Cabinet approves MoU between India and Finland in the field of Biotechnology

Source: IBEF.org, Feb 07, 2019

New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the MoU between India and Finland for collaborating based on mutual interest in the field of Biotechnology, for funding and implementing ambitious industry-led innovative and transnational projects within the broad scope of research development and innovation.

Benefits:

The Mou will support creation of long-term Research, Development & Innovation collaboration mechanism and to establish and strengthen cooperative network between Indian and Finnish organizations. By funding need-oriented, ambitious joint projects of high international standards, the two countries aim to help reach world-class innovations beneficial to both countries. It will also facilitate knowledge sharing and knowledge generation among scientists, researchers and industry in the two countries.

Details:

Identifying innovation as the cornerstone of the collaboration, both DBT and Business Finland have agreed to cooperate with Biotechnology Industry Research Assistance Council (BIRAC), the Public Sector Enterprise of the Department of Biotechnology (DBT), Government of India for funding and implementing ambitious industry-led innovative and transnational projects. Based on their mutual interest following research areas have been identified, i. Mission Innovation;

Biofuture platform: biofuels, bioenergy and biomass based products;

• Environmental and energy applications of biotechnology;
• Business development of start-up and growth companies; and
• Education technologies and games in life sciences vi. Other fields of life science industry

 Background:

The MoU was signed in accordance with the Agreement between the Government of the Republic of Finland and the Government of the Republic of India on Co-operation in the fields of Science and Technology, signed in Helsinki on March 25th 2008, wherein, based on mutual interest it was agreed to promote long-term research and development and innovation (R&D&I) cooperation between Finnish and Indian organisations.

Government Aims To Make India A Global Biotech Hub By 2020

Source: IBEF.org, Mar 21, 2017

New Delhi: The Minister of State for Science and Technology & Earth Sciences, Mr. Y. S. Chowdary, has said that biotechnology will be the leader among the knowledge based industries of the 21st century. He said producing affordable products will be major issue for India. He called for efforts to set up a proper ecosystem with sustainable systems, particularly in hubs of rural India. The Minister was speaking after inaugurating the 5th Foundation Day of Biotechnology Industry Research Assistance Council (BIRAC), Department of Bio-Technology at New Delhi today.

Mr. Y. S. Chowdary, further said that – “Research and innovation has been one of the key areas emphasized by the Prime Minister. Globally, BIRAC has been hailed as one of the most effective government measures to create an enabling environment for research and development to flourish in a country. We aim to develop India into a global innovation hub by 2020 and BIRAC has paved the way to deliver on that mandate.”

Merck plans India bio-production plant

New Delhi: German healthcare and life sciences firm Merck KGaA may set up a bio-production plant in India to help local companies create biotech drugs and biosimilars (copies of off-patent bio-tech drugs). The plant will be its fourth such globally, a top executive for the company toldMint.

“We would be open to set up a bio-production centre. We have one in France and we have opened one in the US. We will open another one in China. Because we believe that demand in these three geographies is undisputed; as it is in India,” Udit Batra, member of the executive board of Merck KGaA and chief executive of its life science business, which contributes 44% of the firm’s global revenue, said in an interview on Friday.

Govt expects biotech sector to hit $100 billion by 2025

Source: Business Standard, Jan 19, 2017

New Delhi: The government is targeting the country’s biotechnology industry to reach $100 billion by 2025, as it works to develop India into a world-class biomanufacturing hub.

The sector, which is currently growing at 20 per cent, is expected to go up to $11.6 billion by 2017, according to the achievement report of the sector under government’s ‘Make in India’ initiative.

Biocon hits fresh record high as EMA accepts biosimilar for review

Mumbai: Shares of Biocon hit a fresh record high of Rs 910, up 5% on the BSE in early morning trade, after the company announced Mylan’s application to market biosimilar Trastuzumab has been accepted by the European Medicines Agency (EMA) for review. The biosimilar Trastuzumab is used to treat certain breast and gastric cancers.

“Mylan and Biocon, which have co-developed this popular biosimilar, anticipate that this may be the first Marketing Authorization Application (MAA) for a biosimilar Trastuzumab accepted by the EMA for review,” Mylan and Biocon said in a joint press release.

“This is the second biosimilar submission developed by the partnership that has been accepted for review in Europe,” it added.The filing includes analytical, functional and pre-clinical data and results from the pharmacokinetics and confirmatory safety global clinical trials for Trastuzumab, the company said.

At 09:29 am, the stock was up 4.7% at Rs 906 on the BSE, as compared to 0.29% rise in the S&P BSE Sensex. The counter has seen huge trading volumes with a combined 1.26 million equity shares changing hands in first 15 minutes of trade on the NSE and BSE.

Biocon links with Mexico’s PiSA to tap US insulin market

Source: The Economic Times, Mar 17, 2016

MUMBAI: India’s largest biotechnology company Biocon said it has entered into a co-development and commercialization alliance with PiSA of Mexico for recombinant human insulin aimed at the US market.

The partnership with the Mexican insulins major will help Biocon gain proximity to the US market while leveraging the country’s NAFTA membership to ensure an efficient and optimal supply chain for the US.

Biocon gets approval for generic Crestor in Europe

Source: LiveMint.com, Feb 15, 2016

Hyderabad:Biopharmaceuticals firm Biocon Ltd on Monday said it has got approval to sell the generic equivalent of Astrazenaca Plc’s cholesterol-lowering pill Crestor in the European Union (EU).

The approval is for the 5 milligram (mg), 10 mg, 20 mg and 40 mg dosage forms of the drug .Crestor, generically called rosuvastatin calcium, is Biocon’s first-ever generic formulation approval in a regulated market.

 “(It) marks an important milestone in Biocon’s small molecules strategy of forward integration from APIs to finished dosages,” Biocon said in a statement.“The approval for rosuvastatin calcium, through decentralized procedure, will open the doors for Biocon to over 15 European countries and will enable the company to address $1.2 billion opportunity, starting FY17,” the company said.

India risks missing boat as biosimilars shake up drug industry

Source: Financial Express, Oct 15, 2015

Mumbai: India, which has dominated the generic drugs industry for decades, is falling behind in the race to make copies of complex biotech drugs, which are expected to generate tens of billions of dollars in sales in the coming years.

While Indian firms have launched a few such products on the domestic market, where regulatory barriers are relatively low, they are being overtaken by European, American and South Korean firms in the race to supply lucrative Western markets.

New task force for biotech sector

Source: Times of India, May 18, 2015

SHIMLA: The Himachal Pradesh government has formed a task force for the formulation of biotechnology-related policies and implementing them. The task force will also formulate norms for setting up biotechnology-based industry in the state. The department of environment, science and technology is the nodal department for the sector.

Himachal Pradesh is endowed with rich plant, animal and microbial biodiversity. There are many rare plants, particularly in the upper reaches of Himalayas, which have immense potential for use in the pharmaceutical industry. Confirming the development a senior government official said that the department would promote appropriate research in different sectors, lay more emphasis on fields like bio resource utilization, conservation and industrial promotion that were likely to create employment and maintain networking between companies, research centers and institutions.

Indian biotech firm Stempeutics Research gets US Process Patent for its novel stem cell drug

Bengaluru: Bengaluru based Stempeutics Research has been granted a US process patent for its stem-cell based drug Stempeucel by the United States Patent and Trademarks Office.

Backed by the Manipal Education and Medical Group and drug maker Cipla, Stempeutics makes stem cell-based drugs or regenerative medicine. It enables living, functional tissues to repair or replace tissue or organ function lost due to age, disease, damage or congenital defects.

“The patent granted is a strong recognition for Stempeutics for its sustained excellence of scientific and clinical work,” said B N Manohar, chief executive of Stempeutics.