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Topic – Indigenization of technology and developing new technology
5) What are biosimilars? Analyze why focussing on biosimilars will be advantageous for Indian pharma industry?(250 words)
Why this question
The article highlights the challenges faced by pharma manufacturers in India and how biosimilars provide a good opportunity for them. Biosimilars have gained in importance in recent years and our ability to indigenise this technology would play a key role in the future of pharma sector in India.
Key demand of the question
The question expects us to first explain what biosimilars are along with its properties. Next, we need to bring out the challenges faced by pharma industries in India. Thereafter, we need to highlight the opportunities and challenges presented by biosimilars for the pharma industry in India. We need to conclude with the way forward.
Analyze – When asked to analyze, you have to examine methodically the structure or nature of the topic by separating it into component parts and present them as a whole in a summary.
Structure of the answer
Introduction – Give the overall impact of pharma industry on Indian economy and mention that it is one of the pillars of Indian economy both on account of its contribution to India as well as it’s role in making India the pharmacy of the world.
- Explain what biosimilars are.
- Discuss the issues plaguing pharma sector in India – consolidation in the industry, competition from Chinese manufacturer, decreasing price of medicines requirement of Indian pharma manufacturers to create new market.
- Discuss the opportunities and challenges presented by biosimilars to the pharma manufacturers. In opportunities, one can highlight the huge application, advantages offered by biosimilars etc. In challenges, one needs to bring out the lack of regulations, need for forming new partnerships to make it commercially viable etc
Conclusion – Summarize the advantages offered by biosimilars to Indian pharma manufacturers and discuss the way forward.