India Extends Deadline for ₹5,000 Crore Pharma Innovation Scheme to Boost Global Hub Ambitions

The Indian government has extended the deadline for the ₹5,000 crore Promotion of Research and Innovation in Pharma & MedTech (PRIP) Scheme to November 10. This initiative is designed to shift India's pharmaceutical industry from being primarily a producer of affordable generic drugs to a global center for innovative drug discovery and medical device development. The scheme aims to address the historical lag in high-risk basic research and new chemical entity development, which is crucial for moving towards a value-based, innovation-driven model.

The PRIP Scheme comprises two main components: ₹700 crore for establishing centers of excellence at National Institute of Pharmaceutical Education and Research (NIPER) branches to build shared research infrastructure and foster industry-academia linkages, and ₹4,200 crore allocated for direct financial grants to industries and startups. The extension was granted to ensure broader participation from various stakeholders, including startups, MSMEs, large firms, and multinational companies, and to accommodate the time needed for preliminary application steps like entity locker registration and fee payment on Bharatkosh.

Priority areas for funding include new medicines (NCEs, biologics), complex generics, biosimilars, and novel medical devices. Notably, higher financial support is available for Strategic Priority Innovations (SPIs) addressing public health concerns like orphan drugs for rare diseases and treatments for antimicrobial-resistant pathogens.

Impact: This scheme has the potential to significantly boost the research and development capabilities of the Indian pharmaceutical and medical technology sectors. By de-risking innovative projects and providing substantial financial support, it encourages private sector investment in developing globally competitive intellectual property. This could lead to a surge in novel drug and device discoveries, enhancing India's global standing and driving substantial growth for companies in these sectors. The long-term outlook for Indian pharma and medtech innovation is significantly positive. Rating: 8/10

Difficult Terms: Generics: These are off-patent drugs that are equivalent to a brand-name drug in dosage form, safety, strength, route of administration, quality, performance characteristics, and intended use. New Chemical Entities (NCEs): These are drugs containing an active substance that has not been approved by regulatory authorities like the US FDA or EMA previously. Biologics: Medicines derived from living organisms or their components, such as proteins, antibodies, or vaccines. Biosimilars: A biologic product that is highly similar to an already approved biologic drug, differing only in minor aspects. Centers of Excellence: Institutions recognized for their outstanding achievements and leadership in specific fields of research or practice. Industry-Academia Linkages: Collaborations between universities/research institutions and commercial companies to share knowledge, resources, and conduct joint research and development. Intellectual Property (IP): Creations of the mind, such as inventions, literary and artistic works, designs, and symbols, which are protected by law. Strategic Priority Innovations (SPIs): Research or development projects focused on critical national health needs, even if they have limited commercial market potential. Orphan Drugs: Medications developed to treat rare diseases affecting a small percentage of the population. Antimicrobial-Resistant (AMR) Priority Pathogens: Bacteria, viruses, fungi, or parasites that have developed resistance to drugs designed to treat them, posing a significant global health threat. MSMEs: Micro, Small and Medium Enterprises, a classification based on investment and turnover. Bharatkosh: An online payment gateway developed by the Indian government for citizens to pay for various government services.