₹17,000 Crore Pharma Boom: India's R&D Revolution Begins.

India is set to receive nearly ₹17,000 crore in pharmaceutical research and development (R&D) investments by FY28, focusing on cancer research, lifestyle disease prevention, medical technology, orphan drugs, and new chemical development, according to Amit Agrawal, Secretary, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers.

The ₹5,000-crore Scheme for Promotion of Research & Innovation in Pharma MedTech Sector (PRIP) is expected to see its first disbursements by the end of 2024. "The government will either take equity in selected projects or provide funding based on a milestone-driven approach," Agrawal told businessline.

An Expression of Interest (EoI) has been issued under the scheme, with a stakeholder feedback deadline of April 7. Project selection is expected to be finalized by late April or early May, with disbursements beginning within six months.

PRIP Scheme to Strengthen India's Pharma R&D Leadership

Designed to position India as a global leader in pharmaceutical and MedTech R&D, the PRIP Scheme allocates ₹4,250 crore to enhance research investments. "We anticipate an additional ₹17,000 crore in investment and expect around 30 new products or technologies by FY28," Agrawal stated.

To promote the scheme, the government has planned nationwide roadshows and stakeholder meetings. The funding is structured into multiple components:

Component A (₹700 crore): Establishing Centres of Excellence

Already implemented, this segment funds specialized Centres of Excellence at seven National Institute of Pharmaceutical Education and Research (NIPER) campuses in Mohali, Ahmedabad, Hajipur, Hyderabad, Kolkata, Guwahati, and Rae Bareli. These centers focus on:

• Antiviral and antibacterial drug development
• Medical devices and biotherapeutics
• Bulk drug R&D and flow chemistry
• Phytopharmaceuticals and novel drug discovery

Component B: Driving Research & Innovation

This segment supports research in six priority areas:

1. New chemical and biological entities, phytopharmaceuticals
2. Complex generics and biosimilars
3. Precision medicine, stem cell & gene therapies, cancer biomarkers
4. Orphan drugs for rare diseases
5. Antimicrobial resistance drug development

Funding Structure for R&D Projects

• Pharma-Academia Collaborations: Nine projects will be selected, each eligible for up to 35% government support, capped at ₹125 crore.
• Commercialization-Ready Projects: Thirty projects will receive up to 35% funding, with a maximum of ₹100 crore per project.
• MSMEs, Startups & Research-Oriented Companies: 125 early-stage R&D projects will receive ₹1 crore each, with funding based on a milestone-driven approach over five years, extendable if needed.

"We may consider extending the timelines based on project requirements," Agrawal added, emphasizing the government's commitment to advancing India's pharmaceutical innovation ecosystem.

News by Rahul Yelligetti.