Wednesday, 20 November 2019

ABLE announces International Regulatory Consortium

04 April 2019 | News

ABLE forms four Consortia to boost International perception of INDIAs importance in Drug Discovery & Development

image credit- shuttershock.com

image credit- shuttershock.com

The Association of Biotechnology Led Enterprises (ABLE) has announced the formation of four consortia in the areas of Drug Discovery, Biopharma, Regulatory matters and Incubation. These are.

  1. INDIA International Drug Discovery & Development Consortium (IIDDDC)™
  2. INDIA International Biopharma Consortium (IIBC)™
  3. INDIA International Regulatory Consortium (IIRC)™
  4. INDIA International Life Science Incubators Consortium (IILSIC)™

The objectives of the Consortia are:

  1. Develop a common point of view on matters or issues that need to be taken up to promote domestic and international R&D, investment, access, business and trade.
  2. To communicate the point of view to Indian and foreign public and private stakeholders.
  3. To serve as a prime, authentic and collective source of the India’s ecosystem in specific areas.
  4. To partner with Indian and State Governments in India and those of other countries to help them make policies or rules that are conducive to the ease of doing business.
  5. To partner with like-minded Domestic and International Associations, Groups or Consortia to develop consensus on issues that need resolution and improve India’s perception as a place for conducting business.
  6. To promote Brand India.

Given the challenging times in International trade, regulations and resource crunch for R&D in the public sector, it is essential for the Indian Industry to develop platforms to arrive and project a unanimous perspective on issues and their solutions. Each Industry player may have their own plans, but they need to work together to address several macro level national and international policy related issues that impact the Industry in the medium to long term.

As per Shrikumar Suryanarayan, President, ABLE “The 50 billion USD Indian Bio Economy is on a roll and is expected to touch 100 billion USD by 2025. The Industry and the public sector stakeholders need to work collaboratively within themselves and each other. The idea is to work together in a resource efficient manner and to project a positive Image about India’s capabilities and capacities in various areas. India’s skills are growing in many aspects and Drug Discovery is one of the important areas. The Governments at the Central and States level are working tirelessly to raise the Innovation quotient and the Industry needs to upscale it. The consortia will serve to improve focus and project a positive image of India. We encourage the serious players to join the consortia and help in the mission”

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