The Department of Pharmaceuticals has called for Expressions of Interest (EoIs) from interested entities (including proprietary firm or partnership firm or limited liability partnership, startups or a company /Group of companies registered in India) for project funding under the PRIP scheme, which is designed to position India as a global leader in pharmaceutical and MedTech R&D.
Launched on August 17, 2023, the scheme has a total budget of ₹5,000 crore, with ₹4,250 crore specifically allocated for research and development initiatives. The EoIs must be submitted in digital format, with the final deadline for submission being April 7, 2025.
The Indian Pharma MedTech sector is set to undergo a profound transformation. The Department of Pharmaceuticals has invited Expressions of Interest (EoIs) from interested entities for project funding under the Promotion of Research and Innovation in Pharma MedTech (PRIP) scheme. This initiative aims to position India as a global leader in research and development within the Pharma MedTech sector.
The notification issued by Department of Pharmaceuticals (DOP) stated, “this EoI is issued for the sole purpose of obtaining preliminary information from interested entities regarding their potential participation under Component B of the PRIP scheme. At this EoI stage, the information provided will NOT be used for evaluating the entity/ project. Formal call for applications will follow soon.”
Launched by the Department of Pharmaceuticals on August 17, 2023, the PRIP scheme has a total financial outlay of ₹5,000 crore, with ₹4,250 crore specifically allocated to boost R&D investments in the sector.
The DoP has invited Expressions of Interest (EoIs) from interested entities—including proprietary firms, partnership firms, limited liability partnerships, startups, or companies/groups of companies registered in India—for project funding under the PRIP scheme.
It stated, “This EoI has been designed to provide you with an opportunity to co-shape India’s journey towards becoming an R&D innovation hub, by soliciting your inputs.”
The PRIP scheme
According to the Ministry of Chemicals and Fertilizers, the PRIP (Promotion of Research and Innovation in Pharma-MedTech) is a Research Linked Incentive (RLI) scheme designed to transform the Indian pharmaceutical sector from cost-driven to innovation-led growth. The scheme focuses on strengthening the country’s research ecosystem, fostering industry-academia collaboration in key research areas, and promoting a culture of high-quality research.
With a total budget allocation of ₹5,000 crore, the scheme is divided into two components:
Component A: ₹700 crore is allocated for the establishment of seven Centres of Excellence (CoEs) at NIPERs (National Institutes of Pharmaceutical Education and Research) in specific, pre-identified domains.
Component B: ₹4,250 crore is designated to support research initiatives in the pharmaceutical and MedTech sectors.
In the recent Union Budget for FY 2025-26 the Ministry of Finance has allocated ₹250 crores towards the PRIP scheme.
Key Funding Priorities
Under the PRIP scheme, the six priority areas that are eligible to receive the funds include-
- new chemical entities;
- Complex generics and Biosimilars;
- Precision medicine;
- Medical devices;
- Orphan Drugs and;
- Drug development for AMR.
According to the department’s order, R&D projects aligned with one or more priority areas will be eligible for funding of up to 35% of the total project cost or ₹125 crore, whichever is lower. To qualify, the applying entity must have an annual revenue of less than ₹1,000 crore for pharmaceutical companie s or ₹250 crore for MedTech firms.
The Expressions of Interest (EoIs) must be submitted in digital format, with the final submission deadline set for April 7, 2025.
