Is Public-Private Collaboration the Key to Growth in the Lifesciences Sector?

Lifesciences research is a lengthy, complex and expensive process. There is also increasing pressure on pharmaceutical and biotech companies to reduce costs and time lines for product development. India has a huge network of research institutes and universities with the necessary infrastructure and knowledge to undertake R&D, and the private sector has a vast pool of knowledge and know how to grow in this sector. By combining the low cost manufacturing skills of the industry and the R&D strengths of the research institutes, the lifesciences sector in India has the potential to be a global leader in this sector. Public Private Partnership (PPP) in the lifesciences space allows companies to leverage the knowledge and capabilities present within the institutes to rekindle their product basket; for the research institute, this offers the benefit of commercialization of novel inventions or processes that have the potential to generate additional revenues for both researcher and institute. However, the enormous benefits and the initiatives taken to encourage PPP in India notwithstanding, the number of PPP's do not justify the resources allocated for this purpose.

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