Collaboration and innovation is the key for healthcare and biotechnology companies to develop blockbuster drugs, said leading healthcare experts here on Tuesday.
"As global priorities shift from providing exclusive and expensive drugs to more affordable drugs, we need to focus on developing blockbuster drugs with a potential to benefit a billion patients," said Biocon chairperson Kiran Mazumdar Shaw at the panel discussion 'Making Tomorrow's Medicine' at Bangalore India Bio.
She said as 80 percent of healthcare expenses in India are borne by patients, developing country like India should invest in affordable innovation model.
At the panel discussion organised by United Kingdom Trade and Investmen (UKTI), she said as many Indian companies are focusing on innovation, they can learn from Britain's innovation ecosystem which encompasses great research institutes, innovative companies and a large scientific pool.
More than 20 British companies are participating in the 16the edition of Bangalore India Bio.
British Deputy High Commissioner Dominic McAllister said: "Making tomorrow's medicines in India using UK capabilities is aligned to Prime Minister (Narendra) Modi's vision of 'Make in India' and that inspires new partnerships between the UK and India."
UKTI Life Science sector specialist Jon Mowles highlighted Britain transformed scientific knowledge and continues to offer many clinical and commercial opportunities for many countries like India.
"Twenty-five percent of drugs in the UK are made in India and I am looking forward to meeting with Indian experts and discuss how we can make tomorrow's medicine together," he said. IANS
