Sun Pharma, India’s largest drug maker, said it expects its innovative products to garner $1.5 billion in sales in the next 3-4 years.
Dilip Shanghvi, managing director of
said about 12%-13% of the company’s turnover comes from innovative products, and growing three times faster than the generics business.
Sun Pharma’s innovative pipeline includes specialty therapies such as psoriasis treatment Ilumya, ophthalmology drug Cequa, among others. The company is also investing in biosimilars and specialty drugs.
“We wish to become relevant also in innovative products,” said Shangvi, speaking at panel discussion with other top pharma executives at the Global Innovation Summit – 2021, organised by Indian Pharmaceutical Alliance (IPA).
Satish Reddy, co-chairman of Dr Reddy’s said 13 innovative products targeting immuno-oncology are in various stages of development. Reddy said the company wants to have 20% of its revenues coming from innovative products next 10 years.
Reddy said the government should give impetus on creating research and innovation hubs, triple or quadruple the research grants under the government’s National Research Foundation (NRF) and reinstate the weighted tax deduction to scientific research. The government in the budget 2021 announced an allocation of Rs 50,000 crore over a 5 year period to boost the research ecosystem in the country.
Nilesh Gupta, MD of Lupin said the company aspires to generate 20% of its revenues from innovation.
“It will take 10 years to get there, but that is the intent,” Gupta said.
Glen Saldanha, said his company has been pursuing drug discovery for two decades.
“We brought an innovative SGLT-2 inhibitor called Remogliflozin for treating diabetes to India, and developed 5-6 drugs both biologics and small molecules,” Saldanha said.
Indian drug companies who are basically built on copycat drugs or generics, are trying to shift gears to drug discovery and innovation. But the shift hasn’t been easy due to high risk and capital investment and low success rates.