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Pharma sector awaits Budget 2024 for innovation boost and regulatory reforms

Express Pharma

We believe that implementing a fresh PLI scheme for vaccines and biopharmaceutical raw materials is vital now to put the focus back on value-added domestic production with India-for-India and India-for-the-world production. This would stimulate new investments in both R&D and production initiatives.

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Budget expectation: Bring GST rate on APIs at par with the formulations

Express Pharma

The government has also introduced schemes to promote medical device parks and bulk drug parks with financial grants across different Indian states. million nurses/midwives in the total stock by 2030. A recent WHO report estimated a shortage of about 1.8 million health workforces in India and suggests that to meet the threshold of 34.5

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Optimising spend, maximising growth

Express Pharma

Vaccines, which typically require years of development, were birthed in a mere 12 months, proving that necessity is the mother of invention, and possibly a rather impatient mother at that. The industry, valued at $220 billion, is expected to reach $300 billion by 2030 and potentially $1 trillion by 2040.

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