Union Budget 2022 | We were expecting some incentives for Pharma R&D: Kiran Mazumdar Shaw

Public investment was very low in this critical area of research and innovation, says Biocon chief

The industry was expecting some incentives for Pharma R&D in the budget as public investment was very low in this critical area of research and innovation, said Kiran Mazumdar Shaw, Chairperson, Biocon & Biocon Biologics.

“We were expecting some incentives for Pharma R&D in the Budget as public investment is very low in this critical area of research and innovation, which are key for spurring exponential economic growth,’‘ she reacted.

The finance minister has assured the government’s support for R&D expenditure in sunrise areas such as drones, AI, genomics, space and clean energy etc, she said adding, “We will need to see the fine print if there is anything on pharma.’‘