Beginning his address, he informed the audience that India exported $24.4 billion worth of drugs to different countries with 18 per cent growth rate in FY2021. In addition, the scientists of India have played a crucial role, particularly in the development of indigenous vaccines during the COVID-19 pandemic. Mentioning about the efforts made during the development of a formulation, he said that people are coming up with different kinds of formulations. For instance, Zydus is coming up with a needleless vaccine, as well as there have been development from sustained release to transdermal patches, nasal vaccines, etc.
He highlighted that the world is moving in a different direction and it is also thinking about developing the complex generics as well as the biosimilars. Bisosimilars is the area where scientists are seriously working. Thus, the future of the pharmaceutical industry depends upon the Novel Drug Delivery System (NDDS). The role of the scientists who are working in the industry is much valued, he emphasised.
He also said that India is known for producing quality generic medicines at an affordable price. However, the country needs to shift its focus to develop new formulations and new drug delivery systems and complex generics and innovation and research, particularly the role of the scientists who are working in the formulation development and drug delivery. He further stated that the Indian pharma industry and its scientists have surprised the world by developing two indegeneous vaccines on their own. This shows that India is not only capable of producing generics, but is also capable of manufacturing vaccines and providing new drug delivery systems to the world.