India Aims for Rs 17,000 Crore Investment in Pharma R&D by FY28

India expects almost ?17,000 crore for the pharmaceutical research and development (R&D) in the period up to FY28, focusing on cancer research, lifestyle disease prevention, medical technology, orphan drugs, and new chemical development.

The projection came in the wake of the ?5,000-crore scheme for promotion of research and innovation in the pharma and MedTech sector (PRIP), tailored to place India at the leadership of R&D in the global landscape.

The first disbursements are expected by the end of this year. The government plans to give support to selected projects through equity acquisition or milestone-based funding. It has issued an EoI, which initially set April 7 as the deadline for collecting feedback from stakeholders. The selection of projects is expected to close by late April or early May, with the disbursements expected within six months after that.

Out of the ?5,000 crore allocated, ?4,250 crore would go directly into supporting the R&D ecosystem to facilitate the launch of at least 30 new products or technologies by FY28. Government has undertaken national roadshows and stakeholder consultations for wider participation in the scheme.

A significant element of the scheme is the setting up of Centers of Excellence (CoEs) at the National Institutes of Pharmaceutical Education and Research (NIPERs) to be launched with a ?700 crore allocation. These centers will be set up in Mohali, Ahmedabad, Hajipur, Hyderabad, Kolkata, Guwahati, and Rae Bareli and will deal in areas such as antiviral drug development, biotherapeutics, and novel drug discovery.

The other pillar of the initiative is about promoting advanced research in six priority areas; new chemical and biological entities; complex generics; precision medicine; orphan drugs; antimicrobial resistance; and advanced medical technology.  Support for funding collaborations includes pharma company and academia, market-ready innovations and early-stage R&D for startups and MSMEs.

The PRIP Scheme will build upon structured funding and targeted investments to further boost India's place as a global pharmaceutical innovation hub and strengthen the collaboration between academia and industry.