The Pharmaceutical Research and Manufacturers of America (PhRMA), which represents the world’s leading innovative biopharmaceutical research companies, has expressed its support for India’s policy efforts, including advancing access to medicines and healthcare overall, as well as strengthening the system that leads to their discovery.
A PhRMA delegation, led by its chairman Kenneth C. Frazier, who is also chairman & CEO of MSD, met Indian government officials, academic experts, and business leaders to encourage support of India’s policy efforts. Frazier was accompanied by representatives from PhRMA’s European and Japanese member companies, including Hideshi Honda, representative corporate officer and Asia region president, Eisai.
Frazier said “PhRMA welcomes India’s efforts to enhance patient access to quality healthcare and strengthen the life sciences industry. This visit has reinforced my enthusiasm for India’s prospects in life sciences, and specifically the innovative medicines sector. Cultivating this potential is well aligned with Prime Minister Modi’s goals of bringing growth to India through research, innovation, and manufacturing. With the right policies put in place, and led by a government that understands the true value of innovation, India can one day become a globally-competitive leader in life sciences and biomedical development.”
PhRMA is committed to working with the government of India to provide practical and actionable solutions, based on global best practices, to help create a patient-centered, pro-innovation health care system and stimulate biopharmaceutical R&D. The biopharmaceutical industry is the world’s most research-intensive industry and a key driver of economic growth. Greater investment in R&D leads to new medicines that can extend lives and increase productivity, thereby driving greater progress and prosperity for society.
“India’s potential to be a global leader in pharmaceutical research and investment will only be realized if we can work together to build and sustain a scientific, economic, and policy ecosystem that promotes and rewards medical innovation,” added Frazier. “A system designed to foster growth and develop the innovative medicines sector requires a world-class drug regulatory framework, a thriving scientific and research community, a conducive business environment, a legal infrastructure that fosters invention, and a well-financed health care system. PhRMA looks forward to working with Prime Minister Modi and his government to turn India’s great promise into a reality.”
The visit marked the first delegation to India led by a PhRMA chairman, demonstrating the global industry’s commitment to working with all stakeholders in promoting a strong innovation ecosystem focused on improving health outcomes for the people of India.