Regulated market
Korea is only one of very few regulated pharma markets in the world other than US, Europe, Japan and Australia. And this is the first time a vaccine is moving from a developing country to a regulated market. "It tremendously increases the confidence and capability of Indian industry at large. We are going towards a scenario where it is all about globalisation. Companies across continents are going to be working together in various scenarios. This is an opportunity to raise to that level," said Suchitra Ella, Bharat Biotech. While this will fetch Bharat Biotech business of upto US$ 2 million, it could also open up possibilities for more contract manufacturing to be sourced from India.
Looking ahead
Industry observers say there are not too many middle-sized biotech manufacturers in the world that can compete in terms of time factor, cost, skills and resources. "We are very keen to strengthen the biotechnology industry. We have already taken several initiatives and in future also we will take all possible steps," said Raghuveer Reddy, Agriculture Minister, Andhra Pradesh. Hyderabad is emerging as the biotech hub of the country. To meet the challenge of the post GATT agreement, several south Asian countries are in fact coming together to mobilize resources and forge new alliances.
