Vikshit Bharat' (Developed India) is people-centric. Healthcare is vital as it affects the most important resource of all – people," Bhagat added.
Additionally, the government is focusing on technological advancements, such as Artificial Intelligence (AI), to improve healthcare services across the country. "There's an expectation from the government to aid in cutting-edge research, which we are already doing, especially in AI," he said.
India: The Mother of Affordable Medicines
Rajeev Juneja, Vice Chairman and Managing Director of Mankind Pharma, shared about the crucial role Indian pharmaceutical companies are playing in the global healthcare space. "Every fourth tablet consumed globally is made in India. We have come a long way in producing affordable, high-quality medicines for the world," he emphasised.
However, Juneja pointed out that while India has made significant strides, there is still a long way to go. "The journey ahead requires consistent R&D, especially in areas like cancer treatments, and the removal of regulatory hurdles. The good news is that the government is listening and incentivizing innovation," he added.
Further adding to this, Dr. Shefali Misra, Group Vice President of Public Policy & Government Affairs at Biocon Group, emphasized, "We started with generics, but today, as the world moves towards biosimilars and biologics, which are often unaffordable, India has committed to developing and manufacturing these treatments. Indian pharma companies like ours are working hard to meet global healthcare needs," she said.
Need Investment and Innovation in Antimicrobial Resistance (AMR)
Another critical issue that we need to address is antimicrobial resistance (AMR)--antimicrobial resistance happens when germs, bacteria and fungi develop the ability to defeat the drugs designed to kill them.
Highlighting the issue, Dr. Sangeeta Sharma, Professor and Head of Neuropsychopharmacology at the Institute of Human Behaviour & Allied Sciences (IHBAS), said there was a need for innovation and investment to combat AMR. "The pipeline for new antibiotics has been running dry for decades. We need investments in new diagnostic tools and antibiotics while also ensuring the preservation of existing ones," Dr. Sharma said.
Further, she urged industries to work together to raise awareness and improve surveillance, especially with the help of modern technologies such as AI. "Quality control is essential. Poor-quality antibiotics fuel resistance. We need innovations like point-of-care testing to ensure drug quality," Dr. Sharma added.
India Beyond Borders
The Indian pharmaceutical industry is a major drug manufacturer globally, with exports of drugs and pharmaceuticals amounting to USD 25.4 billion in FY23, projected to exceed USD 31 billion in the next financial year.
While highlighting India's efforts toward affordable and quality healthcare, Genessa Giorgi, Health Attaché at the U.S. Embassy, emphasized India's global initiatives and its partnership with the United Nations. She called for a global push toward healthcare innovation, stating, "By prioritizing healthcare, investing in innovation, and fostering partnerships, we can create a prosperous and healthy society, not just for India and the U.S., but for the entire globe."
In the near future, India will be witnessing a pool of pharma and biotech startups, significant investment in R&D and AI-based pharma IT hubs.
