Post-Budget reaction: Saransh Chaudhary, President, Global Critical Care, Venus Remedies and CEO, Venus Medicine Research Centre (VMRC)

The decision to come up with a new agenda to promote research and innovation in the pharmaceutical space through centres of excellence is a step in the right direction. We also welcome the move to make facilities of Indian Council of Medical Research labs available for private sector R&D as it will boost collaborative research and pave the way for advanced medical facilities. If backed by favourable incentives and concessions, these Budget announcements will encourage pharma companies to invest more in R&D through private-public collaborations. We hope the proposed blueprint for pharmaceutical research serves as the impetus to propel India to the top as a global pharma superpower through value creation based on cutting-edge research.