New Delhi, July 14 -- The news that Glenmark Pharma has, via a wholly owned subsidiary, signed an exclusive licensing agreement worth hundreds of millions of dollars with US-based AbbVie for a new experimental cancer treatment is most welcome.

It is time Indian pharma moved up the value chain from producing cheap generics-drugs whose patents have expired and can be made by companies other than their originators and licensees-and started creating new lines of therapy.

Also Read: Glenmark unit clinches $700mn licensing deal for its cancer drug

The industry should come up with entirely new molecules, identify new purposes for old ones, personalize medication at the genomic level, set modern tech-derived protocols and innovate with gene ed...