Hyderabad: BioAsia, the annual flagship event of the Government of Telangana, will deliberate on a range of issues plaguing the Indian Pharma sector, including the revenue loss impacting Indian companies and decreasing market capitalisation due to increasing regulatory concerns from the United States and European markets. Increasing number of import alerts and warning letters is making it difficult for Indian companies doing business in the West regions.
The event scheduled for February 22-24 is expected to witness participation of 1,600 delegates from over 52 countries with 100 high profile speakers and 500 corporates.
Shakthi Nagappan, Director-Life Sciences, Govt. of Telangana and CEO, BioAsia told Telangana Today, “Biopharmaceuticals is witnessing several challenges. The idea of the event is preparing the industry to face these challenges and embrace the change. We have five core focus areas this year-innovation, cancer diagnostics, supply chain and logistics, digital health and regulations. This is the first time the USFDA is partnering with BioAsia to hold a dedicated session on regulations.”
From the protectionist mindset of the current regime in the United States, to matters pertaining to manufacturing standards of domestic companies, the Pharma industry in India is threatened by large revenue loss over the next few fiscals. BioAsia 2018, will deliberate on the issues pertaining to manufacturing and regulatory standards to tide over a possible crisis scenario.
The State government is making all its efforts to make this event big as it readies to host the 15the edition of BioAsia this year. Ireland is the partner country. And Malaysia, South Korea, Netherlands, Belgium and South Africa are sending large delegations to the event. Governments and industry are taking part in these delegations. The global response has been phenomenal, he informed.
Nagappan said, “Over the last 14 years of BioAsia, the event platform has generated projects worth $2.5 billion. Most of these projects had been realised. Delegates from about 90 countries have participated so far. About 15,000 business meetings had been held in the past meetings.”
This year, Genome Valley Excellence Award will be presented to Professor Michael N Hall. A veteran expert from Biozentrum University of Basel, Switzerland, Professor Michael N. Hall has been bestowed with 2018 Genome Valley Excellence Award for his pioneering work in discovering the nutrient-activated TOR (Target of Rapamycin) proteins and their central role in the metabolic control of cell growth. The award will be presented to him during the inauguration ceremony of BioAsia 2018 on Thursday.
Delegates will visit M N Biotech Park and ICICI knowledge Park in the Genome Valley. The inaugural of the programme is scheduled at 6pm on Thursday. Biocon’s founder Kiran Mazumdar and other senior industry leaders from the bio-pharmaceuticals are going to take part in the CEO Conclave as well as key sector sessions.
On the exhibition front, 100 exhibitors will showcase their capabilities of which 30 are startups. These 30 startups had been shortlisted out of 130.