ISB Pharma Summit Focuses on Access, Growth & Economics

ISB Pharma Summit Focuses on Access, Growth & Economics

The Third Session comprised of a panel discussion on the theme of Economics. Speakers debated issues surrounding incentives to innovation versus challenges of affordability. A panel of industry experts, comprising Ranga Iyer, MD, Wyeth, Sanjeev Dani, Senior VP & Regional Director, Asia, Ranbaxy,

and Venkat Jasti, Chairman & MD, Suven Life Sciences, respectively brought perspectives from an MNC, a Indian Pharma company and consultancy view point. The discussion was moderated by Utkarsh Palnitkar, Partner, and Ernst & Young.

Dani highlighted the cost advantage that an aggressive home market has due to intense competition and large volumes. "Low costs and drug formulation skills are perceived as India’s leading advantage," he said.

Ranga Iyer said, "Indian Pharma industry must grow and innovate and every Indian must have access to affordable health care. He spoke on certain myths about this sector - that prices of medicines are very high, that Pharma producers charge high prices, that medicine forms a major component of health care cost, etc. "Medicines are actually cheaper than things of daily necessity like a cup of tea or an inland letter," Iyer said.

The Summit also saw an interesting talk by Dr. Ajit Dangi, Director General, OPPI, on how businesses can effectively utilize Intellectual Property Rights to create a competitive advantage for themselves. "If an Indian scientist discovers insulin that can be inhaled or taken as a pill, he will not get a patent in India because it does not increase efficiency," he said. The management of IP, according to him, should be best a 'boardroom issue and not left to scientists and lawyers'.

Club President, Sireesha Yadlapalli, in her Welcome Note, journeyed some milestones of the ISB Healthcare Club, which was constituted to form a mutually beneficial talent pool for the Indian Pharma industry, and is one of its kind in any B-school in India. The Club, this year, comprises specialized doctors and professionals with rich backgrounds in this sector. The Club this year has initiated a partnership with the Healthcare Club at Wharton and proposes to host joint speaker series and conferences in the future. "This Summit will be ISB’s first broadcast to the Wharton Healthcare Club," said Yadlapalli.

The event came to a close with felicitations to the winner of the Pharma Paper Writing Competition on various topics related to the Pharma industry - a debut event inviting papers from the best of management schools across India.

Concluded.

Contributed by -
Ms. Bhuvana Ramalingam,
Director - Communications,
Indian School of Business, Hyderabad.

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