BOSTON, MA--(Marketwire - March 2, 2011) - The pressures bearing down on the global biopharmaceutical industry are forcing more companies to seek out new partners for collaboration and innovation. India, with its vast pool of R&D resources and capabilities, along with its growing demand for biopharma products, presents very attractive opportunities.
"India is an increasingly vibrant hub of biopharma activity," said Kim Wagner, a BCG senior partner. "It boasts a large number of R&D-focused companies and a wealth of scientifically trained individuals. To date, however, most of the partnerships between multinational and local Indian biopharma companies have been largely opportunistic and transactional rather than strategic and multiyear."
Why isn't more happening? That will be the central question addressed at this year's US-India BioPharma & Healthcare Summit, to be held June 23 at the Hyatt Regency Hotel in Cambridge, Mass. The summit -- which will bring together more than 300 senior executives from the health care sector, investment community, government, and academia -- will explore opportunities for, and barriers to, closer collaboration between MNCs and India's burgeoning biopharma industry.
As "knowledge partner" of this event, The Boston Consulting Group (BCG) will provide relevant research on a range of issues, including strategies and business models for biopharma innovation, challenges facing the global biopharma industry, perspectives of MNCs and their vision for India versus other locations, the capabilities of Indian companies, and the constraints they face when it comes to forging closer ties with foreign companies.
BCG's research will also illuminate how the growth of domestic demand -- fueled by India's economic expansion -- could influence the strategies of MNCs. Some biopharma companies have already responded to this opportunity. For example, in 2007, Syngene International, a subsidiary of Indian biotech company Biocon, formed a relationship with Bristol-Myers Squibb to operate an R&D facility for BMS in Biocon Park, Bangalore. More recently announced partnerships include those between Sanofi-Aventis and Glenmark Pharmaceuticals and a series of deals between Pfizer and Biocon to market biosimilar versions of insulin for diabetes worldwide. Diabetes will be the disease focus of this years' conference. One of the panels will discuss the science, research trends, investments, and market opportunities of diabetes R&D.
Bart Janssens, a Mumbai-based partner in BCG's Health Care practice, said, "We're thrilled to be working with the USA-India Chamber of Commerce on this important event and topic. We hope the perspectives we bring will help fuel candid debate among senior decision-makers regarding the potential opportunities and practical strategies for international R&D collaborations." Karun Rishi, president of the USA-India Chamber of Commerce, added, "Our annual summit is a purpose-driven initiative to foster innovation and partnerships in the global biopharma industry. We are confident that summit participants will benefit from the deep industry knowledge that BCG will provide."
For more information about the conference, please contact info@usaindiachamber.org or visit www.usaindiachamber.org.
To provide input on BCG's pre-summit research, please contact Bart Janssens at janssens.bart@bcg.com or +91 (22) 6749 7153.
About The Boston Consulting Group
The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 71 offices in 41 countries. For more information, please visit www.bcg.com.
About the USA-India Chamber of Commerce
The USA-India Chamber of Commerce (USAIC) is a premier bilateral chamber of commerce. USAIC's four-point agenda is trade, investment, policy, and advocacy. USAIC has created an innovation-driven ecosystem in which all stakeholders -- industry, academia, investors, and policy makers -- meet to learn, share, deliberate, network, and benefit. This unique platform creates mutually beneficial opportunities and relationships for the global and Indian industry necessary to take the biopharma and health care business to the next level.