Innovate Products to meet Market Needs - Need of the Hour

The Day 2 of Bangalore Bio 2009, India's premier Biotechnology event organized by the Department of Information Technology, Biotechnology and Science & Technology, Government of Karnataka, Vision Group on Biotechnology and MM Activ Sci-Tech Communications Co saw biotech industry honchos come together to discuss on Beyond Services - Innovation Led Biopharmaceuticals.

The Session was chaired by Dr. Rashmi Barbhaiya, CEO & MD Advinus Therapeutics Pvt Ltd.

Dr. Gopal Dasika, Sr. Vice President- R&D, Actis Biologics Pvt Ltd spoke about the role of Indian companies in the manufacture and supply of drugs. He said, "Companies have been moving from process innovation towards product innovation and new models of partnership across different domains and geographies are emerging. There is a need to innovate products that meets market needs at affordable cost.” He urged the biotechnology industry to evaluate technology and the development cycle and bring innovative therapeutic products to millions of Indians and the world over at an affordable cost.

Speaking about the need for a customized solution, Dr. P. M. Murali, Managing Director, Evolva Biotech Pvt Ltd emphasized on the five core elements ie. Availability of risk capital, ability to attract talent, well established CRAMS network, willingness of National Institutions to collaborate with the industry for shared learning and attractive exit options for investors. Proper adoption of these by industry will transform Indian Biotech Landscape.

Dr. Rajeev Soni, President and COO, Premas Biotech Pvt Ltd said, “The 21st drug discovery process has a more rational approach compared to earlier years.” “He also stressed on the need for "out of the box" thinking in the face of challenges such as high costs and patenting. He called for innovation and knowledge applied in the right strategy.”