The position paper, Indian Pharmaceutical Industry 2021:
future is now, has been written with an objective to reassess
the Indian pharmaceutical industry’s positioning in the world
order, define India’s ambition by 2030 and identify a set of
imperatives for all stakeholders to realize this ambition.
The pharmaceutical industry, along with the healthcare sector
globally, has been impacted in an unseen way due to the
outbreak of the COVID-19 pandemic leading to material impact
around consumer requirements and preferences accompanied
by macroeconomic, structural and microeconomic changes
in the end-to-end value chain. In the midst of the pandemic
and a changed world, the pharmaceutical industry across
the world has responded with agility — from the sequencing
of the novel coronavirus in January to vaccines being
administered to the first recipient in the United Kingdom by
December 2020, with efficacy levels over 90%, exceeding
all expectations of governments and markets across the
world. This innovation has been possible owing to the most
extraordinary global efforts: collaboration like never seen
before, redeployment of resources and sharing of data on a
real time basis. Barring the pace, which is critical in a public
health emergency (progressing Phase 3 clinical trials with
limited adherence to traditionally established safety norms),
the blueprint has been developed to fast-track innovation with
a complete imperviousness to financial stakes. This includes
collaboration around resources and data sharing, nimbleness
and productivity through adaptation of newer technologies
and most importantly balancing risks across stakeholders.
Healthcare is likely to be on top of the strategic agenda across
geographies. The pharma industry will be closely monitored by
governments in all countries in times to come.