Kapil Sibal calls for focus on developing low cost drugs
Bangalore, June 7 (UNI) Union Minister for Science and Technology Kapil Sibal today urged the stakeholders in the Biotech sector to focus on developing drugs cost of which were affordable to commonman.
Speaking after inaugurating the Bangalore Bio-2006, the country's largest Biotech show here, he said, ''it is hightime that investors should invest, keeping in mind the urgent need to find drugs for serious diseases, and at the same time it should be made available at affordable price to commonman.
Mr Sibal said public funding on inventing new drugs which have become burden on the poor people should be enhanced and expressed concern that it is very much low as compared to western countries.
The multinational companies are finding it very difficult to peg down the cost of manufacturing drugs, and looking towards India which has a large pool of talent and low cost economy.
Acknowledging that the Biotechnology was a heavy capital intensive, Mr Sibal urged the Union Government to help the private industry engaged in developing new moleclues and drugs by joining hands with them, to produce low cost drugs and drug delivery system.
Referring to the statistics that in India only one per cent of the total sales of the BT industry was being put to Research and Development, the Minister said that it is a very negligble amount and urged it should be enhanced and opined that the Government of India has a major responsiblity to mitigate the problem.
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