Sign In
Learn bits
Schemes & Policies
Mahesh

27/09/23 06:48 AM IST

Promotion of Research and Innovation in Pharma MedTech Sector

In News
  • Union Health Minister Dr Mansukh Mandaviya introduced the Scheme for the promotion of Research and Innovation in the Pharma MedTech Sector (PRIP).
Features
  • The scheme has two components-
  • Component A: Strengthening the research infrastructure by establishment of 7 CoEs at NIPERs-These CoEs would be set up in pre identified areas with a financial outlay of Rs 700 Crores.
  • Component B: Promoting research in pharmaceutical sector by encouraging research in six priority areas like New Chemical Entities, Complex generics including biosimilars, medical devices, stem cell therapy, orphan drugs, Anti-microbial resistance etc., wherein financial assistance will be provided for the Industries, MSME, SME, Startups working with government institutes and for both in- house and academic research. The component has a financial outlay of Rs.4250 Crores.
Benefits of the scheme-
  • Development of Research Infrastructure- The scheme would help in building a world class research atmosphere at NIPERs and other institutes and help in creating talent pool of qualified trained students.
  • This scheme will promote industry-academia linkages by promoting collaboration between Private sector and Govt. institutes.
  • Focus on certain priority areas which will help India’s pharma industry leapfrog and radically strengthen its position in the world market as innovation accounts for 2/3rd of global pharmaceutical opportunities.
  • The scheme would help in launching of commercially viable products which will accelerate the growth of Indian pharmaceutical sector by increased revenue and creating employment opportunities.
  • The scheme would help in the development of affordable, accessible solution for primary area of health concern thus reducing health care burden.
Source- PIB

More Related Current Affairs View All

13 Nov

Healthy longevity initiative

'The World Bank report proposes a healthy longevity initiative (HLI) which takes a life course approach.' Briefly, healthy longevity entails sharply reducing avoidable death and

Read More

12 Nov

Population decline

' The Chief Ministers of both Andhra Pradesh and Tamil Nadu expressed concerns about the low fertility rates in their States recently.' Andhra Pradesh Chief Minister N. Chandrab

Read More

12 Nov

COP 29

'As the COP29 summit begins in Baku, Azerbaijan, terms such as New Collective Quantified Goal (NCQG), the Paris Agreement, Kyoto Protocol, loss and damage, and Nationally Determine

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps