The CEO of Boehringer Ingelheim, Shashank Deshpande, expresses concerns over the slow approval process for new drugs in Germany compared to other countries, and emphasizes the need for closer collaboration with India in pharmaceutical research and development.
Shashank Deshpande, the CEO of Boehringer Ingelheim, has raised concerns about the pharmaceutical research landscape in Germany, particularly emphasizing that the approval process for new medications is significantly slower when compared to other countries. This delay in bringing new drugs to market not only affects the competitiveness of Germany's pharmaceutical industry but also the overall advancement in healthcare.
During his recent visit with the German Chancellor to India, Deshpande noted the remarkable economic growth in India, which is seeing growth rates of eight to ten percent annually. This presents an opportunity for Germany and Europe to strengthen their partnerships with India, especially in the pharmaceutical sector. He articulated the importance of a strategic trade agreement that would bring the two nations closer together in terms of innovation and research in pharmaceuticals.
Deshpande expressed excitement about India's burgeoning potential in not just manufacturing generic drugs but also venturing into innovative research. He highlighted that while there are initial ideas emerging from the region, it is crucial for Germany to gain insights and possibly collaborate with Indian firms to harness this potential. The conversation around innovative advancements underlines the importance of bright minds in the industry rather than raw materials alone, reinforcing Deshpande's assertion that the future of pharma will rely on intellectual capital.
