InnoHEALTH in Bengaluru October 2017
Handholding Innovative companies from EU for Indian Market Access: A day well spent in Bengaluru. Sachin Gaur spells out the details of the magical meeting between the two sides opening doors for a brighter and fruitful future.
InnovatioCuris, IC in partnership with NovoJuris and with support of Honorary Consul of Estonia in Bengaluru, Karnataka Drugs and Pharmaceuticals Manufacturers’ Association, (KDPMA) organized the Bengaluru leg of InnoHEALTH conference followed by B2B meetings.
When in the planning stages of the delegation visit we were strongly advised by the Department of Biotechnology, Government of India to include Bengaluru in our itinerary. As you know Bengaluru is probably the center of all the action in the country when it comes to biotech industry.
So, we looked at a stakeholder approach considering that many of the companies/delegates were to visit India for the first time. We realized that the main stakeholders for such a visit would be experts on Indian health sector, distribution channel experts, investors and legal experts.
Since, Estonia was our country partner we reached out to the Honorary Consul in Bengaluru who further connected us with KDPMA and other industry bodies. We, also, partnered with NovoJuris given their expertise in legal matters and strong interest in the health sector. The whole program was put together in partnership with a strong collaboration of the IC and the NovoJuris team.
The Bengaluru visit was planned for 21st of September 2017 with the first half of sessions with experts in the areas identified. The session about Indian health sector was delivered by Dr. V C Shanmugandan from Association of Private Hospitals of India and Ms. Swetha Suresh from Swissnex. The legal session was delivered by various experts of the NovoJuris team. The investor session saw experts from Accel Partners and PWC. The distribution session was run by officials of KDPMA, Mr. Sunil Attavar and Mr. Harish Jain.
Post lunch and evening sessions were reserved for the B2B meeting followed by cocktails, where various business leaders interested in partnering with the EU companies engaged the delegates. The EU delegation was very happy with the quality of the conference and the contacts made during the B2B sessions. It was a good learning experience for us as well to bring the stakeholders together and we gear up to do it again in 2018!
Dr. V. K. Sharma
“To share some positive facts about the Indian Pharma Industry: We are the most economical medicine manufacturer in the world; India is the third largest producer in volume and 10th largest in business globally; Thirty percent of US requirements are catered by Indian pharma manufacturers; We export to almost 200 countries in the world; One out of the three pills consumed in the world is from India. And all this has been achieved in the last 30 years when Indian government came out with Pharma policy in 1986.”
Dr. Vinod Nikhra
“India has been on the forefront of providing some of the leading medical facilities that are uniquely innovative and ingenious. Indian pharma industry has gone beyond molecular contributions and is in fact manufacturing some ground breaking gadgets and machines that contribute to curing people from extreme ailments like the heart and lung diseases, transplants and coronary diseases. Of course pricing is an issue that is faced by the industry and the irony is that despite the price being much cheaper than the international market, it still remains out of the reach.”
Highlighting the efforts and intentions of the Government of India, Dr. Sanjiv Kumar, Director of the International Institute of Healthcare Management (IIHMR) shared his excitement regarding the positive steps of the government. “I am excited about the shape of things to come in the near future with acceptance and adaptation of innovations and new technology.”
In fact, he took a very encouraging approach and said, “Technology is available in your pocket for your good health. Starting with your smartphone, by which you can count the steps you take and the calories that you burn in a day, innovation hence has already become part of our lives and us our using technology of today with the very innovative approach and amazing outcomes.”
“Even the shortage of doctors or specialists is taken care of by telemedicine or long distance consultation. This is not in the future, but is, in fact, happening with the best of the doctors and specialists being consulted by clinics and medical facilities from all over the country – some as newly-formed private establishments or many more backed by the government to maximize the utilization of doctors and specialists who are in terrible shortage.”
All the panelists unanimously voiced their positivity about the fact that the health and medical field in India has been most encouraging in embracing innovations and new technology with amazing results.
Dr Karthik Anantharaman
“Traditionally developing medical devices is very capital intensive with years of R&D that adds to the cost and makes it very unviable for the product to be of any commercial viability. The best way forward is to produce products that are of need by the doctors and not indulge in ambitious research programs that can take as long as 4-5 years of development time and just the rearch can cost a couple of million of dollars.”
“Life cycle of a diagnostic device is not predictable as some competition may arrive in the market within six months of its launch, with additional facilities, extra benefits and probably at a cheaper cost. And there are other factors that can contribute to failure of the product despite it being very innovative and technically superior. For this you need Curators for startups or need big corporate to invest in service and maintenance for new innovative products.”
M.V. Amaresh Kumar
“Cost of innovation is always high as it involves immense research and investment in resources with no guarantee of market share. Government establishments like the Andhra Metric Zone and Abdul Kalam institute have come to the rescue of such innovators who need hand-holding by someone for making new products commercially viable and relieving the inventor of such mental burden. Only such marriage between innovators and non-profit establishments can ensure innovations to be introduced at reasonable price – not necessarily at a cheap rate, but affordable.”
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Read all the issues of InnoHEALTH magazine:
InnoHEALTH Volume 1 Issue 1 (July to September 2016) – https://goo.gl/iWAwN2
InnoHEALTH Volume 1 Issue 2 (October to December 2016) – https://goo.gl/4GGMJz
InnoHEALTH Volume 2 Issue 1 (January to March 2017) – https://goo.gl/DEyKnw
InnoHEALTH Volume 2 Issue 2 (April to June 2017) – https://goo.gl/Nv3eev
InnoHEALTH Volume 2 Issue 3 (July to September 2017) – https://goo.gl/MCVjd6
InnoHEALTH Volume 2 Issue 4 (October to December 2017) – http://amzn.to/2B2UMLw
InnoHEALTH Volume 3 Issue 1 (January to March 2018) – https://goo.gl/fksdQx
By Vigyan Arya