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'Time to move from 'Volume' to 'Value' leadership in Pharma market'
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IANS | 02 Jul, 2022
Let us move from 'Volume' to 'Value' leadership to capture global
pharmaceutical market, said Union Health Minister Mansukh said on
Saturday.
He told the leaders of Pharma industry that it
is time to accumulate knowledge from global best practices in research,
manufacturing and innovation and develop own models focused on
accelerating production to meet the domestic demand while increasing
global footprint.
Mandaviya was discussing India's Pharma Vision
2047 and roadmap for the Indian pharmaceutical sector with Indian
Pharmaceutical Alliance.
The session discussed the current
position of the pharma industry in India, key initiatives taken by the
Government in the last few years and collaborative steps that will help
India realize this vision.
"We already have the required man
power and brand power and Indian companies today are at an inflexion
point to capture top global positions", said Mandaviya, adding that
India has been acknowledged as pharmacy of the world based on its
generic medicines production and the volume share in global market. It
is time to move ahead and capture the top global positions based on the
value too, he stressed.
Emphasising that the Government is
committed to supporting the Pharma Companies with Industry-Friendly
policies and investor promoting ecosystem, he said, "This Government
believes in taking a holistic approach. Our policies are based on
extensive and comprehensive stakeholder consultation which provide the
basis for comprehensive, long-term and vibrant policy ecosystem".
The
government will strengthen the sector through streamlining policies and
effective schemes such as the PLI which support cutting edge research,
he said. Apart from policy front, Mandaviya also focused on the
investments in research and development, efficient manufacturing
capacities along with creating ample opportunities for innovation that
is the need of the hour now.
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