Dr. Reddy’s Laboratories is always on a research mode with respect to drug discovery. And lately it is looking ahead to take the help of latest technologies for the purpose. It is seeking to revolutionize drug discovery by using Artificial Intelligence (AI), Machine Learning (ML) and other advanced technologies.
Deepak Sapra, the CEO of API & Services at Dr. Reddy’s, appreciated the advanced technologies and highlighted the benefits of AI and ML in drug discovery. He emphasized in his keynote address at a summit on digital transformation in engineering and manufacturing lately.
Sapra said that the drug discovery is a lengthy and expensive process. It usually takes 10 to 15 years. It simultaneously cost around two billion dollars. However, the success rate remains less than 30 percent in most cases. It is the time to use innovation and collaboration process powered by technology to tackle the scenario.
Sapra further said that modern healthcare is increasingly becoming mobile and smartphones are becoming powerful diagnostic tools.
Both AI and ML can process vast amounts of data quickly and accurately. Hence, the new technologies are becoming ideal for speeding up the drug discovery process. The technologies can help in identifying potential drug candidates more efficiently and simultaneously predict the effectiveness. Moreover, the cost involved will be far less.
Plural Technology founder and CEO Sunil Savaram highlighted at the summit the disparity in research and development (R&D) spending. He said that India spends only 0.8 percent of its profits on R&D while it is 5.2 percent in South Korea. This means that more opportunities are there for Indian companies to invest in R&D and leverage AI, ML and other technologies to drive innovation in the pharmaceutical industry.
