HYDERABAD: The 13th edition of BioAsia 2016 will be held here from next February 8 and 10. The event is being organised by the Department of Industries & Commerce, the Telangana government, Federation of Asian Biotech Associations, Pharmexcil and the Union government with the theme ‘Leveraging India to succeed globally.’
An expert committee constituted by the state government, comprising industry, academia, trade bodies, led by industries secretary, Arvind Kumar, industries commissioner and MD, TSIIC recently met to discuss the event plans.
BioAsia 2016 aims to provide impetus and act as a platform to brainstorm on emerging trends in the industry and on how to leverage potential and opportunities India offers.
As per estimates, the sector grew at a CAGR of 6.7 per cent between 2010 and 2014 to touch $77 billion in 2014. It has been witnessing growth aided by cost-effective manufacturing, improved clinical capabilities, growing health needs of large population base, exports and increasing government support among others.
With increasing pressure to reduce drug development costs and accelerate research and development programmes, MNCs have started setting up centers in Asia to take advantage of cost-effective, yet highly skilled talent pool.
India has emerged as a preferred destination for contract research and manufacturing activities, process reengineering and innovative R&D to act as a one stop solution with various enablers in place.