India, Nov 30 : Pharmaceutical sector is accelerating its transition from a generics-dominated industry to an innovation driven ecosystem, with increasing focus on biosimilars, peptides, complex generics, and next-generation biologics.
“This transition is being accelerated by government and CDSCO reforms such as streamlined approvals, reduced regulatory layers, decriminalisation of non-serious offences, and the recommendation of R&D projects worth ₹5,000 crore,” said Dr. R. Chandrashekar, Joint Drugs Controller, Central Drugs Standard Control Organisation (CDSCO).
With these measures, he said, India is positioned to evolve from being the pharmacy of the world to an innovation-led pharma nation over the next five years.
Namit Joshi, Chairman of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), echoed the sentiment, noting that the global pharmaceutical landscape is undergoing a major transformation.
“To remain the pharmacy of the world, India must move beyond its traditional generics mindset,” he said.
The future of the sector lies in value driven innovation, including advancements in peptides, complex generics, biosimilars, biologics, targeted drug delivery systems, and cell and gene therapies, Joshi added while speaking at the 18th edition of CPHI & PMEC India, organised by Informa Markets in India.