Latest news with #PRIP
Mint
24-06-2025
- Business
- Mint
India boost to pharma & medtech R&D with ₹5,000 cr portal
New Delhi: The Department of Pharmaceuticals has launched an online portal for a ₹ 5,000-crore scheme it says will support innovation in pharma and medical technology. PRIP, or the Promotion of Research and Innovation in Pharma MedTech Sector, promises to make it easier to submit applications to develop novel technologies in medicine, including medical devices and drugs for communicable, non-communicable diseases and rare disease. The government is concerned about the tiny levels of domestic R&D spending, compared with many other nations, despite India being a global leader in generic drug production. While the US and China spend $60 billion and $20 billion on pharmaceutical R&D respectively, India's expenditure is only around $3 billion. PRIP aims to bridge this gap and foster a culture of research and innovation in the pharma and medtech industry. The scheme has two main components. First, strengthening research infrastructure: This involves setting up Centres of Excellence (CoEs) in the seven existing National Institutes of Pharmaceutical Education & Research (NIPERs). Second, Promoting Research in Pharma & MedTech: This component offers direct financial assistance to companies and projects for both in-house R&D and academic collaborations. It covers six priority areas, including drug discovery and development, medical devices, stem cell therapy, medicines for rare diseases and treatment for drug-resistant patients. "With the PRIP portal now live, the government is making it simple for pharma companies, medtech firms, and even startups to register and elevate their research and development capabilities," explained an official. As planned under the scheme, bigger companies can seek funding of up to ₹ 125 crore while startups can secure up to ₹ 1 crore over a period of five years, based on their milestones, the official said. India's pharmaceutical market is a global force, valued at $50 billion. While domestic consumption stands at $23.5 billion, exports contribute a significant $26.5 billion. India is the world's third-largest pharmaceutical market by volume and 14th by value of production. Over half its exports reach highly developed markets like the US, EU, and Japan, which have a high threshold on quality. Sheetal Arora, promoter and CEO of Mankind Pharma, emphasized the transformative potential of the PRIP scheme. "The new PRIP portal is a game-changer for Indian pharma. This ₹ 5,000-crore investment is exactly the boost we need as we're on the verge of massive growth. India already leads the world in generic medicines, providing 20% of the global supply. But PRIP helps us shift towards innovation, potentially bringing in another ₹ 17,000 crore for R&D by FY28. This will truly sharpen our competitive edge. The timing couldn't be better. With many major drugs losing patent protection by 2030, companies that invest in new molecules and top-tier research now will be future leaders. What's most exciting is that PRIP supports both innovation and affordable healthcare.' Arora added that PRIP supports both innovation and affordable healthcare. 'This perfectly fits India's goal of being a global innovation hub while also making medicines accessible worldwide. PRIP isn't just about money; it's about empowering Indian pharma to build a strong, self-reliant future where innovation benefits everyone,' she said.
Mint
24-06-2025
- Business
- Mint
India boost to pharma & medtech R&D with ₹5,000 cr portal
New Delhi: The Department of Pharmaceuticals has launched an online portal for a ₹ 5,000-crore scheme it says will innovation in pharma and medical technology. PRIP, or the Promotion of Research and Innovation in Pharma MedTech Sector, promises to make it easier to submit applications to develop novel technologies in medicine, including medical devices and drugs for communicable, non-communicable diseases and rare disease. The government is concerned about the tiny levels of domestic R&D spending, compared with many other nations, despite India being a global leader in generic drug production. While the US and China spend $60 billion and $20 billion on pharmaceutical R&D respectively, India's expenditure is only around $3 billion. PRIP aims to bridge this gap and foster a culture of research and innovation in the pharma and medtech industry. The scheme has two main components. First, strengthening research infrastructure: This involves setting up Centres of Excellence (CoEs) in the seven existing National Institutes of Pharmaceutical Education & Research (NIPERs). Second, Promoting Research in Pharma & MedTech: This component offers direct financial assistance to companies and projects for both in-house R&D and academic collaborations. It covers six priority areas, including drug discovery and development, medical devices, stem cell therapy, medicines for rare diseases and treatment for drug-resistant patients. "With the PRIP portal now live, the government is making it simple for pharma companies, medtech firms, and even startups to register and elevate their research and development capabilities," explained an official. As planned under the scheme, bigger companies can seek funding of up to ₹ 125 crore while startups can secure up to ₹ 1 crore over a period of five years, based on their milestones, the official said. India's pharmaceutical market is a global force, valued at $50 billion. While domestic consumption stands at $23.5 billion, exports contribute a significant $26.5 billion. India is the world's third-largest pharmaceutical market by volume and 14th by value of production. Over half its exports reach highly developed markets like the US, EU, and Japan, which have a high threshold on quality. Sheetal Arora, promoter and CEO of Mankind Pharma, emphasized the transformative potential of the PRIP scheme. "The new PRIP portal is a game-changer for Indian pharma. This ₹ 5,000-crore investment is exactly the boost we need as we're on the verge of massive growth. India already leads the world in generic medicines, providing 20% of the global supply. But PRIP helps us shift towards innovation, potentially bringing in another ₹ 17,000 crore for R&D by FY28. This will truly sharpen our competitive edge. The timing couldn't be better. With many major drugs losing patent protection by 2030, companies that invest in new molecules and top-tier research now will be future leaders. What's most exciting is that PRIP supports both innovation and affordable healthcare.' Arora added that PRIP supports both innovation and affordable healthcare. 'This perfectly fits India's goal of being a global innovation hub while also making medicines accessible worldwide. PRIP isn't just about money; it's about empowering Indian pharma to build a strong, self-reliant future where innovation benefits everyone,' she said. The Indian Drug Manufacturers Association is actively encouraging its members to explore this opportunity, seeing the PRIP scheme as a significant leap forward for research and development in the country.
Economic Times
23-06-2025
- Business
- Economic Times
Go on, pop the innovation pill: ₹5,000 cr push signals India's shift from copy to create
Stir things up Rollout of the ₹5,000-cr Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) scheme signals a shift in how India approaches the sector's growth. This initiative, expected to begin disbursals by the end of 2025, could attract ₹17,000 cr in additional R&D investment. For an industry that has long been associated with generic manufacturing, this represents a paradigm shift towards innovation-led pharma world is approaching a 'patent cliff', and for Indian firms, it represents an unprecedented opportunity: 24 mega-selling drugs with combined annual sales exceeding $250 bn will lose patent protection by 2030. This means blockbuster medicines like Humira for rheumatoid arthritis, Keytruda for cancer treatment, Stelara for psoriasis, and Symbicort for asthma will soon be open for generic manufacturing. When these patents expire, drug prices fall by at least 50%. For a country where out-of-pocket (OoP) healthcare expenses are high, this holds immense significance alongside its commercial potential. Capturing these opportunities won't be easy. Indian firms will face tough competition from generics and must match the original drug standards. Success will hinge on investment in bioequivalence studies, regulatory compliance and resilient supply chains. Indian pharma companies are eyeing these opportunities. Zydus, Sun Pharma, and Bharat Serums and Vaccines (now part of Mankind Pharma) have invested in establishing world-class R&D centres, focusing on developing new chemical entities. The younger generation of scientists and entrepreneurs, bringing fresh perspectives, is accelerating the transition from a generic-focused industry to one that balances both generic excellence and innovative drug discovery. MNCs are also rethinking their view of the Indian market: Novartis, Novo Nordisk and Eli Lilly have chosen to out-license their brands to Indian firms rather than directly market them here. This trend reflects both the growing capabilities of domestic firms and the unique challenges of serving India's diverse and price-sensitive market. These partnerships benefit all. International companies can maintain a presence in India without the complexities of direct operations, while Indian firms gain access to established brands and molecules, leveraging deep market understanding and extensive distribution networks. However, building these relationships requires investment in compliance systems, quality infrastructure, and continuous capability upgrades to meet the exacting standards of international positives in the sector include: Exemption of 36 life-saving drugs from basic customs duty will benefit companies bringing in innovative medicines. Drugs like AstraZeneca's Selumetinib, Pfizer's Lorlatinib, Novartis' Ribociclib, and GSK's Mepolizumab will now be more affordable. Additionally, six more life-saving medicines have been added to the concessional 5% duty slab, primarily targeting cancer, rare diseases and other chronic conditions. The health budget has risen to over ₹95,000 cr for FY26, up 9.46%. More than a numbers game, it's about building a healthcare ecosystem fit for our vast population. 15,479 Jan Aushadhi Kendras provide generic medicines at prices up to 80% lower than branded equivalents. A heart medicine that once cost ₹500 is available for ₹100, bringing essential treatments within reach of ordinary citizens. Yet, ensuring consistent quality and maintaining reliable supply chains remain a challenge. Extension of PM Ayushman Yojana to people above 70 years creates a virtuous cycle - more people seeking treatment drives demand for medicines, which, in turn, encourages pharma companies to invest in better products and wider distribution. Development of healthcare infra in tier-2 and tier-3 cities is also helping. However, attracting and retaining qualified medical professionals in these locations remains a hurdle, requiring innovative approaches to compensation, career development and quality-of-life considerations. Again, the market for pharma products will, then, be able to expand. A 'nutraceutical revolution' is underway. With the market expected to grow from $4 bn in 2020 to $18 bn by December, nutraceuticals represent a significant growth avenue for companies willing to invest in quality and innovation. The convergence of multiple factors - patent opportunities, GoI support, infrastructure development and changing consumer behaviour - is creating unprecedented opportunities for the sector. Companies that embrace innovation, while maintaining traditional strengths in affordable healthcare delivery, will thrive. The writer is CEO, Mankind Pharma (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Second only to L&T, but controversies may weaken this infra powerhouse's growth story Looking for quick buck in unlisted shares? Better think twice! How Vedanta's Anil Agarwal bettered Warren Buffett in returns Rivers are moving more goods than before. But why aren't they making a splash yet? Stock Radar: Supreme Industries stock down by about 30%! 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Yahoo
30-05-2025
- Business
- Yahoo
Fantasy 5 winners: West Palm, Boca Raton markets sell winning Florida Lottery tickets
A supermarket in suburban West Palm Beach and a mini-mart in Boca Raton sold winning tickets in the May 29 evening Fantasy 5 drawing, the Florida Lottery said. The winning tickets bore the number combination of 4-11-23-29-32 and paid $36,872.43 each. The West Palm Beach-area supermarket was the Presidente at Okeechobee Boulevard and Military Trail. The Boca Raton mini-mart was the PRIP market on West Camino Real, just west of South Dixie Highway. The winner sold at Presidente was a Quick Pick, meaning the lottery's computers chose the number combination for the player. The third winning ticket was sold at a Publix super market in Spring Hill, north of Tampa. Tom Elia is an editor at The Palm Beach Post, overseeing coverage of public safety, the courts and Palm Beach County's northern and western communities. You can reach him at telia@ Support local journalism: Subscribe today. This article originally appeared on Palm Beach Post: Fantasy 5: West Palm, Boca Raton markets sell winning tickets
Business Standard
06-05-2025
- Business
- Business Standard
Premas Life Sciences and Sphere Bio Unite to Advance Single-Cell Research in South Asia
India PR Distribution New Delhi [India], May 6: Premas Life Sciences Pvt. Ltd. (PLS), a pioneering enabler of life science innovations in India, has announced a strategic collaboration with Sphere Bio, a global leader in picodroplet-based microfluidic technologies for functional single-cell analysis. This partnership represents a significant leap in bringing transformative, next-generation platforms to scientists and researchers in India and Bangladesh. The collaboration is rooted in a shared vision: empowering biopharma, biotech, and academic communities with cutting-edge tools that accelerate discovery and drive impactful science. With this alliance, Premas will bring Sphere Bio's high-performance solutions - including their flagship Cyto-Mine® platform and a growing assay portfolio - closer to researchers in South Asia, supported by localized technical expertise and seamless implementation support. Sphere Bio, formerly known as Sphere Fluidics, is widely recognized for its innovations in single-cell and picodroplet microfluidics. Their technologies enable ultra-high-throughput analysis, sorting, and isolation of individual cells - critical for applications such as antibody discovery, cell line development, and advanced cell therapy research. These platforms are currently used by leading pharma companies and research institutions around the world to enhance the speed and accuracy of biologic development. For Premas Life Sciences, this partnership is a natural extension of its mission to democratize access to advanced life science tools. Over the last 18 years, PLS has built a strong legacy of introducing globally benchmarked technologies to India's scientific ecosystem - spanning genomics, proteomics, bioinformatics, and diagnostics. Their ability to not only introduce but also embed technologies through technical training, application support, and long-term scientific partnerships makes them uniquely positioned to amplify the impact of Sphere Bio's offerings. "India is entering a new era of biomedical innovation, with increased investments in biosimilars, vaccines, and cell and gene therapies. This collaboration with Sphere Bio allows us to deliver the kind of scientific capabilities that can transform how research is done in this region--faster, more precisely, and with greater reproducibility. With the government's strong push through initiatives like the Bio-E3 policy, PRIP scheme, and its vision for bio foundries, we believe technologies like Sphere Bio's Cyto-Mine® will play a crucial role in accelerating antibody discovery and cell line development, further strengthening the 'Made in India' biotech ecosystem. We're excited to co-create a future where access to such platforms is not a barrier but a baseline." said Praveen Gupta, Managing Director of Premas Life Sciences. Sphere Bio echoed this optimism. "We see South Asia as a region with enormous scientific potential. Our partnership with Premas is about more than market access - it's about long-term impact. Premas brings deep local understanding, technical know-how, and a genuine commitment to enabling discovery. Together, we aim to catalyse the next wave of breakthroughs in biologics and personalized medicine." said Dale Levitzke, CEO of Sphere Bio "Our partnership with Premas Life Sciences is a key milestone in our mission to make cutting-edge single-cell technologies more accessible across the APAC region. India and Bangladesh represent rapidly growing innovation hubs, and we see immense potential in empowering local researchers with tools that meet global standards. Premas brings deep market understanding, strong scientific engagement, and a track record of successful technology integration--making them an ideal partner to drive regional adoption and impact." said Jay Manikandan, VP Commercial (APAC), Sphere Bio This alliance comes at a pivotal time, as the biotech landscape in India and Bangladesh rapidly evolves with government backing, rising R & D investment, and a growing scientific workforce. As demand for next-gen therapeutics increases, so does the need for high-resolution, scalable tools--precisely what Sphere Bio delivers. Together, Premas and Sphere Bio are building a scientific bridge between global innovation and regional potential. Beyond product access, the partnership offers localized support, training, and tailored solutions aligned with international standards. It sets a new benchmark for how advanced technologies can be effectively introduced and scaled in emerging biotech markets.
