Govt offers startups up to ₹50 cr for new drug discovery under pharma scheme

What happened: India's Department of Pharmaceuticals opened a second round of applications under its PRIP scheme, offering startups and MSMEs up to ₹50 crore each for new drug discovery. Key numbers: Up to ₹50 crore per award. Total outlay ₹5,000 crore: ₹700 crore for Centers of Excellence at seven NIPERs, ₹4,200 crore for R&D investment. Scheme runs to FY 2029-30. Why it matters: The new Discovery Track targets funding shortfalls small firms face moving from lab research to advanced experimental stages, and aims to bring institutional capital into drug development.

India's Department of Pharmaceuticals opened a second round of applications under its PRIP scheme, offering startups and MSMEs up to ₹50 crore each for new drug discovery.

The new Discovery Track targets funding shortfalls small firms face moving from lab research to advanced experimental stages, and aims to bring institutional capital into drug development.