Innovation in the Biotech Sector: Kiran Mazumdar-Shaw's Vision for the Future
Biotech Sector Needs Innovation-Driven Value Creation
In a recent address at the Global Bio-India 2024 event, Kiran Mazumdar-Shaw, Chairperson of Biocon, stressed the necessity for greater investment in the biotech sector to drive innovation and cultivate a culture of intellectual property. India, already recognized as the world's largest exporter of generic drugs, can transform its pharmaceutical landscape by placing more emphasis on research and development.
The Future of Biotechnology in India
- India ranks 14th in global pharmaceutical value.
- Investing in R&D is crucial for capturing more market value.
- Biosciences are revolutionizing healthcare and agriculture.
Mazumdar-Shaw remarked, “Biology is the new frontier pushing human boundaries.” With initiatives like VIGYAN Dhara, the focus is on promoting fundamental research and innovation. India holds a prime position as a future leader in biosciences and aims to ensure global food security through biotech.
In terms of production, India is the third-largest manufacturer of medicines globally, with one in three pills used in the USA produced locally. This highlights the massive scale of India's pharmaceutical capabilities and its potential to define the future of the biotech sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.