Pharmaceutical industry hails Budget; says proposal will promote research, innovation

February 7, 2023by Press Trust Of India

The pharmaceutical industry on Wednesday hailed the Budget terming it a step in the right direction to promote research and innovation in the sector.

Sun Pharma Managing Director Dilip Shanghvi said the pharmaceutical industry’s request to incentivise and encourage R&D investments has been granted.

“The new Centres of Excellence programme, aimed to promote R&D in pharma, will encourage investment opportunities that will fuel innovation in the sector. It will not only begin to unleash the high potential of India’s rich scientific talent, this will further encourage the industry to invest in R&D,” the industry leader noted.

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