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  • India needs to invest...

India needs to invest more in research to create better ecosystem: Biocon Chief Kiran Mazumdar-Shaw

Ruchika SharmaWritten by Ruchika Sharma Published On 2022-02-11T12:59:07+05:30  |  Updated On 11 Feb 2022 12:59 PM IST
India needs to invest more in research to create better ecosystem: Biocon Chief Kiran Mazumdar-Shaw
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New Delhi: India needs to incentivize industries to invest more in academic research for creating a better ecosystem of research and innovation, Biocon chairperson Kiran Mazumdar-Shaw said on Wednesday.

Kiran Mazumdar-Shaw is a first-generation entrepreneur and global business leader with over 4 decades of experience in biotechnology which she started in 1978 from her garage in India.

Speaking at a book launch event organised by the Centre for Social and Economic Progress (CSEP), Mazumdar-Shaw further said as the government has come up with incentives for production, it should also come up with incentives for research.

"India needs to incentivize industries to invest more in academic research to create a better ecosystem of research and innovation".

Read also: Biocon arm gets DCGI nod to initiate clinical study for Itolizumab

Speaking at the event, former Niti Aayog Vice-Chairman Arvind Panagariya said due to economic reforms India's growth accelerated from 3 per cent (before liberalisation) to 7-8 per cent.

Former deputy chairman of erstwhile Planning Commission Montek Singh Ahluwalia said the difference between 1991 and now is that in 1991, there was a global consensus on what to do.

Read also: Biocon arm bags USFDA approval for Posaconazole Delayed-Release tablets

"We (India) were the only odd guys out. But today, that consensus has more or less disappeared," Ahluwalia said.

"He said there is this view that digitalisation is creating so much power on the part of the big guys to mine data, that the whole idea that markets lead to rational allocations in the light of consumer decision-making is totally undermined," reports PTI.

Read also:Biocon listed on Dow Jones Sustainability Emerging Markets Index

Biocon Biologics has a platform of 28 biosimilar molecules across diabetes, oncology, immunology, dermatology, ophthalmology, neurology, rheumatology and inflammatory diseases.

Five molecules from Biocon Biologics' portfolio have been taken from lab to market, of which three have been commercialized in developed markets like United States, EU, Australia, Canada and Japan.

bioconbiocon newskiran mazumdar shawinvestment
Source : with agency inputs
Ruchika Sharma
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

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