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Abstracts: Public Private Partnership (PPP) as
the very name suggests, is a strategic collaboration or
a symbiotic relationship between government agencies and
private enterprises meant to consolidate strengths of
both the sectors while addressing issues that both
parties cannot address independently. The advantage of
such a symbiotic relationship is the negation of
problems and merger of key growth areas that lead to
substantial augmentation of strategic opportunities.
Need for PPP in Life Sciences
Globally, it has been well documented that life science
research is a lengthy, complex, expensive and a risky
process. Companies are faced with uncertainties where
investment in research and development is concerned;
increasing investment in research and development has
not necessarily resulted in increasing product
pipelines. Compounding this problem further is the fact
that many companies are facing serious concerns
regarding their shrinking pipelines. They are slowly but
steadily running out of options to experiment, as the
low hanging fruit has already been picked. Many
pharmaceutical and biotech companies are realizing the
importance of basic biology in product development.
Genomics and Proteomics are increasingly being used in
today’s drug and diagnostic development. But, most of
the expertise for this type of high-end basic research
lies with academic research institutes; whereas, experts
in private companies have the ability to apply this
basic research to develop commercializable, novel
products and services. In such a scenario, cooperation
between the public and private players in the sector
would bring together a lot of advantages that could be
applied to overcome the pipeline stress.
Evolution of the Indian Life Sciences Industry
The Indian Life Sciences industry has always been geared
towards producing low-cost products and services. This
can be attributed to the limited resource availability,
which forced the Government in the 70’s to encourage
process innovation rather than product innovation. While
such a policy has helped India gain center stage in the
global generic industry, it has led to a complacent
attitude towards developing innovative products. With
India’s entry in the WTO and it becoming a signatory to
the TRIPS agreement, this lack of innovative ability has
become a hindrance to the local drug industry. The
industry has realized that in the long run, innovation
would be the driving force and genericization and
process reengineering abilities can only take them so
far. This has led to substantial financial investment in
R&D activities.
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