Prelims: Current events of national and international importance
Why in News?
The Budget envisions the Biopharma SHAKTI scheme with an outlay of Rs. 10,000 crores over the next 5 years.
Biological medications are used to treat severe conditions like cancers, autoimmune diseases (arthritis, IBD, psoriasis), and genetic disorders. These tend to be complicated to purify, process and manufacture.
India’s position in pharmaceuticals
Reference