Life Sciences Conclave 2019 was organised by the Confederation of Indian Industry (CII) in partnership with the Department of Biotechnology, Ministry of Science and Technology, and Department of Pharmaceuticals, Ministry of Chemicals and Fertilisers in Mumbai on September 17, 2019. The conclave was attended by senior industry stakeholders and policymakers who discussed and deliberated on the current challenges and opportunities that the life sciences sector in India faces.
The event also marked the release of ‘The India Life Sciences Report’ by CII along with Bain & Company. The report includes an exhaustive survey of over 300 doctors practising across India to better understand their challenges and empower them with new disease management tools and patient-related data.
The attendees were welcomed by Satish Reddy, Chairman – CII Life Science Conclave 2019, Chairman – Dr Reddy’s Laboratories and a co-author of the report who said, “The Indian Life sciences sector exports to over 190 countries across the globe – and is today renowned for not just its affordability but also its high standards of quality. Now, the future beckons – while opportunities abound, we need to keep innovating to retain our competitive edge and stay relevant to the growing demands of the human race. It is time to scale new heights of complexity, quality and affordability.”
Commenting on how the Indian pharma industry can contribute to this upward trajectory, Dr Pallavi Darade, Commissioner FDA Maharashtra stated in her keynote address, “Pharma industry should be aligned with the consumer and the government for better and sustained growth in the future. Indians know their people and their markets better than anyone in the world. They should be able to hold the Indian markets and capture the world market. Initiatives such as Ayushman Bharat is a great opportunity for pharma and biopharma industry in India”.
Niclas Jacobson, Deputy Director- General and Head of the Division for EU and International Affairs, Ministry of Health and Social Affairs, Sweden also addressed the gathering and spoke about how the two countries can benefit from the collaborations that they have entered to support the life sciences sector in both India and Sweden, “The MoU signed between the two countries has enabled Swedish and Indian organisations to work together to create a conducive environment for technology sharing and coming up with innovative healthcare solutions in India. We are now taking stock of the experiences gathered from the last ten years and are developing and deepening our cooperation for the future.”
The event hosted six panel discussions dealing with a variety of pressing topics. The first one, ‘Being future-ready: Tapping into the next wave of pharma growth’ witnessed top industry leaders examine the factors which will influence the Indian pharma industry’s growth in the future. The panellists agreed that innovation is indeed the key that will help the industry unlock its growth potential in the coming years, and that both the manufacturers and the government need to take the necessary steps in this direction.
Further panel discussions were themed as: ‘Indian biopharma: Reforms Boosting Bio-Economy’, ‘Pulse of Public Health-Indian Vaccine Industry: Drivers of Growth’, ‘Can India become The Global Hub for API Manufacturing: How to fulfil’, ‘Powering the growth of the life sciences industry’ and ‘Private equity and M&A as a catalyst for growth’.
CII’s Pharmaceutical and Biotechnology Committee acts as an enabler to foster the growth opportunities in the sector and together work on the various issues with the stakeholders to stay innovation-driven, globally quality-compliant and position India as a biotechnology hub.