How pharma giants are investing heavily in R&D to develop patient-friendly drugs | Health Biotech, Cipla & More

Leading pharmaceutical companies have understood the importance of tech integration, as they redefine strategies by allocating more funds towards R&D. Particularly, players like Sun Pharma, Lupin, Glenmark Pharmaceuticals, and Parmjit Arora’s Health Biotech are investing heavily in Research and Development to trigger renewed growth.

Developing a patient-friendly drug is a long and complex procedure involving a rapid pace of scientific advancements to understand the diseases at the molecular level. Since it’s a time-consuming process that passes through scientific, technical, and regulatory challenges, it becomes crucial for drug development companies to focus on their R&D for minimizing the risk of failure.

In June 2021, the government announced an outlay of Rs. 1,97,000 crore in the sector that will be utilized over five years under the PLI scheme in 13 key sectors such as active pharmaceutical ingredients, drug intermediaries, etc., in order to boost India’s pharmaceutical industry.

At this juncture, leading Pharmas like Cipla, Emcure, Arvind Vasudeva-led Aurobindo, and Parmjit Arora Health Biotech is expected to meet the rising demand.

Health Biotech Limited, in particular, has taken a leap ahead by introducing the latest R&D in their drugs, integrating technologies like Lyophilization, 3D printing, and mHealth sensors.

The Indian Economic Survey 2021 has estimated that India’s domestic pharmaceutical market is growing exponentially and is likely to reach USD 65 billion by 2024. If India’s pharmaceutical sector continues to grow at this pace, it will further expand and reach USD 120–130 billion by 2030.

The world has entered yet another year, but COVID-19 is here to stay and is unlikely to end anytime soon. It has undoubtedly presented the greatest challenge of the 21st century to date.