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USIBC explores healthcare tie-ups in south India
A delegation of the US-India Business Council Life Sciences Mission recently met with Dr PV Ramesh, Principal Secretary for Health in the Government of Andhra Pradesh, to discuss areas of collaboration with the government. The USIBC aims to build capacity and strategies for better health care management and innovation.
The USIBC delegation was on a four-day visit to Hyderabad, and New Delhi, to meet senior executives from Indian and foreign biotech companies, clinical research organizations besides top consulting and legal firms. It also organized a meeting with multiple industry groups including BIO (Biotechnology Industry Organization), PhRMA (Pharmaceutical Research and Manufacturers of America), ACRO (Association of Clinical Research Organizations) and the OPPI (Organization of Pharmaceutical Producers of India) sub-committee on biotechnology to discuss areas of importance to the bio-sciences industry.
The discussions focused on India’s strategic road map to capture a substantial portion of the global bio-pharmaceutical market, which is projected to be valued at $319 billion by 2020. USIBC and the State Government discussed sustainable models for health care financing and identified opportunities for USIBC’s Coalition for Healthy India to collaborate in the state’s growing school health initiatives.
Mr Greg Kalbaugh, director & counsel, USIBC & Global Intellectual Property Center (GIPC), stated, “The Life Sciences Mission was truly impressed by the strides made in the state of Andhra Pradesh. During the two-day mission in Hyderabad, our members had the opportunity to interact with government, industry and academia; and were reassured that our partnership will continue to grow on the basis of innovation, research and the need to build a strong healthcare infrastructure.”
Challenges identified during the discussions include:
The discussion also witnessed a successful dialogue between ABLE (Association of Biotechnology Led Enterprises) and the USIBC delegation. The two parties agreed to explore a Joint Working Group to work with various government agencies involved in developing guidelines for the regulation of biologics in India.