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$250 M Biopharma Mission approved by Cabinet Committee on Economic Affairs

In a landmark decision, the Indian Government approved the first ever Industry Academia Partnership Mission for accelerating discovery research to enable indigenous BioPharma product development. Biotechnology Industry Research Assistance Council (BIRAC) to implement the $250 million Mission.

By Team ABLE

After the announcement of the National Health Policy 2017 this March--which commits Health for all--the Union Government on May 18, 2017 approved the Biopharma Mission for production of indigenous affordable and accessible vaccines, biotherapeutics, and medical devices and diagnostics.

This is a $250 million Mission with $125 million coming as World Bank funding. The Mission is called I3 – “Innovate in India\" for Biopharma. It will create an ecosystem for innovative indigenous product development by Researchers, Start-ups and SMEs and make Indian Biotech industry globally competitive.

The Mission  would aid in preparing India’s technological and product development capabilities in the biopharmaceutical sector to a level that it is globally competitive over the next 10-15 years, and will transform the health standards of India’s population through affordable product development.

The Mission will provide a holistic and integrated approach to strengthen and support the entire product development value chain for accelerating the research leads to product development. This will help not only in immediate product development addressing public health needs, but will also help to create an ecosystem which will facilitate development of a continuous pipeline of products.

The Mission is expected to bring a vast social impact through improved health care products and affordable solutions. It would also have a major economic impact by increasing the market capitalization of BioPharma sector. India which today occupies only 3 percent of the Biopharmaticals Global Market aims to reach 5 percent by 2022.

This would also help in decreasing our dependency on imported biopharma products, reducing the out of pocket costs, enhancing outsourcing capabilities and ensuring an IP driven Bioeconomy, which will help us to achieve the target of $100 billion biotechnology Industry by 2025.

The Mission which is led by Department of Biotechnology (DBT), Ministry of Science & technology, Government of India will be a PAN India program involving all Stakeholders and will be implemented by the DBT’s Biotechnology Industry Research Assistance Council (BIRAC).