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Indian biopharmaceutical sector will continue its momentum and it will not only play a critical role in producing affordable medicines but also prove its potential to become a global leader in the development of complex biotherapeutic products.
Kiran Mazumdar Shaw, chairperson, Biocon and Biocon Biologics said that the sector’s impressive growth trajectory, with pharmaceutical exports crossing $2.3 billion in July 2024, highlights its critical role in addressing global healthcare challenges. As India focuses on building its capacity for innovation and scaling up production, the industry is expected to become an even more significant contributor to global healthcare solutions by 2025.
As the chairperson of the Karnataka Vision Group on Biotechnology, I envisage 2025 as a transformative year for the biotechnology sector. In this regard, Karnataka has always been a trailblazer in biotechnology, and the state government’s forward-looking initiatives are positioning it as a global hub for cutting-edge research and innovation, Shaw told Pharmabiz in an email.
Karnataka's forward-thinking Global Capability Centers (GCCs) Policy can potentially attract significant investments in biotechnology and other key sectors. Central to this strategy is the development of three global innovation districts in Bengaluru, Mysuru, and Belagavi, where dedicated areas will host GCCs. The policy, which targets the establishment of 500 new capability centres to reach a total of 1,000 by 2029, promises to generate 350,000 jobs and contribute an economic output of USD 50 billion. By integrating Centres of Excellence (CoEs) and GCCs within these innovation districts, Karnataka can attract more global biotech players, solidifying its reputation as a premier destination for biopharma and biotech innovation, she noted.
In 2024, key government policies like Vigyan Dhara and the BioE3 policy, are expected to further fuel this growth, promoting bioscience-led research and bio-based manufacturing. The Rs. 10,000 crore Vigyan Dhara initiative focuses on fostering foundational research and developing critical technologies, while the BioE3 policy supports innovations in bio-processing for strategic areas like precision biotherapeutics, smart proteins, and climate-resilient agriculture. These policies align with India’s long-term vision of achieving “Viksit Bharat 2047” and driving sustainable development through a circular bioeconomy, she added.
Biocon was at the forefront of several exciting developments in the story of India's biopharma industry in 2024. It began with a groundbreaking achievement in the generics business. After years of relentless effort, the company received the MHRA (UK) approval for Liraglutide, making history as the first company worldwide to secure approval for a generic version of this revolutionary diabetes and weight management drug in a major regulated market. This milestone wasn’t just a regulatory win, I t was a testament to the company’s expertise in crafting complex peptide drug-device combinations, showcasing its commitment to pushing scientific boundaries, she noted.
Meanwhile, Biocon Biologics too also marked the year with key regulatory breakthroughs, securing US FDA approvals for two of its biosimilars: Yesafili, an interchangeable biosimilar to Eylea or Aflibercept, and Yesintek, a biosimilar to Stelara or Ustekinumab. These approvals are a step towards making these advanced therapies available to those suffering from complex eye and immune-related disorders, she stated.
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