India becoming an important part of global biotech industry: FIICC

The Life Sciences industry in Israel is 50 percent dominated by pharma behemoth Teva Pharmaceuticals, followed by Taro Pharmaceuticals, which is now part of India’s largest generics empire, Sun Pharmaceuticals Industry.

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Mr David Keynan, vice-chairman, Federation of Indo-Israel Chamber of Commerce (FIICC)

"These two companies together hold 65 percent of Israeli Life Sciences industry including medical devices, drug discovery and development," pointed Mr David Keynan, vice-chairman, Federation of Indo-Israel Chamber of Commerce (FIICC), while speaking exclusively to BioSpectrum.

In the medical devices industry, he said, as of now India and Israel's relationship is at a very nascent stage.

Also, Israel has 5 state-of-the-art R&D centres of the world-renowned Life Sciences organizations including Sanofi-Aventis, and BMS. Medical device manufacturers, GE and Philips have also set up their R&D centres in Israel.

Most of the Israeli start-ups in the Life Sciences is said to fall under the medical devices category. "All put together we now have about 100 thriving start-ups in Israel," said Mr Keynan.

Out of these, one-third of the start-ups are in the area of drug discovery and development, another one-third in medical devices and the rest falls into other Life Sciences areas.

 

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