Rejith P R, Correspondent, India Pharma Outlook
Dr. Mansukh Mandaviya, Union Minister for Chemicals & Fertilizers, inaugurated 27 greenfield bulk drug park projects and 13 greenfield manufacturing plants for medical devices, last week. He pointed out the significance of medicine in society, how the pandemic has affected the supply chain and the risks associated with the dependency on the import of drugs and devices, which has resulted in the Production Linked Incentive (PLI) scheme in India. Now, the nation has minimized its dependency on medicines, APIs, and medical equipment and is also growing as a big exporter of these medical products, contributing to the economy's growth.
It is important to understand how how India's Greenfield Parks are driving the next phase of innovation in drug production.
The main agenda of the Greenfield Parks is to give higher importance to improving technology and partnerships among potential investors. On account of the flourishing pharmaceutical landscape, it is essential to bring research-based institutions, pharma firms and government departments under One-Stop-Shop, and the greenfield parks can act as a platform for all sorts of research, sharing knowledge among industry experts and technology. Undoubtedly, the alliance that occurred or will happen in the future will lead to significant advancement in the drugs and improvement in the process and technology in the pharma sector. As the pharma industry continues to grow, the collaboration among the firms and technologies will thrive, leading to the industry's overall development.
For instance, Biocon Limited is the leading player in the biopharmaceutical segment. They have partnered with global pharma firms and educational institutions to drive innovation in the drug discovery process.
With a significant number of plants inaugurated recently and considering the manufacturing process that is going to commence in the future, there will be a continuously regulated environment wherein the focus will be on utmost quality standards and compliance for the firms associated with pharmaceutical manufacturing practices. As a result, the products meet the industry standard in the pharma sector as Greenfield Parks emphasizes compliance with international regulatory needs and good manufacturing practices. Moreover, the strict monitoring practices, quality checks and assurance, and the greenfield parks will support the fame of Indian-based products on the global stage. Due to the dynamic climatic conditions and several other diseases prevailing in the market, it is crucial to have products with higher standards catering to the population's medical needs.
Cipla has made investments in state-of-the-art manufacturing facilities aimed at meeting stringent international regulatory standards. These facilities have adopted sustainable practices, demonstrating a commitment to environmental responsibility and adherence to compliance measures.
Hiren Mehta,Vice President (Clinical Affairs), Veeda Clinical Research, India said "To ensure ethical conduct and patient safety during the early phase of drug development in India, adherence to regulatory guidelines set by the Central Drugs Standard Control Organization (CDSCO) and the Drugs Controller General of India (DCGI) is crucial"
The pharmaceutical industry benefits a lot from Greenfield Parks' initiatives in the form of partnerships, research, and development. It helps firms set their presence globally, contributing to its high market reach. With almost all the facilities in the form of advanced infrastructure and world-class capabilities, these parks have become suitable destinations for manufacturing activities, partnerships among firms, and investments by potential stakeholders. The nation has to focus on bolstering manufacturing practices, which have to be cost-effective, and improving technical knowledge and compliance so that the Greenfield Parks foster access to the market in several other regions and enhance the competitiveness of India's pharmaceutical landscapes in the global space.
For example, Sun Pharmaceutical has set its manufacturing facilities in the global markets. It is designed to abide by international regulatory standards and added to the firm's expanded global footprint.
Greenfield Bulk Drug Park projects will assist the pharma industry in thriving in the economy and minimize the dependence on medicines as a huge amount has been allocated. Slowly and gradually, the nation will emerge as a major exporter of several products related to medicine with the help of the PLI scheme, which is implemented. Moreover, these activities will also lead to economic growth and increase job opportunities in this field. More importantly, it is essential to lure foreign potential investors other than domestic ones, which will improve local economies, increase revenue and eventually impact the nation's GDP. The Greenfield Parks will also act as a destination for enhancing the workforce's skills, contributing to their overall development.
Dr. Reddy's Laboratories has been proactively engaged in the formation of manufacturing facilities and research and development. The firm's global operations contribute to the economy's growth by offering job opportunities and promoting technology and revenue.
All in all, the pharmaceutical landscape will thrive at a quicker pace with immense support from the nation's Greenfield Parks. The park has become a land for newer technologies, adhering to sustainable practices and quality. Undoubtedly, they play a crucial role with their extensive cooperation with the pharma industry, which will transform drug production, contributing to economic growth. When the nation continues to use these parks, it will be positioned as a universal leader in the pharma sector, bringing positive outcomes in healthcare and benefitting millions of lives across the globe.
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