Biocon Biologics sees Biopharma SHAKTI as major boost for India’s biosimilar ambitions

Speaking to ET Now, Biocon Biologics CEO and MD Shreehas Tambe said the initiative, combined with the government’s broader focus on research, development, and innovation, could provide a strong foundation for India to build globally competitive biologics and biosimilar capabilities.

Responding to questions on how Biocon Biologics plans to leverage the Biopharma SHAKTI programme, Tambe highlighted that while reactions to the Budget have been mixed across sectors, the biopharma industry stands to gain meaningfully.

“Yes, I have been listening to the panel quite intently. Clearly, there are mixed reactions to the Budget. It is hard to make sure that everyone is happy with what has been provided for. But for the biopharma industry, clearly there are lots of positives that we can take away. Coming on the back of the RDI announcements of ₹1 lakh crore that were made just before the Budget, Project SHAKTI comes in as a shot in the arm. It is a very thoughtful programme,” he said.

Tambe also pointed out the intent behind the programme’s design and focus areas.

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“Even the acronym is very well thought out in terms of how SHAKTI is spelled out, which is Biopharma Strategy for Healthcare through Knowledge, Technology, and Innovation. So, there is a lot of thought that has gone in, even in putting the acronym together. Apart from the fact that the government’s acknowledgment that communicable diseases are of the past and non-communicable diseases like oncology, diabetes, and immuno diseases are what are here to stay, which is what we have been saying,” he added.
He further noted that the Budget has prioritised three key pillars for the sector.“It is good to see that the three main things that the government is focused on, or the Budget particularly is focused on, is one, through the RDI grant on innovation. Two, building global scale. There could be a modest layout to begin with, but there is focus on building global scale. And then to look at how regulatory structures can be tightened, so we can come up to speed with global expectations. So, all in all, I would say balanced at a broad level and very positive for the biopharma industry, with the acknowledgement of biologics and biosimilars as the new standard of care,” Tambe said.

When asked about what this means specifically for Biocon Biologics and the size of the opportunity, Tambe underscored the structural shift in global healthcare towards biologics and biosimilars.

“We have been saying for a very long time that if India wants to be successful, and we have been very successful in the generic space as a country being called the pharmacy of the world, standard of care has shifted to biologics and biosimilars over the last couple of decades. And to view this opportunity, there is over $270 billion of patented drugs that are losing exclusivity,” he said.

However, he cautioned that tapping into this opportunity requires sustained investment and scale.

“But you cannot really partake in that opportunity if you do not have the impetus to fuel innovation and to build global scale to address it. And what the Budget has aspired to do is to create that capability. Specifically for Biocon, we see this as a validation of what we have been saying, and we believe that it will build global scale companies out of India, playing to that Atmanirbhar Bharat narrative, but more importantly a Viksit Bharat narrative,” Tambe added.

Industry participants believe that if implemented effectively, the Biopharma SHAKTI programme could accelerate India’s transition from being primarily a generics hub to becoming a global leader in biologics and biosimilars manufacturing.