Monday, November 29, 1999

Indian healthcare poised to take off: USAIC report

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Bullish on the Indo-US Bio Pharma trends, the US-India Chamber of Commerce (USAIC) in its latest position paper has said Indian health care sector is poised to take off along with the economy.Prepared by McKinsey on behalf of USAIC, a Boston- based a premier bi-lateral Chamber of Commerce, the position paper "Crossing the Next Frontier" said consolidation in the BioPharma industry in India is continuing unfettered and New Delhi is putting in place potential enablers to accelerate collaborative initiatives in this sector.The report, which highlights the significant ongoing investments (public and private) in infrastructure development in the provider space in India, was released at the annual US-India BioPharma and Healthcare Summit held in Boston last week.The meeting was attended by some of the top corporate leaders and academicians from both India and the United States; prominent among them include Martin Mackay, president Pharma Therapeutics, R&D, Pfizer, and Barry Bloom, professor and past dean, Harvard School of Public Health.There is immense opportunities in India in the bio-pharma and health care sector, said Karun Rishi, president USAIC.During the day-long meeting, the participants brain stormed on a wide range of issues including drug discovery & development, industry-academic partnerships, healthcare opportunities, clinical research, funding innovation and cross border M&A trends.Mackay said that India would play an important role in the global bio-pharma sector in the years to come, while Dr. Backed up by the position paper, participants of the meeting discussed the current opportunities for US-India collaboration which includes scaling up sourcing from India, realizing India's potential for clinical trials, leveraging India for Lifecycle management innovation and broadening innovation collaborations.

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