• 4 January 2011
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Industry wants R&D incentives

In the past, life sciences industry has not been given the due attention it deserves; the industry, however, hopes to get importance in this year’s budget “Granting infrastructure status to the healthcare industry has been a long pending issue, which needs to be addressed by the government. Further reduction of taxes is needed to incentivize pharmaceutical companies to invest more in R&D programs for developing new drugs.”
Dr Manu Jaggi, CEO, Dabur Research Foundation

“The Budget 2011 will benefit pharmaceutical companies and allows them to expand on their product portfolio by providing cost-effective healthcare options. Previous budgets have not provided tangible benefits to the CRO industry and we expect that trend to continue in next budget as well.”
Mr SK Mukherjee, director, CliniRx Research
“R&D must be encouraged for the next 10 years to make India the next destination for biotech. This is indeed a ‘knowledge industry’ and industrial biotechnology backed with agriculture can help India proceed at same or even faster pace of growth.”
Mr C L Rathi, MD, Advanced Enzymes

“The budget proposals should equip India to become competitive with other countries in the world in genomics by providing exemptions on imports and building infrastructure.”
Ms Anuradha Acharya, CEO, Ocimum Biosolutions
“India with its tremendous know-how and industrious human capital has become a leader in generic drug production and R&D. The government needs to make deliberate attempts to foster innovation in biologics to address unmet medical needs and to unleash full potential of this promising sector.”
Dr Alpna Seth, CMD, Biogen Idec

“Currently, the only tax benefit available for R&D activities is in the form of weighted deduction for in-house R&D. Benefits should be provided for units engaged in R&D and contract manufacturing by reducing profits linked to investments. Benefits in the form of research tax credits which can be used to offset future tax liability, similar to those given in developed economies can be introduced.”
Mr Tapan Ray, DG, Organization of Pharmaceutical Producers of India
“The focus should be on increasing the incentives provided in previous year’s budget. More tax concessions both in corporate as well as R&D will spur innovation. The budget for science and technology, especially in biotechnology, should increase. Importantly, increased access to early stage funding for biotech/pharma firms is crucial for maintaining growth and innovation.”
Dr Satya Dash, COO, Association of Biotechnology Led Entrepreneurs

“I expect the Union Budget 2011 to expand the support to biotechnology-driven healthcare needs. There will be budgetary and fiscal policy support to domains such as vaccines for public health programs, molecular diagnostics for public health testing and drug products that either enable lower costs of therapies or address unmet medical needs.”
Mr KV Subramaniam, president & CEO, Reliance Life Sciences
“Our biggest challenge is the complex regulatory mechanism. We hope the government will simplify it  and introduce a single window mechanism for biotech/pharma industry to enhance development activities and time to market.”
Dr Krishna M Ella, CMD, Bharat Biotech

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