Newsroom
Breakthrough in Domestic Production Leads to Affordable Medicines for Four Rare Diseases.
25th May 2023
In a landmark development, domestic production of medicines for four rare diseases has resulted in a significant reduction in costs, providing newfound hope for patients and their families. This groundbreaking achievement is poised to revolutionize the accessibility of life-saving treatments, marking a major stride in healthcare affordability.
Introduction:
In a bid to address the challenges faced by individuals afflicted with rare diseases, the domestic production of essential medicines has emerged as a game-changer. This initiative not only underscores the commitment of the healthcare sector to cater to diverse medical needs but also sets a precedent for other nations grappling with similar issues.
Diseases Affected:
The four rare diseases that will now see a reduction in medication costs due to domestic production include Tyrosinemia Type 1, Gaucher’s Disease, Wilson’s Disease and Dravet-Lennox Gastaut Syndrome – along with sickle cell Anemia.
These conditions, characterized by their scarcity and often intricate treatment protocols, have historically posed financial and logistical challenges for patients seeking proper care.
Domestic Production Impact:
The shift to domestic production has not only lowered the overall cost of manufacturing but has also streamlined the supply chain, making these crucial medications more readily available. This domestic manufacturing process has significantly reduced the dependency on expensive imported drugs, ensuring a stable and sustainable supply for patients.
Benefits for Patients:
The most significant beneficiaries of this development are, undoubtedly, the patients. The reduced cost of medicines translates to enhanced affordability and accessibility. Families grappling with the financial strain of managing rare diseases can now breathe a sigh of relief, as the burden of exorbitant medical bills is alleviated.
Government and Industry Collaboration:
The success of this endeavor is attributed to the collaborative efforts between the government and pharmaceutical industry stakeholders. The implementation of supportive policies, financial incentives, and streamlined regulatory processes has fostered an environment conducive to domestic drug manufacturing, with a focus on rare diseases.
Global Implications:
This breakthrough has far-reaching implications globally. Other nations grappling with similar challenges can draw inspiration from this success story, contemplating their own strategies to bolster domestic production and make essential medications more affordable for their citizens.
Conclusion:
The news of medicines for four rare diseases becoming more affordable due to domestic production marks a significant leap forward in healthcare accessibility. This achievement not only transforms the lives of those directly affected by these diseases but also sets a promising precedent for addressing healthcare disparities on a broader scale. As the world grapples with various health challenges, this development stands as a testament to the positive impact that concerted efforts in research, production, and policy-making can bring about in the quest for a healthier and more equitable future.
India has long been a key player in the global pharmaceutical market, known for its strong generic drug manufacturing capabilities. Several factors contribute to the growth potential of India’s pharmaceutical industry.
13th July 2023
Generic Drug Manufacturing:
India is a major producer of generic drugs, supplying affordable medicines to various parts of the world. The increasing global demand for generic drugs presents significant opportunities for the Indian pharmaceutical sector.
Chairman of PharmExcil (Pharmaceuticals Export Promotion Council of India) Veeramani S V said the Indian pharmaceutical industry is on a compelling growth trajectory, evidenced by an 8 per cent year-to-date increase in exports and a remarkable 29 per cent surge in October alone.
Research and Development (R&D):
Indian pharmaceutical companies have been investing in research and development activities, moving beyond generic drugs to focus on the development of innovative medicines. This shift toward R&D can contribute to the growth of the industry.
Emerging Markets:
The pharmaceutical industry in India has been expanding its reach to emerging markets. As more countries look for cost-effective healthcare solutions, Indian pharmaceutical companies can tap into these markets for growth.
Government Initiatives:
The Indian government has taken several initiatives to boost the pharmaceutical sector, including policy measures to encourage investment, innovation, and ease of doing business.
Digital Transformation:
The adoption of digital technologies in healthcare and pharmaceutical processes can enhance efficiency, streamline operations, and improve overall productivity.
Global Partnerships:
Collaborations and partnerships with international pharmaceutical companies can provide Indian firms with access to new markets, technologies, and research opportunities.
It’s essential to note that reaching a specific revenue target, such as USD 130 billion by 2030, depends on various factors, including global economic conditions, regulatory changes, and advancements in healthcare technologies. Industry projections and predictions can vary, and it’s advisable to refer to the latest reports and analyses for the most up-to-date information on the Indian pharmaceutical sector.
NEW DELHI: The government will shortly issue a notification making it compulsory for pharmaceutical companies to implement revised Good Manufacturing Practices (GMP) to improve quality in the face of children said to have died from toxic cough syrup and eye drops that allegedly caused infections.
25th September 2023
Rationale Behind the Call for Revision:
The pharmaceutical landscape is dynamic, with advancements in technology and research constantly shaping industry standards. The government’s call for revised quality norms underscores the need for companies to align their practices with the latest developments in the field. This proactive approach is crucial to address emerging challenges and opportunities in the pharmaceutical sector.
Focus on Safety and Efficacy:
The revised quality norms emphasize heightened scrutiny on the safety and efficacy of pharmaceutical products. This focus is paramount to ensure that medications meet stringent criteria, providing patients with reliable and effective treatment options. By adhering to these updated standards, companies can contribute to the overall well-being of consumers.
Adoption of Technological Innovations:
In an era dominated by technological advancements, pharmaceutical companies are encouraged to integrate state-of-the-art technologies into their manufacturing processes. This not only facilitates adherence to revised quality norms but also promotes efficiency, precision, and transparency in the production of pharmaceuticals.
Global Competitiveness:
The global pharmaceutical market is highly competitive, and adherence to the latest quality norms is instrumental in maintaining and enhancing competitiveness. By aligning with international standards, companies can bolster their reputation on the global stage, potentially opening up new markets and collaborations.
Collaborative Approach:
The government’s call also emphasizes the importance of a collaborative approach. It encourages pharmaceutical companies to work closely with regulatory bodies, industry experts, and other stakeholders to ensure a comprehensive and effective implementation of the revised quality norms. This collaborative effort can lead to a more robust regulatory framework and improved industry practices.
Consumer Confidence and Regulatory Compliance:
Building and maintaining consumer confidence is pivotal for the pharmaceutical industry. By complying with the revised quality norms, companies can demonstrate their commitment to delivering safe and effective products. This, in turn, reinforces trust among consumers and regulatory authorities.
Conclusion:
In conclusion, the government’s call for pharmaceutical companies to adopt revised quality norms signifies a proactive step towards enhancing the industry’s standards. Embracing these changes not only ensures the safety and efficacy of pharmaceutical products but also positions companies for sustained growth and competitiveness in the global market. As the pharmaceutical landscape continues to evolve, this collaborative effort between the government and industry stakeholders is pivotal for the well-being of society and the advancement of the pharmaceutical sector.
Company Info
Company Established and Achievement
Being incorporated in August 2021, Genotis formally started its operation
October
2021
Company established its first sales office at Panchkula, Haryana.
November
2021
Genotis launched its division – CARTIS offering cardio-diabetic products
In March
2022
Genotis strategically purchased industrial land at the pharmaceutical hub of Asia, i.e., Baddi, Himachal Pradesh, for its 1st manufacturing unit to offer high quality products to their customers.
In August
2022
Genotis registered as a MSME company.
In June
2023
Genotis launched its division – AlPit offering wide range of hormonal products.
In August
2023
Genotis launched its new division APT offering wide range of Neurology & Psychiatric products
In September
2023
Genotis launched its division Daycen to offer a comprehensive range of dermatology products
Awards
Genotis got nominated for INDIA 5000 BEST MSME AWARDS by Benchmark Trust” supported by Bombay Stock Exchange & TQV
Genotis successfully passed ISO 9001:2015 quality management system audit and got certified in Oct’ 2023