India is developing a comprehensive support scheme for bulk drugs focused on research and development and capacity creation, according to Pharmaceuticals Secretary V K Joshi in an interview with Business Standard. The proposed scheme would go beyond the production-linked incentive (PLI) approach to focus on long-term capacity creation, research and development, and stronger academia-industry partnerships. As reported by Business Standard, the framework would provide a longer implementation window for companies setting up facilities and more flexible support for product development.
India's pharmaceutical industry has demonstrated resilience despite geopolitical tensions in West Asia, according to Joshi's statements to Business Standard. While there were initial shortages of some solvents and active pharmaceutical ingredients (APIs), supplies have since stabilised. Supplies of methanol, ammonia and propylene — critical inputs in manufacturing isopropyl alcohol and other pharmaceutical products — have normalised. However, higher crude and petrochemical prices have increased manufacturing, packaging and transport costs across the industry.
Raw material costs for some medicines have risen by 20 to 30 per cent due to higher input costs, as reported by Business Standard. Despite these increases, the industry has absorbed the cost increase so far. The Centre is not considering any emergency, across-the-board hike in medicine prices, according to Joshi's statements. However, a few cases involving exceptional input-cost inflation are being examined individually by the government.
Several major pharma initiatives are progressing through various stages, as reported by Business Standard. The ₹10,000-crore Mission Biopharma Shakti is moving through the approval process, while 22 projects worth about ₹720 crore have already been sanctioned under the Promotion of Research and Innovation in Pharma MedTech sector (PRIP) scheme. Additionally, consultations are under way on revising the medical devices global tender exemption list, and the government wants greater utilisation of its pharma technology upgradation scheme by micro, small, and medium enterprises (MSMEs).
