Biopharmaceutical Competitiveness & Investment (BCI) Survey

India has been ranked 19th out of 28 nations in the Biopharmaceutical Competitiveness & Investment (BCI) Survey.

Q A
Context: India has been ranked 19th out of 28 nations in the Biopharmaceutical Competitiveness & Investment (BCI) Survey.
What is Biopharmaceutical Competitiveness Survey (BCI)? It is a survey of 28 nations on the bio-pharma, commissioned by the Pharmaceutical Research and Manufacturers of America and executed by the Pugatch Consilium. It was third edition of survey.
What is the objective of the survey? The objective of the BCI Survey is to provide a comprehensive snapshot of different countries’ attractiveness for biopharmaceutical investment, derived from the firsthand knowledge of experts and investors operating in each country.
What are the parameters used for the survey? Five metrics were used to determine rankings of countries. They are

1. Scientific capabilities and infrastructure.

2. Clinical research conditions and framework.

3. Regulatory system.

4. Market access and financing.

5. Effective intellectual property protections.

It had looked at biomedical innovation and its influencers, like intellectual property protection for investments in the pharmaceutical sector. It had categorized countries into two Groups viz. mature markets like UK US, and Germany, and newcomers like China, India and Brazil.

Key Highlights of Survey 1. The list has topped by United States, followed by UK and Switzerland.

2. Mature markets provide advanced intellectual property protection, highly streamlined regulatory framework and favorable tax conditions with some exceptions.

3. India, along with China, Argentina, Colombia, Russia, Turkey and Brazil based on their overall score were labeled as trailing markets.

4. Singapore which has placed in the newcomers category with a score of 85 is only a point behind the US, which is a mature market.

5. India has been ranked 19th out of 28 nations in the Biopharmaceutical Competitiveness & Investment (BCI) Survey, with an overall score of 59 out of 100.

6. India scores low on almost all metrics except in the clinical research conditions and framework and scientific capabilities and infrastructure.

7. India’s IP regime, including Section 3(d) of IP Act requiring biopharmaceutical inventions to show ‘enhanced efficacy’, continues to affect its investment environment

8. Survey opines “local executives indicate that India’s current draft bio-similar guidelines deviate from WHO (World Health Organization) guidelines and international standards in several areas (including in relation to the scope and timing of clinical trials and criteria for reference products and manufacturing sites) and if implemented as such could detract from India’s investment competitiveness”.

What is PhRMA? The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research and biotechnology companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested more than $600 billion in the search for new treatments and cures. It looks at biomedical innovation and its influencers, like intellectual property protection for investments in the sector.

Write Your Review