Artificial Intelligence a force multiplier, DRL's GV Prasad believes the best is yet to come

He believes the best is yet to come when it comes to AI. As the pharma sector delves deeper into AI applications, the potential for innovation and efficiency gains appears significant. Prasad highlighted the need for companies to invest in understanding AI at a deeper level to fully leverage its capabilities.

Prasad also addressed other developments in the pharma industry such as the perpetual challenge of pricing pressure in the generic industry. He noted that companies have responded strategically by focusing on complex generics, less competitive products, and incorporating improved technologies. Despite these measures, some companies exiting certain products have led to shortages, creating an ongoing balancing act within the industry.

"While pricing pressure will always be there, I think there is some adjustment happening. And I think the industry has responded well to that," he said.

Discussing the outlook for global markets, he said, Russia, a significant market, has not experienced disruptions despite geopolitical tensions. However, Ukraine faces challenges due to the ongoing war, causing an impact on product shipments. The Middle East, including Israel, remains relatively unaffected, with localised tensions posing minimal threats to the pharmaceutical industry.

"Overall while it's distressing to see what's happening out there, I don't think it has a serious impact on the pharmaceutical industry," he said.

Prasad concluded by mentioning that, like all generic companies, Dr Reddy's Laboratories is exploring opportunities to develop equivalent versions of high-selling products. However, patent life constraints necessitate patience and strategic planning for the future.