Value of Innovation

Drug discovery is both a tedious and expensive process, taking as long as 10-15 years to fructify commercially, and costing $2.5 billion on average to get market authorization! Yet, innovation and new drug development are vital to satisfy the unmet medical needs of a country. This requires not just robust IPR, but other incentives as well. One such impetus happens when there is both awareness and acknowledgement of this innovation. And this is precisely what OPPI set about to do with its #ValueofInnovation initiative!

The four-phase campaign started in 2022, with LinkedIn posts highlighting the importance of R&D in the industry. Phase 2 focused on affordable treatments for critical diseases.

Value of Innovation 3.0, the third phase, launched in early 2024, created awareness of the many solutions developed for and in India by OPPI member companies, resulting in an exponential rise in quality of healthcare and delivery systems across the nation. This series featured posts about the latest innovations of member companies. It also featured a Leadership series, with posts from CXOs and leaders from our member companies, members form the relevant ministries, and other luminaries in the field, who spoke about the role of innovation, collaborations, and academia in developing medical science in India. The third part of phase 3 consisted of a Vaccine Series, #VaccinesForLife, with posts in Hindi that spoke about the importance of vaccines in protecting lives. Lastly, the IFPMA series posted about the need for robust IPR for innovation to thrive.  

The final phase of the series, Value of Innovation 4.0 emphasizes the role of Global Capability Centres (GCCs) in leveraging India's skilled workforce to meet global medicine demands. The posts spoke about how the member companies were scaling up technology and leveraging innovation to position India as a world leader in medicine. The campaign also included the release of an informative booklet with FAQs on the importance of innovation, which was released in 2024.

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