| |JULY 20248PLI SCHEME TO BOLSTER DOMESTIC MANUFACTURING IN INDIA'S PHARMA SECTORSURGENCE & MAYO CLINIC PARTNER TO INNOVATE HEALTHCARE SUPPLY CHAINIndia's Production Linked Incentive (PLI) program has prompted significant investments in the pharmaceutical industry with the intention of strengthening domestic manufacturing and decreasing import dependence, as per the data from the Department of Pharmaceuticals (DoP).The government stated that the sector attracted Rs. 29,268 crore to diversify the pharmaceutical base and increase production capacities. In May, ventures totalled Rs. 940 crore, denoting a 3.32 percent expansion from April 2024's Rs. 28,328 crore. May saw a 12.3 percent increase in production, reaching Rs. 1,61,209 crore, up from Rs. 1,43,553 crore in the previous month.Employment under the PLI for drugs rised by 20 percent, reaching 71,763 people in comparison with April's 59,768, with 261 manufacturing locations commissioned by May 2024, the public authority information showed. Investment in the bulk drugs sector increased to Rs. 3,737.33 crore, down from 3,715 crore in April. At Rs, production increased by 10.3 percent. 1,067.45 crore in May, with business becoming by 19 percent to 3,565 positions contrasted with 2,994 in April. The fragment presently flaunts 31 authorized projects.The Medical Devices industry also received Rs. 958.72 crore in investments improving production capacity to Rs. 5,986.56 crore. The sector became a hub for technology and innovation by the establishment of 17 new manufacturing facilities, which employed 5,396 people."The success of the PLI scheme extends beyond financial investments, with strategic implications for India's pharmaceutical industry," noted Dr. Vivek Desai, Founder & Managing Director of HOSMAC. "Reducing reliance on medical technology imports and boosting domestic production is vital as we head towards the Union Budget 2024-25," he said. POSurgence, a cloud-based digital platform developed by Concordance Innovations, a wholly owned subsidiary of Concordance Healthcare Solutions, has announced a collaboration with Mayo Clinic to integrate Surgence into their digital supply chain, improving the Surgence platform.A solid healthcare supply chain is essential for enterprises providing a high-value and resilient network of care. Concordance Innovations set out on a digital adventure to deliver Surgence to the industry, with the purpose of integrating trading partners' supply chains via a secure, agnostic, cloud-based platform. Surgence's flexible data connections enable near-real-time visibility upstream and downstream, allowing for better informed, proactive decision making. From order management to predictive forecasting, alerts and workflows are built in applications to link insights with actions that simplify decisions and unlock value that organizations have previously been unable to handle."We are incredibly honored to collaborate with Mayo Clinic to build a thriving ecosystem leveraging the power of flexible software and industry expertise. Utilizing the expertise of the Mayo Clinic supply chain coupled with the power of Surgence, we are able to transform massive amounts of disparate data into actionable information and alerts to continue our journey of an agnostic, industry-wide, near real-time digital ecosystem. Together we are seeking to use data and analytics to maximize the value of the healthcare supply chain and ultimately improve patient care," said Lisa Hohman, CEO, Concordance Healthcare Solutions. "Our teams aim to advance what is possible in the healthcare supply chain for the betterment of our entire industry," said Cody Fisher, president, Concordance Innovations. PO
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