BUSINESS ETHICS CREATING VALUES FOR ITS CUSTOMERS & STAKEHOLDERS ARE ADVINUS’S TWIN MANTRAS
BUSINESS ETHICS CREATING VALUES FOR ITS CUSTOMERS & STAKEHOLDERS ARE ADVINUS’S TWIN MANTRAS
ADVINUS will unquestionably be recognised as India’s first true innovation-driven pharma company DR RASHMI BARBHAIYA
Dr Rashmi in conversation with Satya Brahma, Chairman & Editor-In-Chief of Pharmaleaders Group on Monday, 22nd November 2010.
Bangalore : 22nd November 2010 : He is a restless man today, back from US on Sunday, he eported to his eight-acre campus, the 180,000 square-foot building houses in Bangaore, Karnataka, India, where more than 400 scientists who provide development services to Western drug makers and agrochemical companies as Dr. Rashmi Barbhaiya , CEO and Managing Director of India’s most watched firm, Advinus Therapeutics Ltd engaged in hi-tech research & is a research-based Pharmaceutical Company founded by leading global pharmaceutical executives and promoted by the TATA Group. On facing the challenges he said “The innovative pharma industry is in its infancy in India, and we do not have a large pool of trained drug discovery or development researchers. But we are fortunate to attract a large number of experienced professionals from the US and Europe, and they provide guidance to the local pool of young, talented researchers. The availability of trained professionals with required skill sets is a major issue, particularly in the area of biology. India needs to invest in creating more academic institutions to develop and train researchers. The industry also needs to do its bit here. “
The company is the first of its kind in India to offer end-to-end development services to the global Pharma, Agro and Biotech industries and at the same time creating long-term value through internal and collaborative innovative Drug Discovery. Advinus has three operational sites. Advinus Drug Discovery, which is located in a state of the art facility in Pune (near Mumbai) is developing its own drug candidates with the objective of out-licensing them at preclinical or clinical stages. The therapeutic areas of focus of these programs are in Metabolic Diseases and Inflammatory Diseases. Advinus is also working on the discovery of novel therapies for neglected diseases such as Leishmaniasis and Malaria. Dr Rashmi says the world will witness how an Indian outfit in Indian soil will present to the world the culmination of relentless scientific drug discovery in the form of a blockbuster molecule, he however refused to divulge the details of the product in a guarded interaction with Mr Satya Brahma, Chairman & Editor-In-Chief of Pharmaleaders Group. www.pharmaleaders.co.in .
On the two leading economies of the world, India & China, Dr Rashmi clarified that China will continue to be compared – as long as we in India have a mind set of service the comparison with China will be there. If we focus on developing innovative products, this comparison will become irrelevant.
Rashmi decided at a young age that he wouldn’t follow in his father’s footsteps and become a doctor. As a boy growing up in the western Indian city of Ahmedabad, Barbhaiya chose not to accompany his father, a cardiologist, to work because he hated the smell of hospitals. He opted for a career in science instead — Barbhaiya studied pharmacology in college, earning a doctorate at the University of London before landing a plum research job with American pharmaceutical giant Bristol-Myers Co. (now Bristol-Myers Squibb) in 1980. It prepared him for his next big move — entrepreneurship — albeit more than a generation later. Notwithstanding his son is a renowned cardiologist & refuses to be in the father’s footstet – to be in Drug Discovery business. Barbhaiya co-founded Advinus in 2005 with financial backing from Indian conglomerate Tata Sons. Advinus, which is short for “Advantage India U.S.,” concentrates on researching and developing new drugs rather than generics — the foundation of India’s pharmaceutical industry. Advinus, he says, fulfilled a long-held dream to return to his homeland and build a company staffed with Indian scientists and work on developing new drugs.
Drug discovery research and development in India which is a expensive proposition & risky comprises collaborative research, basic drug discovery and development and contract services. Due to increasing cost of developing a new drug and risks involved in the process, companies are looking to mitigate risks involved. One of the recent trends is the de-merger of R&D units to unlock values. For Indian biotech companies engaged in basic pharma research, we have seen multiple filing of patent applications. Most of the filings came from companies from Mumbai, Hyderabad and Bangalore which are engaged in chemical and biotechnology-based research of new medicines. The trend in patent applications is a pointer to India’s growing stature, wherein Indian companies that were once cautious have proved themselves well versed in the game of innovation. Many Indian pharma companies have partnered for R&D and include large names like Zydus Cadila, DRL, Ranbaxy, NPIL, Biocon, to name a few. Most companies have tied up with other specialist research companies for development of new drugs on disease areas like cancer, diabetes, malaria and nervous system disorders. Challenges facing the industry revolve around manpower and early stage funding. There is severe paucity of trained personnel, the only solution being recruiting fresh graduates and training them on the job. Such a situation leads to rampant poaching of trained people from other companies.
Full text of the interview will be available in the December Issue of Pharmaleaders Magazine @ www.pharmaleaders.co.in
