Published: 22nd April 2018
Pharma industry has a range of career options, says director National Institute of Biologicals
He said that the industry is expected to touch $100 billion by 2025, driven by increasing consumer spending, rapid urbanisation and rising health care insurance
Medical, dental, pharmaceutical and nursing students have a wide array of career options in drug and medical device industry and their regulation, said Surinder Singh, Director, National Institute of Biologicals, while addressing the 27th convocation of Sri Ramachandra Medical College and Research Institute on Saturday.
He said with price advantage the Indian pharmaceutical industry is worth US$ 32 billion with 50 per cent exports. He added that the industry is expected to touch $100 billion by 2025, driven by increasing consumer spending, rapid urbanisation and rising health care insurance. “India’s cost of production is significantly lower than that of US and almost half of Europe, resulting in export of drugs from India to more than 200 countries and vaccines to 170 countries,” he said claiming that Indian industry has managed to produce drugs for AIDS treatment at less than a dollar a day, when the treatment costs about 30 times more in the western world.
Pointing to a survey by the Union Health Ministry in 2014, he said about 97 per cent of all drugs sold in the country were of standard quality. He gave away gold medals to meritorious students. The Chancellor V R Venkataachalam conferred the degrees and presented certificates to 382 graduates.Vice-Chancellor P V Vijayaraghavan, said from 2018-19 academic year new courses are proposed to be started in DM Medical Oncology, M.Ch. Surgical Oncology, BSc (Hons) in Environmental Health Sciences, BSc courses in Bioinformatics, Data Sciences, Health Informatics, M Optom, MSc Biomedical Sciences, MSc Urology Technology, MSc Audiology and M Sc Speech and Language Pathology.
Bright future for Indian companies
The price advantage the Indian pharmaceutical industry is that it is worth US$32 billion with 50 per cent being exports. According to Surinder Singh, Director, National Institute of Biologicals, the industry is expected to touch USD100 billion by 2025, driven by increasing consumer spending, rapid urbanisation among others