|
CRDMOs in India to create local supply eco-system, asserts itself as a bio-pharma sourcing powerhouse
|
|
Nandita Vijayasimha, Bengaluru
December 28 , 2023
|
|
|
India's contract research development and manufacturing organizations (CRDMOs) in 2023 have taken a decisive step to create a local supply eco-system. While this process will take time, the beginning has been made, said Sibaji Biswas, CFO, Syngene International.
Despite the surge in global interest to position India at the core of the global pharmaceutical supply chain, the country’s dependency on China for sourcing raw materials remains an issue. Overcoming this challenge necessitates a collaborative effort between the industry and government to foster self-reliance. Now as India stands on the verge of asserting itself as a sourcing powerhouse, it is imperative to navigate this challenge, Biswas said.
One significant catalyst accelerating this shift is also likely to be the Inflation Reduction Act in the US. This initiative aims to control drug prices, compelling pharmaceutical companies to scrutinize their budgets closely. The pressure to reduce the time and cost of drug discovery is prompting a global search for outsourcing partners. India is reinforcing its position as a skill-rich, cost-effective alternative. The industry's response to this changing dynamic showcases resilience and an ability to adapt to global shifts in pharmaceutical dynamics, Biswas told Pharmabiz.
India in 2023 has stepped to become part of the global supply chain for innovative drug discovery, development, and manufacturing. The strategic intent was to reduce reliance on China and establish India as an alternative sourcing hub to complement China.
This transformative journey had its share of challenges. The biotech funding landscape experienced a downturn in 2023, impacting the research activities of CRDMOs. Despite this setback, optimism prevailed as funding gradually rebounded to the pre-pandemic levels. This signals not just a financial recovery but an underlying confidence in the revival of the biotech sector, a crucial component of the pharmaceutical eco-system, said Biswas.
The CRDMO industry in 2024, anticipates growth driven by partnerships with large clients. This will compensate the temporary challenges posed by the slowdown in the emerging and small biotech sector. Contract manufacturing, especially late-stage clinical and commercial manufacturing, is also seeing good demand traction and will be the other pillar of growth. With this positive outlook, Syngene stands committed to its expansion plans. Our investments in the coming year will be across the business, especially in Hyderabad, where it has recently acquired land adjacent to its current facility to further innovative drug research in India, he said.
Pharma industry is necessitating a shift from a cost arbitrage-led to an intellectual arbitrage-led market. India's transition from a generic's powerhouse to an innovative drug discovery hub demands a paradigm shift in entrepreneurial efforts, skill development and government support, he said.
India is poised to play a pivotal role in shaping the global pharmaceutical future. artificial intelligence (AI) is gradually transforming drug discovery Syngene leads the space with specialized AI tools, Syn.AI and Sarchitect, streamlining the identification of drug targets and candidates using Big Data. As we enter 2024, the pharmaceutical industry witnesses changes not only in supply chains and manufacturing trends but also in implementing technologies. The integration of AI and ML will not only enhance enterprise efficiency but also propel scientific advancements, positioning these technologies as catalysts for future growth for the industry, said Biswas.
|
|
|
|
|
|
|
|
TOPICS
|
That foods might provide therapeutic benefits is clearly not a new concept. ...
|
|
|
|
|