Promotion of Research and Innovation in Pharma and MedTech Scheme
Why in News?
The Promotion of Research and Innovation in Pharma and MedTech (PRIP) Scheme is in the news because the Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers has officially announced the second call for applications.
Basic Overview
- Nodal Ministry: It is administered by the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers.
- Launch Year: The flagship scheme was originally launched in 2023.
- Total Outlay: It features a massive total financial layout of ₹5,000 crore.
Objectives
- Shift Focus: Transition India's pharmaceutical industry from cost-based generics to innovation-driven value.
- Linkage Cultivation: Strengthen strategic institutional partnerships between private industries and academic institutions.
- Infrastructure Upgrades: Elevate institutional setups to foster premium global scientific research.
Scheme Components & Application Tracks
- Component A (Infrastructure): Dedicates ₹700 crore to build world-class Centres of Excellence (CoE) within seven existing National Institutes of Pharmaceutical Education and Research (NIPERs).
- Component B (R&D Funding): Provides financial assistance directly to industries, MSMEs, and startups working on cutting-edge research projects.
- Track 1 (Early Stage): Caters to startups and MSMEs with maximum project costs up to ₹9 crore, offering financial aid capped at ₹5 crore.
- Track 2 (Later Stage): Targets larger projects up to ₹285 crore, extending substantial backing capped at ₹100 crore per project.
Key Priority Areas
- New Medicines: Research targeting New Chemical Entities (NCE), New Biological Entities (NBE), and phyto-pharmaceuticals.
- Advanced Drugs: Focus on complex generics, biosimilars, precision medicine, and orphan drugs.
- Novel MedTech: Development of innovative medical devices not previously approved by the CDSCO.
- Other Frontiers: Antimicrobial resistance (AMR) treatments and advanced therapeutic solutions.
