Bharat Biotech founder bats for incentives, tax breaks for patented products and innovation at IPC

Bharat Biotech founder Dr Krishna Ella recently batted for “Research Linked Incentives (RLIs)” and tax breaks for new products based on breakthrough and patented innovation done within the country.

He was speaking to reporters on the sidelines of the 72nd Indian Pharmaceutical Conference (IPC).

“Research Linked Incentive for Indian companies is very important. I would request the ministry to give tax breaks to any product that is created from patent filed in India. It will inspire entrepreneurs to go for innovation,” he said.

Speaking at the 72nd IPC, Dr V G Somani, Drugs Controller General of India (DCGI), had said the Centre was all set to introduce a RLI programme shaped on the lines of the Production Linked Incentive (PLI) scheme to boost research and development of biotech products in the country.

Queried about the need for three doses of the COVID-19 vaccine instead of just one, Ella said his company was working on the issue.

Edits by EP News Bureau