Transcript: Australia as a drug discovery partner for Indian pharmaceuticals - Overview by Proteomics International
>>Richard Lipscombe: My name is Richard Lipscombe and I am the Managing Director of Proteomics International. We are a specialist bio-technology company located in Perth in Western Australia.
Seven of the top 10 selling drugs on the planet in each of the last two years are protein based drugs. They have become the mainstay of the pharmaceutical industry because of their precise mode of action. And it’s the generic copies of these drugs the biosimilars which are exciting the industry.
The growth of the biosimilars industry has been impressive. India has become one of the leading, if not the leading nation in the manufacture of these complex generic drugs. The bio similars workflow for actually manufacturing these molecules is equally complex. From establishing the production facility, to producing the material, to clinical trials and regulatory approval.
The Indian biotech sector is growing at 30% per year. This is driven by the bio-pharmaceuticals and biosimilars industries which combined create over 60% of the total revenue in the sector. And this market is going to continue to thrive because several blockbuster drugs are coming off patent at the moment and they will continue to do so in the next couple of years. Demand will continue in the established markets, so there’s a lot of commercial opportunities there and the emerging economies have an exploding need for these drugs. When you combine these tactics together it’s a great opportunity for the sector to continue to develop itself.
There is a great union of the manufacturing skills present in India with the analytical skills we have in Australia. In fact there are several synergies with the Australian industry. I would provide clones to start the process through to a highly specialised and regulated clinical trials process particularly for phase 1 and phase 2a that allows production of clinical data that is globally accepted.
This progression to new drug discovery is a logical evolution for the industry and here Australia is in an ideal position to link to India again. With innovative biotechnology companies like Proteomics International coupled with a sophisticated and highly resourceful research institution sector which is producing new innovations. We have the opportunity here to link India’s capability and capacity with the new ideas that are coming through from Australia to drive a growing industry for both countries.