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Rising input and logistics costs could weigh on pharma market: Kiran M Shaw

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Rising input and logistics costs could weigh on pharma market: Kiran M Shaw

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Speaking at the IBLA Jury – Navigating 2022, she said, "I think inflation is also something that will add to healthcare costs. So we need to find a balancing measure to see how we can address these issues. Otherwise, we are going to see inflationary trends in terms of our products and services."

Rising input and logistics costs could weigh on pharma market: Kiran M Shaw
Kiran Mazumdar-Shaw, executive chairperson of Biocon on Tuesday said rising input and logistics costs could weigh heavily on the pharma market.
Speaking at the IBLA Jury – Navigating 2022, she said, "I think inflation is also something that will add to healthcare costs. So we need to find a balancing measure to see how we can address these issues. Otherwise, we are going to see inflationary trends in terms of our products and services."
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Talking about the country's pharma spend, Mazumdar-Shaw said, "I certainly would like India to move up from 4 percent of the value capture of the global pharma market to upwards of 15 at least percent. To do that we have to move into innovation big time."
On innovation and R&D in the Indian pharma market, she said the country needs to improve, "I have been engaging with the government to see if we can follow the PLI scheme with a research-linked incentive scheme. So I do think we need more fund flows in R&D and we need incentives for people to seriously invest in innovation."
"When I look at healthcare and pharma sector, I am very optimistic as the world attention has focused on increasing healthcare spends and to that effect, the pharma sector is going to benefit," Biocon chief said.
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