Vishal Gandhi, vice president,life sciences and technology, YES Bank, New Delhi
YES Bank, started six years ago, is one of the fastest
growing new generation banks in India. The bank has launched financial
products for life sciences industry and has invested in a few companies.
Vishal Gandhi, vice president of life sciences and technology, YES
Bank, in an interview with BioSpectrum, speaks about the role of the
bank in promoting the life sciences sector and future of the industry.
Q What made Yes Bank opt for biotech
industry that has long incubation period?
Life sciences and healthcare have been identified as key growth
segments of the Indian economy and India is expected to emerge as a
major player in these segments. Yes Bank has identified these
industries as key sunrise sectors and is committed to support its
growth. The bank has institutionalized a highly empowered quality team
with relevant industry and commercial expertise to focus on specific
segments of this industry.
Yes Bank also has domiciled knowledge experts who adopt a money doctor
approach to provide diagnostic and prescriptive solutions customized
for the segment.
Q What kind of partnership does the bank
has with industry associations?
YES Bank is a member of associations like ABLE, FICCI, CII, BCIL,
ASSOCHAM, OPPI, IDMA and ADMA. It recently partnered with ASSOCHAM to
conduct a study on Indian healthcare services, a report of which was
released in 2009. YES Bank and OPPI have joint hands to conduct a study
titled Indian Pharmaceutical Sector: Vision 2015. This report on
biotechnology, pharma and healthcare provides current analysis as well
as future vision for the benefit of each sub-segment of the life
sciences and healthcare industries.
Q What initiatives have been taken along
with the government to promote life sciences sector?
Being a member of the working committee of the Department of
Biotechnology (DBT), Government of India, YES Bank has provided inputs
for the National Biotech Policy. The bank is also a member of the
screening committee of Small Business Innovation Research Initiative
(SBIRI) scheme of DBT till mid 2008 and had partnered with them to
scout for right targets from financial perspective.
Q What kind of financial solutions are
offered by YES Bank to life sciences sector?
Nurturing this sunrise sector is the main priority for YES Bank. The
bank has completed a good number of deals-M&A, capital raising
advisory, vanilla lending, or structured solutions for projects and
trade finance products. These were made possible because of the deep
understanding of the dynamics of various sub-segments of the industry
ranging from biosimilars, CRAMS and diagnostics.
Q How does the future of life sciences
industry looks like?
Life sciences industry has got immense potential, but it has to be
boosted by the private sector participation. The government bodies like
ICMR, DBT and DST have supported the R&D of commercial products.
But as compared to 2000-2005, during which the biotech industry
registered faster growth, the biotech industry needs more thrust now.
The entry of bigger biotech companies like Amgen, Biogen, Roche into
India to introduce biotech-based products will definitely help the
industry to grow further. YES Bank has given more stress to the biotech
industry not only for profit but also for its contributions to address
human health-related problems in a major way.
Rahul Koul in New Delhi