Frost and Sullivan to hold summit on Lifesciences sector

Mumbai, Jun 18 (UNI) Realising the importance of Public Private Partnership (PPP) in exploiting the life sciences research in India to its full potentials, the healthcare Practice of Frost and Sullivan, a global growth consulting company, is for the first time organising a one-day Summit in New Delhi on July four.

The event "Public Private Partnership Summit 2008 -- Nurturing Public Private Partnerships in the Lifesciences Sector in India", would bring together different stakeholders in PPP, including the academia, industry and government representatives to highlight the success stories in the PPP space and also to address some of the issues that have prevented the optimal usage of the PPP concept.

According to a Frost and Sullivan release here, the summit will touch upon the infrastructure trends in the lifesciences sector, various successful models that go beyond the traditional technology transfer agreements, challenges associated with setting up a PPP program and also ways of financing Resarch and DDevelopment (R&D) and Infrastructure Development Programmes.

The Keynote address of this summit will be delivered by Dr Samir L Bramhachari, Secretary, Department of Scientific and Industrial Research and Director General, Council of Scientific and Industrial Research (CSIR), Ministry of Science and Technology.

Frost and Sullivan said India had a huge network of research institutes and universities with the necessary infrastructure and knowledge to undertake R&D, and the private sector has a vast pool of knowledge and know how to grow in this sector. By combining the low cost manufacturing skills of the industry and the R&D strengths of the research institutes, the lifesciences sector in India has the potential to be a global leader.

Public Private Partnership (PPP) in the lifesciences space allows companies to leverage the knowledge and capabilities present within the institutes to rekindle their product basket, for the research institute.

This offers the benefit of commercialization of novel inventions or processes that have the potential to generate additional revenues for both researcher and institute. Enormous benefits and the initiatives are taken to encourage PPP in India, but the number of PPP's do not justify the resources allocated for this purpose.

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