Shakthi M Nagappan, Chief Executive Officer, BioAsia, said, “We are glad to have UK as our partner. India and UK have lot to offer to each other in lifesciences sector. Both the countries understand the importance of innovation in life sciences which is also our theme for BioAsia 2014. Overseas organisations own more than over 35 per cent of patents in the UK compared to 12 per cent in the the US and less than four per cent in Japan. So we are sure this association will prove fruitful for both the parties.”
BioAsia 2014 will be held at the Hyderabad International Convention Centre Hyderabad from February 17 to 19 February 2014. The 10th edition of this industry event witnessed partnership with countries like Spain and Australia. With the partnership of UK, BioAsia 2014 will witness delegates, regulatory body representatives, industry captains, high profile speakers, etc, from both the countries participating in the event.
“Britain and India are natural cultural, social, commercial and scientific partners. Our aim is to build a stronger, wider, deeper relationship based on shared culture, values, and strategic interests. BioAsia has evolved over the past decade to present more opportunities to expand business and to enhance bilateral relationships. With the focus being on innovation in the eleventh BioAsia, it makes it even more appropriate for the UK to partner. UK and India have inherent strengths in life sciences and bringing them together will drive significant developments in the life sciences and healthcare sector,”said Andrew McAllister, British Deputy High Commissioner.
McAllister pointed out the key highlights of UK lifesciences industry. “We are making it more attractive for companies to invest in the UK innovation through the introduction of schemes like: the Patent Box, which from April last year will have a 10 per cent rate of corporation tax for profits attributed to patents; by improving the R&D Tax Credits for SMEs; and by creating a more enabling regulatory environment. Joint investment in research has increased substantially over the last three years, making it the fastest growing bilateral research relationship for the UK. The portfolio of agreed joint funding on research now totals £150 million, up from just £1 million four years ago,” he added.
“UK is by far the most popular business destination in Europe for Indian companies. 700 out of the 1,200 Indian firms in the EU operate from the UK. A number of Hyderabad-based life sciences and pharmaceuticals companies have set up successful businesses in the UK and are growing. Examples include Dr Reddy’s, Aurobindo Pharma, Vivimed Labs and Nandan Biomatrix among others. The biotechnology sector is one of the fastest growing knowledge-based sectors in India. So definitely there is ground for cooperation and synergy,” said K Pradeep Chandra, Principal Secretary, Dept of Industries, Government of Andhra Pradesh.
BioAsia 2014 will provide the right global platform for the country partners to interact with the lifescience leaders and key stakeholders. The key elements of these interactions will be breakfast meetings, b2b partnering meetings, delegations and trade body level meetings.
EP News Bureau – Mumbai