Bharat Biotech founder Dr Krishna Ella bats for incentives, tax breaks for patented products, innovation

Queried about the need for three doses of the COVID-19 vaccine instead of just one, Ella said his company was working on the issue.

Published On 2023-01-21 06:45 GMT   |   Update On 2023-01-21 06:45 GMT
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Nagpur: Bharat Biotech founder Dr Krishna Ella has batted for "research linked incentives" and tax breaks for new products based on breakthrough and patented innovation done within the country. He was speaking to reporters on the sidelines of the 72nd Indian Pharmaceutical Conference underway here.

"Research-linked incentive for Indian companies is very important. I would request the ministry to give tax breaks to any product that is created from patent filed in India. It will inspire entrepreneurs to go for innovation," he said.
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Speaking at the 72nd IPC in Nagpur earlier in the day, Drugs Controller General of India Dr V G Somani had said the Centre was all set to introduce a research-linked incentive programme shaped on the lines of the production-linked incentive (PLI) scheme to boost research and development of biotech products in the country.
Queried about the need for three doses of the COVID-19 vaccine instead of just one, Ella said his company was working on the issue.
The three-day Indian Pharmaceutical Congress will cover various issues related to the sector, academia, and community pharmacy and will be attended by delegates from India and abroad.

Read also: Bharat Biotech partner Ocugen announces positive top-line data for COVID vaccine Covaxin

Bharat Biotech International Limited is an Indian multinational biotechnology company headquartered in Genome Valley, Turakapally, Hyderabad. The company was founded by Krishna Ella in 1996.

It is engaged in the drug discovery, drug development, manufacture of vaccines, bio-therapeutics, pharmaceuticals and health care products.

Read also: Bharat Biotech, Biological E together hold about 250 million COVID vaccine doses

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Article Source : PTI

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