By Priyanka Banerjee: Subscribe to Priyanka's RSS feed
September 24, 2010 12:46 PM EDT
U.S. India Business Council (USIBC) and the Government of Andhra Pradesh have agreed to collaborate to create new strategies in areas such as better healthcare management in the region.
A delegation of USIBC Life Sciences Mission met P.V. Ramesh, Principal Secretary for Health, Andhra Pradesh, to discuss areas of collaboration.
The USIBC Mission also met several other senior executives from Indian and foreign biotech companies, clinical research organizations as well as top consulting and legal firms on a four-day visit to Hyderabad and Delhi.
It also organized a meeting with multiple industry groups including BIO (Biotechnology Industry Organization), PhRMA (Pharmaceutical Research and Manufacturers of America), ACRO (Association of Clinical Research Organizations) and the OPPI (Organization of Pharmaceutical Producers of India) sub-committee on Biotechnology to discuss areas of importance to the bio-sciences industry.
The discussions focused on India's strategic roadmap to capture a substantial portion of the global bio-pharmaceutical market, which is projected to be valued at $319 billion by 2020.
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USIBC and the State Government discussed sustainable models for healthcare financing and identified opportunities for USIBC's Coalition for Healthy India to collaborate in the state's growing school health initiatives.
The discussion also framed the challenges to strengthen existing IPR framework in order to enable a culture of innovation and monitor the evolving regulatory landscape with the involvement of multiple agencies in the regulation of biologics including biosimilars.
The U.S.-India Business Council, formed in 1975 at the request of the Government of India and the U.S. Government to advance commercial ties between the world's two largest free-market democracies, is hosted under the aegis of the U.S. Chamber of Commerce.
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