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FABA’s life sciences innovation cluster works on global partnerships to propel novel biologics & diagnostics
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Nandita Vijayasimha, Bengaluru
August 24 , 2024
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Federation of Asian Biotech Associations’ (FABA) Life Sciences Innovation Cluster is now working to strengthen the global partnerships to propel an ecosystem for novel biologics and diagnostics.
According to Chakravarthi AVPS, chairman, Federation of Pharmaceutical Entrepreneurs (FOPE), Telangana & Andhra Pradesh, advisor, international affairs, FABA, India's swift response to the Covid-19 pandemic demonstrated the country's capacity for rapid innovation and mobilisation. Global collaborations are imperative to dive the future advancements in life sciences and improving health outcomes worldwide.
Over the last two decades India has made considerable progress in biotechnology with substantial advancements in biologics, diagnostics, and biosimilars, he added.
Highlighting India’s progress in biotechnology over the past 20 years at the FABA Life Science Innovation Cluster Meet featuring the Diplomats Roundtable on ‘Global Collaborations for Promoting Life Sciences Ecosystem, Chakravarthi, noted that the bio-economy, which surpassed $100 billion in 2022, represents a significant portion of the global market and is expected to continue its rapid growth.
Frank P Talluto, Chief of the Political and Economic Section, US Department of State, deliberated on the role of US investment into Indian biotech start-ups and the knowledge exchange leading to advancements in pharmaceuticals, vaccines too.
Dr. Vishnu Vardhan Reddy, special secretary, vice chairman, and managing director, Telangana State Industrial Infrastructure Corporation, lauded Hyderabad’s growing prominence as a biotech hub, noting the influx of international companies and the state government’s focus on AI (artificial intelligence) and skilling initiatives, besides education and research.
Raja Bhanu, director general, Pharmexcil, highlighted the progress of Indian US FDA approved plants which help pharma exports achieve the $130 billion by 2030, focusing on complex generics and biosimilars. He also acknowledged challenges of IP issues and expressed optimism for continued global cooperation in the pharmaceutical industry.
Varun Mali, British Deputy Head of Mission and Head of Trade and Investment, UK said, “Medicinal and pharmaceutical products forms the second-largest category of goods imported by the UK from India. UK is a global leader in research and innovation, with substantial government investments and therefore we encourage Indian start-ups and universities to explore opportunities within the UK's robust research ecosystem.”
Mali emphasised UK's strong research base, with leading universities such as Oxford, Imperial College, and University College London making significant contributions to life sciences. He also highlighted historical achievements like the discovery of penicillin and advancements in DNA structure.
The UK remains a global leader in research and innovation, with substantial government investment in the sector. We encourage Indian startups and universities to explore opportunities within the UK's robust research ecosystem, said Mali.
Tolhah Ubaidi, Consulate General, Republic of Indonesia, discussed the strong partnership between India and Indonesia, particularly in the Asia-Pacific region, reflecting the mutual trust and collaboration between the two countries.
The roundtable discussions underscored the importance of international partnerships to drive innovation and address global health challenges. The event highlighted the growing roles of India, US, Indonesia and UK in shaping the future of biotechnology and life sciences. Also present were Marisa Gerards ambassador, Netherlands,Hillary Mcgeachy the CG of Australia, Frank Geerkens CG of Belgium, Orhan Yalman OKAN CG of Türkiye, Aref Alnuaimi CG of UAE and Alfonso Tagliaferri CG Italy who conveyed their full support to the FABA initiative in the Lifesciences space and committed to collaborate.
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