"Generic To Innovative Drugs...", Kiran Mazumdar on Drug Innovation Funding and Venture Capital

Oct 14, 2026

New Delhi: On Bloomberg New Economy Forum, Biocon Executive Chairperson Kiran Mazumdar-Shaw said, "...India has already made a statement that it wants to move from generic drugs to innovative drugs. And the government has actually declared a large number of initiatives of funding drug innovation—the RDI, the BioShakti, the PRIP, and many other schemes. Government has basically committed itself to providing the early-stage capital, the risk capital, the seed capital. And I think that's going to help a lot of innovative companies and startups to start doing interesting things..." She added, "What you need now is follow-on capital from venture funds. And I think for venture funds to invest in biotech, they need an exit strategy much sooner than what we are providing today. And that's why you're not seeing follow-on venture capital..."