At the Annual Summit of Organisation of Pharmaceutical Producers of India (OPPI), held on the 23^rd of November 2023 at Le Méridien, New Delhi, Rajeev Singh Raghuvanshi, Drugs Controller General of India (DCGI), Central Drugs Control Standard Organization (CDCSO) emphasised on pharma innovation stating that a mass movement is required to be carried out by the Indian pharma sector.

"We need to bring a shift in the mind set, since most of us are still thinking with respect to the generics model, because it has become so successful. The problem lies in the fact that people in the pharma sector mostly wait for a reference, and then start working on something. There are very few people who take the initiative and start innovating on their own. So, just like how the development of generics has become a mass movement in India, we need to drive innovation and start a mass movement there as well", he said.

In sync with this thought, the event also saw the launch of the ‘Reimagining Pharma and Healthcare for India@100’ report, a collaboration between OPPI and EY Parthenon, the summit's knowledge partner.

While novel drug development promises high returns, it also requires a high investment of time and resources. In the OPPI-EY survey, the need for substantial investments over an extended gestation period, coupled with high risk of failure, emerged as the foremost barriers impeding the industry's advancement in the realm of innovation.

"India needs to establish a comprehensive regulatory data protection framework and bolster the IP environment and enforcement. This will have a profound positive impact on India's innovation ecosystem and enhance patients' access to cutting-edge treatments", said Anil Matai, Director General, OPPI.

With its dual strength of ‘quality with affordability’, India has the potential to become the next bright spot in the ‘next generation therapeutics space’, and potentially emerge as a frontrunner similar to how it became generics leader of the world. 

Suresh Pattathil, President, OPPI said, "This summit echoes our resolute dedication to advancing healthcare with a patient-centric approach. The transition from Volume-Based to Value-Based healthcare is not merely a discourse; it's a commitment to better outcomes for every individual in our nation. Over the years, we have focused on collective action to chart a path toward a more inclusive, innovative, and sustainable healthcare future for Bharat.”