Tata Sons’ Chairman Emeritus Ratan Tata says health care-related breakthroughs would be the next big wave for the start-up ecosystem in the current decade. He continues to feel the need to support young entrepreneurs while stating that innovations to cure certain types of cancers would also emerge in the current decade.
Bosch India, a supplier of technology and services has signed a memorandum of understanding (MoU) with the Indian Institute of Science (IISc), Bengaluru. Through this MoU Bosch and IISc will collaborate to address India centric requirements. This partnership to pave way for increased collaboration on India centric research topics
National pharmaceutical institutes have signed 17 agreements with drug firms, including Dr Reddy’s, Sun Pharma and Wockhardt. Seven National Institutes for Pharmaceutical Education and Research (NIPERs) have undertaken academia-industry linkage with 17 Pharma Industries of Private and Public sector. Among the institutes, NIPER Hyderabad signed three agreements — one each with Dr Reddy’s Labs, Bharat Biotech and NATCO. NIPER Ahemdabad inked four MoUs one each with Cadila Pharmaceuticals, Cadila Healthcare (Zyudus), Sahjanand Technologies and Johnson & Johnson.
In line with the global industry’s commitment to innovation in India, PricewaterhouseCoopers (PwC) had been commissioned to assess the innovation landscape of the Indian pharmaceutical industry and to suggest policy recommendations to help India move up the innovation value chain. PwC presented their initial findings, which highlighted the need for India to strengthen four pillars of innovation: Infrastructure; financing; human resource, legal and IPR and regulatory, in order to create an environment conducive to innovation and able to attract global investment. The visiting leaders shared their thoughts on the industry’s potential, especially relating to pharmaceutical innovation in India. The global delegation met with top Indian government officials, academic experts, and business leaders. They encouraged support for innovation in India, including the development of new solutions to treat patients suffering from rare diseases and new medicines to save and improve lives.
OrbiMed has led a $50 million (about Rs 325 crore) round of funding in online pharmacy marketplace Netmeds.com. The exact terms of the deal were not disclosed. The promoter of Chennai based Netmeds.com Pradeep Dadha Group have also participated in the round, through its family investment fund. Mape advisory group, boutique investment bank participated in the round. The four month-old startup will use the proceeds from the round of funding to develop its supply chain management system, build brand awareness and providing a greater array of medicine and healthcare products to consumers, amongst others.
Netmeds.com is a fully licensed pharmacy marketplace that offers authenticated prescription and over the counter medicine along with other health products.