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

Written by Ruchika Sharma Published On 21 Jan 2023 6:45 AM | Updated On 21 Jan 2023 6:45 AM

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.

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.

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.

Read also: COVID intranasal vaccine: Bharat Biotech iNCOVACC priced at Rs 800 for private hospitals, Rs 325 for Govt

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.

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.

Bharat BiotechBharat Biotech newsDr Krishna Ellaresearch linked incentivesDr V G SomaniDCGI

Source : PTI

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751