Govt launches USD 400-mn prog to promote bio-pharma sector

The government today launched a USD 400-million research and development programme in collaboration with the World Bank to accelerate the growth of bio-pharmaceutical sector in the country.

The 'Biopharma Mission' will specifically focus on the development of vaccines for diseases like dengue and cervical cancer, bio-therapeutics, diagnostics and medical devices.

Science and Technology Minister Harsh Vardhan said the "game-changer" mission aims to target at least 6-10 products in the next five years.

He said the aim of the mission is also to increase India's share in the sector from 2.8 to 5 per cent in the coming years.

"This is for the first time that the World Bank has given a loan for any research and development programme in the country.

"This will also help us collaborate with global leaders in the field from the academia and the industry and this will ultimately help the country," Vardhan said.

Of the USD 400 million, the government will give USD 250 million while the World Bank's share is USD 150 million.

Vijay Raghvan, the secretary of the Department of Biotechnology, which is executing the project, said India already has a good infrastructure and ecosystem that has been built over the years.

"The mission is a second step to take forward the work at another level."

Renu Swarup, Managing Director of Biotechnology Industry Research Assistance Council (BIRAC), a PSU under the DBT, said the guidance to the programme would be provided by the Inter- Ministerial Steering Committee.

The steering committee will have members from various ministries who would be supported by Programme Technical Advisory Group comprising global and national leaders from the industry and academia.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)