Some
Bright Spots
Can any industrial segment
insulate itself from the negative sentiments affecting almost every
other sector in the national economy? This is the question now
confronting the leaders of the biotechnology industry in the country
and elsewhere. How does one deal with the current situation when there
is a crisis of confidence all around? How should the biotech
sector approach the situation, especially when its fortunes are linked
to the phase of technological and regulatory developments only in the
long run?
There is no clear patter so far from within the industry. There is
certainly an element of caution and an urgency to cut out the frills
and concentrate on the long-term activities. This is best exemplified
by the Cover Story in this issue which is all about the bubbling
biotechs. Another wave of entrepreneurship is currently lapping the
shores of Indian biotech. A new set of gung-ho entrepreneurs, supremely
confident about the ability to make it happen, with their bright ideas
and even brighter business models, is now the toast of the biotech
town. Not one of them profiled in the ensuing BioSpectrum pages even
hinted at any uncertainly clouding their entrepreneurial visions.
Even more remarkable is the entry of a related segment,
nanobiotechnology, to shore up the fortunes of Indian biotech. This new
segment is all set for action. Over a dozen companies have come up,
trying their best to incorporate cutting edge nano technologies to
mainly improve drug delivery systems and processes. Drug delivery seems
to be the sector which is likely to benefit the most from the adoption
of technologies that make things happen at the nano levels. A
nanobiotech ecosystem is also emerging in the country.
At the same time, the established biotech players hunkering down to
tide over the short term impact of slightly slowing sales and the wrong
calls on the forex rates. The wait and watch attitude of the
established players in the industry seems to be having some negative
impact on the overall sentiments. BioSpectrum had teamed up with the
industry association, ABLE, to bring the entire Life Sciences industry
on a common platform in Mumbai on February 18-19 as part of the
Navigate 2009 event. We have listened to the feedback from
the industry and deferred the event by 11 months to January 2010. The
annual Bangalore Bio event, too has been rescheduled to June from the
original April dates. There is a global wait and watch over the global
biotech industry’s annual gathering, scheduled to take place
in May in Atlanta. The industry has panicked too early, and should
actually imbibe some confidence from the new entrepreneurs who have not
slowed down their plans amidst this gloom. That is actually the way to
go forward for those who believe in the long term strengths of the
biotech sector.
Some regulatory clouds over the vaccine issues have ben lifted and
there is assurance that the promises on this score will be
kept. However, the gathering storm over the issue of field trials of
the country’s first genetically modified (GM) food crop,
a Bt brinjal variety, is a distraction. Ministers and
activists have jumped into the fray, without waiting for the last word
from the experts tasked with the stringent regulatory approval process.
It is time bio agri companies got together to counter the anti-GM
campaign being waged on various fronts. Otherwise, it may be too late.
It is time to join the one-sided national debate that is now going on
about GM foods. Scientists and industry leaders who have supreme
confidence in the GM food technology should speak up, like Prof.
Montagu, the pioneering plant geneticist, has done in the special
interview that appears in this issue of BioSpectrum. Stand up and be
counted in this hour of crisis facing the segment which has the
potential to transform Indian agriculture beyond recognition.
<sureshn@cybermedia.co.in>