Hyderabad: The biopharmaceutical market witnessed a big boost on 28th April, 2019 with the city-based Council of Scientific and Industrial Research, Centre for Cellular and Molecular Biology (CSIR-CCMB) signing an agreement with India Pharmacopoeia Commission (IPC), Ghaziabad to help the regulatory process for herbal drugs and biosimilars. The ambit of the Memorandum of Understanding includes the development of biopharmaceutical reference impurities and standards, upgradation of monographs for significant monoclonal antibodies and recognition of herbal drugs based on DNA barcode examination.
In the healthcare sector, the biologics that work as drugs against diseases, also called as the biosimilars, are increasing rapidly around the world, including in India. The biosimilar market in the country, which is valued at Rs 15,000 crore, is predicted to cross Rs 2.5 lakh crore by 2030, as specified in a 2017 report of the Confederation of Indian Industry.
Owing to the rise in the consumption of herbal drugs and therapeutic proteins for the treatment of several diseases, the alliance, which came into force with early effect, is important in the country, said the CCMB.