Israel-based Biolight Lifesciences to introduce cancer-diagnostics products in India
Archana Aroor, Mumbai
Friday, December 12, 2014, 16:30 Hrs [IST]
Israel-based Biolight Lifesciences Investments Ltd, which develops drugs for weight management and for blocked allergies through its subsidiary companies, sees its potential to introduce its cancer-diagnostics products in India. The company is planning to launch its products in the next couple of months.
"We will be happier to shift our focus from the US, to sell our products to India designated in particular to cervical cancer as we see a huge potential in the Indian market. This is mainly because of the increase in the number of deaths of many women in India due to cervical cancer than in the US," says Suzana Nahum Zilberberg, chief executive officer, Biolight Lifesciences Investments Ltd.
According to reports, Cervical cancer is the leading cause of cancer deaths among women in India, with approximately 1.32 lakh new cases of cervical cancer being diagnosed and about 74,000 deaths occurring annually, accounting for nearly one-third of cervical cancer deaths across the world.
India represents 26.4 per cent of all women dying of cervical cancer globally, with China, Bangladesh, Pakistan, Indonesia and Thailand.
Suzana was one of the panelists at the Seventh India-Israel Innovation Colloquium organised by Confederation of Indian Industry (CII), Ananta Centre and Tel-Aviv University (TAU) under the chairmanship of Israel Makov, Chairman, Sun Pharmaceuticals and S Ramadorai, vice chairman, Tata, Consultancy Services in Mumbai.
Suzana stressed that the process may be slow due to already-existing hurdles in the Indian healthcare segment, such as the regulations, patent etc. However, the company is confident to overlook these areas as they possess CE approvals for their products that would pave a smoother way to cover the market.
Further, she added that the company was yet to draw a new paradigm for investments.
The Colloquium encompassing other panelists namely Bart Janssens, director, The Boston Consulting Group, Dr Hardar Ron, managing partner, Israel Healthcare Ventures, Israel Makov, chairman, Sun Pharmaceuticals, Yishai Potack, sales and BD manager, ReWalkk, Dr Adheet Gogate, senior director and India Head, Philips Healthcare Transformation Services and Zeena Johar, president, IKP Centre for Technologies in Public Health discussed the future of healthcare and the joint -potential to invest in the healthcare segment.
"By developing an intrinsic worth to the relationship based on the natural talents of the two peoples, its future appears assured and seeks the right-set of people to see innovations in the healthcare sector," says Dr Hardon Ron.
Dr Ron highlighted that the in such strange area of healthcare segment, today the trend in the developing and the emerging market was that the people going to doctors office directly was increasing due to the cost-affordable medicines than to the hospitals & clinics. People expect to receive cheaper solutions for the problems. Price is seen as a basic hindrance as the Israeli-technology is expensive to buy for the Indian companies.
"This means that we need to bring-in huge solutions with more collaborations and technology to provide different solutions in the healthcare," adds Dr. Ron.
Another significant challenge raised by the panelists was the cultural and psychological factor as Israel was more global and India was struggling to establish- people-people contact, in particular with rural areas.
Mokov stressed that to meet the ongoing challenges, it was important to create more meeting places to tap the knowledge that the two countries had to offer and to look at the opportunities for investments.
Around 200 delegates from different sectors such as the technology, pharmaceuticals, academics, research attended the Colloquium.