SENSEX NIFTY
Sep 22, 2011, 07.52 AM IST | Source: CNBC-TV18

Red tapism hurting biotechnology industry in India: Shaw

Expressing concerns over the bureaucratic bottlenecks involved in conducting clinical research and trials in biotechnology sector in India, the industry experts today appealed to the regulatory authorities to stick to the "rule book" rather than "subjectivity".

India Business Hour

Excerpts from India Business Hour on CNBC-TV18 Watch the full show »

Expressing concerns over the bureaucratic bottlenecks involved in conducting clinical research and trials in biotechnology sector in India, the industry experts today appealed to the regulatory authorities to stick to the "rule book" rather than "subjectivity".

Yesterday, in a strongly worded letter, commerce minister Anand Sharma shot off a letter to prime minister Manmohan Singh where he criticized the delay in the recommendations of the Maira Committee on foreign direct investment (FDI) in the pharma sector.

On FDI in pharma, Shaw says, This is a sector that is growing and that attracts investment. Any measures to restrict FDI flow will be a regressive step and you will devalue this sector. This is a sector which is very well valued; it is a good growth driver for Indias economic future."

According to Kiran Mazumdar Shaw, Chairman and Managing Director of Biocon, the delays and repeated approvals involving clinical trials are hurting the industry in terms of investment overruns and time.

"The way the trial approvals are given, it does not mirror what is happening in other parts of the world. For every protocol change, we need to seek new approval. So as a result trial which requires x amount and time is going up by three to four times. Many companies feel that it is not optimal to do these studies in India because time is money,"

Shaw told media persons here. She was speaking on the sidelines of the second annual meeting of the US and Indian Biotechnology industry heads at the BIO India International here. Shaw said the trend was a big concern for the industry and the regulatory authorities need to go by the rules rather
than subjectivity.

"Suddenly some NGO makes an issue and the authorities go by that," she added. "This puts lot of question marks. We are doing things as per regulation and ethical standards as expected of us. But there is no reciprocity from the regulatory authorities when it comes to things when there are issues then they go by subjectivity," Shaw said.

Asserting that the future economic growth will stem from the biotechnology industry next to IT and Pharma, she said the country has basic ingredients to make this happen. The delegates agreed upon that lack of clarity and consistency in clinical trials and regulations is a significant barrier to research and development, commercialisation and investment for both innovative and generic medicines in India, which in turn impacts the availability of important therapies for patients.

for more...

ADS BY GOOGLE

video of the day

Rules of stock-picking: Perils of becoming a fund manager

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.