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Drug discovery: India offers value partnership to US firms
Tuesday, 08 June 2004, 19:30 IST
SAN FRANCISCO: India is keen on developing a "value partnership" in drug research with US firms, with assurances of patent protection and single window clearances for biotech products, a leading entrepreneur has said.
"Relationship building through contract services is a prelude to partnership in discovery research," said Hari Bhartia, managing director of Jubilant Organosys, who is heading an Indian biotech delegation to the US.
"Once the initial comfort level is achieved between two partners, the partnership grows and moves to a higher level with more value-addition and bigger stakes."
Bhartia was speaking at a session on "The way ahead for partnerships with Indian biotech" joinly organised by Confederation of Indian Industry, the consulate general of India in San Francisco, Enterprising Pharmaceutical Professionals from the Indian Subcontinent and The Indus Entrepreneur.
Over 140 delegates, including non-resident Indian biotech entrepreneurs in the Bay area, attended the session.
M.K. Bhan, secretary in biotechnology department, said a silent transformation of institutions had been going on in India over the past five years.
"The government is taking several initiatives to create and facilitate an environment of innovation and research culture in the country," said Bhan, reaffirming the new government's commitment to protection of intellectual property rights.
Bhan highlighted the Indian government's plans to put in place a single window system for biotech products while emphasising the need for hiring professionals and experts.
"The value arbitrage is more important than the cost arbitrage that the US companies get when they partner with Indian companies in drug discovery and development," said Kiran Mazumdar Shaw, managing director of Biocon India Limited.
Shaw noted there were tremendous opportunities for co-development and Indian companies were now ready to be true partners by bringing value and intellectual capital.
To the Indian industry's query on what would drive the Silicon Valley investor to India, Bruce Jenett, head of life sciences at Heller Ehrmann, said it could be ascribed to the "fud" factor - fear, uncertainty and doubt.
"The ability of accelerating the success of good and the demise of a bad lead molecule is what differentiates a successful company from an unsuccessful one. It all boils down to time and money.
"It is in this endeavour that a partnership with Indian companies brings in a value proposition," he said.
Source: IANS
Source: IANS