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The Editorial

Hippocrates himself would, today, be surprised at the astonishing speed with which Medicine has revolutionized itself. Gone are the days when diseases were generalized and treatments meted out were not specific. We have entered an era where technology has the power to pinpoint the cause of diseases at the genetic level and then can proceed to recommend therapies that would specifically repair these aberrations. The Human Genome Project has unraveled the mysterious ways in which the genes function and made way for extensive research related to it. Cancer is no longer considered a disease linked only to environmental factors. Scientists have discovered that some forms of the disease like Breast cancer & Ovarian cancer can occur due to genetic factors as well. Due to this interdependence, Scientists are looking at therapies that will work at the genetic level like Pharmacogenomics, Gene Therapy, Stem Cell Therapy, Antisense Therapy, etc. With this emerging new arena in sight we have thus dedicated this issue of The PUMBA Gazette to Oncology and its prospective treatments. To broaden our horizons on this topic we personally interviewed Oncologists in Pune and got their perspective on the reasons of unavailability of Cancer drugs and what the pharmaceutical companies are doing to remedy this issue. Taking the theme further we interviewed Mr. Manish Pungaliya, Director Ayugen Biosciences in order to understand the scope of Pharmacogenomics in Cancer Treatment. Also included is an article on the current Cancer treatments that are available to patients. The periodical for this edition elaborates on the host of alternative cancer therapies that are replacing the conventional treatments that were once thought as irreplaceable. The BT news section focuses on the ban on Nimesulide and phenylpropylamine drugs in India and on the huge setback to the eagerly awaited oral insulin by Biocon. We wind up the edition with PUMBA News bringing you all the happenings that have taken place here in PUMBA.

“Reading maketh a full man; conference a ready man; and writing an exact man.” - Francis Bacon Sincerely Yours, Editor-in-Chief: Chime Y. Mishra (MBA Biotechnology - SEM IV) The PUMBA Gazette Team (The detailed project report shall be provided on enquiry. Kindly send in your enquiries at thepumbagazette@gmail.com)

Contents

• Cover Story 2

-- Cancer Drugs Available... But Unavailable...

• Article 4 -- “Onco”ntrol

• ‘Innov’Era 5 -- ‘Can’cer Treatment: A Reality!!!

• The Industry Buzz 6 -- NoMoreSulide -- Biocon Suffers a Setback as Oral

Insulin Trials Fail

• Candid Talk 7 -- An Interview with Mr. Manish

Pungaliya

• PUMBA News 8 -- Dhruv ‘11 -- Nostalgia 2011 -- National Seminar 2011 -- Yukti

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Cover Story

CANCER DRUGS AVAILABLE… BUT UNAVAILABLE… The Oncology market has grown at more than double the rate of global pharmaceuticals, with a CAGR of 8.39% during 2004–’08. But does the ultimate cause of any drug development actually being achieved? Even with this increase in the available drugs as well as reported cases, are these drugs reaching the final consumer i.e., the Patient? It is a rarely asked question but an important one in analyzing the role of pharma companies in contributing to the oncology treatments. It was the main objective of this month’s survey by the PUMBA Gazette team i.e., to assess the availability of cancer drugs to patients in all terms: drug development, market capture, cost factor, lack of quick approvals and withdrawals. The oncologists in the Pune region were interviewed to gather the information on the availability of drugs, the reason for this non availability and chiefly the role pharma companies are playing in making these drugs available to patients. AVAILABILITY OF DRUGS The most incident cancers in Pune were found to be breast, cervical, oral and lung cancers with the most recovered one to be breast cancer due to ample drugs

available on the basis of an analysis on the availability of drugs for certain types of cancer. Drugs are ample for Lymphoma too. However, the drugs are found to be just enough for the treatment of lung cancer, prostate cancer, ovarian cancer, colorectal cancer and leukaemia. According to oncologists the drugs are scarcely available for treatment of pancreatic cancer. REASONS FOR NONAVAILABILITY Most of the doctors think high drug costs to be the chief reason for unavailability of the drugs followed by non development and lack of approvals and trials duration. There are many indications for which we don’t have any

kinds of drugs yet or if they are being developed the long duration between the approvals and the commercial availability is the negating factor as many lives are lost due to lack of treatment in this duration. Some also find one of the reasons to be the withdrawal of the drugs

which were found effective for disease curing owing to the potential side-effects. E.g. Mylotarg of Wyeth which was approved under the accelerated approval program of FDA used for the treatment of relapsed acute myeloid leukaemia (AML). It has been withdrawn owing to lack of any additional clinical benefit and increased toxicity when administered with chemotherapy. Another of the main reasons was also found to be that a few drugs have not yet been approved in India depriving Indian patients of the benefits. COST FACTOR According to the survey of the PUMBA Gazette team, in Pune region, almost 70% of the oncologists think that the drug price being high affects the percentage of patients recovering from cancer (recovery percentage). The oncologists have almost 80 % of the patients visiting them for treatment from lower and middle economic strata (35% Low, 45% Middle). With this high share of economically not well-to-do patients with not much of income to spend in the costly cancer treatment, many patients die untreated or have to withdraw in the middle, i.e., less recovery percentage. A study proves that the newly developed drugs are costing even higher than the already available drugs. Some of the newly-approved brands cost USD 150-500K per life year gained.

This and many more studies suggest that the drugs’ reach to the economically backwards is reducing. Ironically, with the development of newer drugs this class of society

“...the addition of ixabepilone to capecitabine (Xeloda) adds about $31,000 to the overall medical costs of metastatic breast cancer while providing

about 1 more month of ‘quality-adjusted’ survival”. Journal of Clinical Oncology, May 1, 2009.

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is getting even more deprived of treatment due to high costs. WHY THE COSTS ARE HIGH? Almost 50% of doctors directly blame the high costs of drugs on the pharma companies saying that the motive behind such high prices is just high profit as they are ultimately doing a business and they are in business to add to their bottom line inconsiderate to the fact that these drugs are necessities which need to reach more and more people. They also think that the unavailability of any alternative also adds as an advantage to the companies’ high profit motive until any competition comes up. An equal number of respondents do not blame it on the companies directly but the need to recover the huge costs companies have put into the research and development of these drugs as a reason behind the high prices. ARE COMPANIES DOING ANYTHING? A 29% of the oncologists’ perception is that the pharma companies are just profit oriented and are not playing any role in the drug reach increase. But a good 71% think that even being profit oriented some initiatives are being taken by the companies so as to make the drugs reach more and more patients. They have rated Pfizer, BMS, Roche, Cipla and Novartis to be a few companies active in doing so along with Intas Pharmaceuticals, EliLilly, Dr. Reddy’s Laboratories and Innova Healthcare. Thirty percent of oncologists say that the companies are giving free samples to the patients so as to make it reach the poor. E.g., Novartis’ Gleevec®/Glivec® have been provided free to the needy patients in India through the

Glivec International Patient Assistance Program (GIPAP). Patient friendly company policies, reduced costs and accelerated approvals are few other initiatives by the companies. Generics are a very good advantage for the patients as they are the cheaper substitutes to their branded counterparts with the similar affectivity. A few companies are also involved in inducing voluntary price caps on their drugs like Genentech had a price cap on Avastin at $55000/ year for households having income

less than $75000/year before its withdrawal. Amgen has a price cap on Vectibix™ in USA since 2006 at $4000/ dose, approximately 20% less than the other antibody on the market (BMS’s Erbitux®) for metastatic colorectal cancer. Another of these initiatives are the Pay-for-Performance programs, e.g., in Britain, Johnson & Johnson offered a money-back guarantee if Velcade failed to reduce tumours by at least 25%. However, Indians are still waiting for any such price cap initiatives. . The accelerated drugs approvals have been beneficial but a few people debate that whether accelerated approvals are improved access to therapeutic breakthroughs or early release of unsafe and ineffective drugs? This question is going to remain as we have examples on both the facets. Mylotarg was approved in 2000 came out to be ineffective and withdrawn in June 2010 and Cetuximab was approved under accelerated approval program in March 2004 for the treatment of patients with metastatic colorectal cancer had till yet been proved good with a few non fatal side effects only. There are several Patient advocacy groups also who assist people in accessing the drugs through expanded access programs and compassionate use programs which allow patients to receive investigational drugs earlier than phase III of the clinical trial process i.e., earlier than the FDA approval. When patient advocacy groups learned that Herceptin was showing promise in clinical trials, they pressured the manufacturer, Genentech, to provide the drug early to certain patients. WHAT SHOULD COMPANIES DO? Many doctors suggest that the companies should focus more on research and development and the multinationals should have their research centres in India as the cost of drug development is found to be lesser in India. The trials should be on larger scale involving more and more people. The costing should be caps based done on the basis of class and economic conditions of patients being served. The rural market should be targeted as a majority of population stays there and the facilities should be provided to them not only getting the companies reach more and more patients but also a good-will creation in a larger mass. Many people lack awareness so awareness programs could be a major benefit to both the sides. Another way to reduce costs is through licensing and supply deals across countries and such collaborations which will finally reduce the costs pressure on the patients. The parallel drug applications i.e., a single drug to be applicable to other indications could also be a good way to increase availability, so research should be directed in these directions as well. Compiled By: Richa Vijayvargiya, Shomali Naranje (MBA-BT SEM IV) Apoorva Joshi, Ektaa Sharma, Neha Shedge, Gurudeep S. Dodmani, Vinay Pantulwar (MBA-BT SEM II)

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Article

“ONCO”NTROL

Cancer vaccines are medicines that belong to a class of substances known as biological response modifiers. Biological response modifiers work by stimulating or restoring the immune system’s ability to fight infections and diseases. There are two broad types of cancer vaccines: * Preventive (or prophylactic) vaccines, which are intended to prevent cancer from developing in healthy people. * Treatment (or therapeutic) vaccines, which are intended to treat an existing cancer by strengthening the body’s natural defenses against the cancer. Active Clinical Trials of Cancer Treatment Vaccines by Type of Cancer: Bladder Cancer Brain Tumors Breast Cancer Cervical Cancer Hodgkin Lymphoma Kidney Cancer Melanoma Multiple Myeloma Leukemia Lung Cancer Non-Hodgkin Lymphoma Pancreatic Cancer Prostate Cancer Solid Tumors

Active Clinical Trials of Cancer Preventive Vaccines by Type of Cancer: Cervical Cancer Solid Tumors

Worldwide, there is the potential to prevent 1.8 million cases of cancer (18%) each year by fighting infections. The proportion is even larger in the third world, where an estimated one in four cancers is linked to infection. The U.S. Food and Drug Administration (FDA) has approved two vaccines, Gardasil® and Cervarix®, that protect against infection by the two types of Human Papilloma Virus—types 16 and 18—that cause approximately 70 percent of all cases of cervical cancer worldwide. At least 17 other types of HPV are responsible for the remaining 30 percent of cervical cancer cases. HPV types 16 and/or 18 also cause some vaginal, vulvar, anal, penile, and oro-pharyngeal cancers. Therefore, researchers must develop new vaccines that are able to prevent infections by all HPV types that can cause this disease. In April 2010, the FDA approved the first cancer treatment vaccine. This vaccine, sipuleucel-T (Provenge®, manufactured by Dendreon), is approved for use in some men with metastatic prostate cancer.

Cancer vaccines represent an emerging type of biological therapy that is still mostly experimental. Many clinical trials are underway to test vaccines as potential treatments for a wide variety of cancer types.

In one early-stage study, 18 of 20 patients who were vaccinated against non-Hodgkin's lymphoma stayed in remission for an average of four year. The vaccine used in this study contained a protein specific to each patient’s tumor cells (that is, each patient was given an autologous vaccine) as well as two other substances to help boost the immune response. A large, randomized, phase III trial of this vaccine is now under way. From the market perspective, there are going to be multiple launches of vaccines between 2010 and 2013-14, which would substantially increase the market size and growth. The cost of three complete dose courses of the vaccines ranges approximately from $380 to $400. The cancer vaccines developmental pipeline is strong with about 239 products in various phases of clinical development including 21 molecules in Phase III. The Phase III pipeline activity is strong. It mainly consists of clinical studies involving antigen/adjuvant vaccines regimen. The Phase III pipeline also contains some novel therapeutic vaccines. These options are also present in the Phase II stage pipeline. With all these factors, it is likely that the options in the pipeline will cause a dramatic change in the market in the near future and the market activity will primarily be dominated by the molecules in the Phase II and Phase I pipeline. The questions that need to be answered via research:

Whether vaccines will be more effective when given in combination with other forms of cancer therapy

Whether the vaccine should be administered before chemotherapy, during chemotherapy or after the course is completed.

For therapeutic vaccines, the question is at which stage should the vaccination be given?

Whether vaccines can be used in case of cancers in multiple tissues?

Compiled by: Shalet M. Koshy (MBA Biotechnology SEM IV) Anjali Joshi (MBA Biotechnology SEM II)

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‘Innov’Era

‘CAN’CER TREATMENT: A REALITY!!! In India, cancer is a silent crisis. It goes largely unreported, and elicits little of the attention it deserves from health authorities preoccupied with other pressing health problems. Efforts at prevention and early detection are extremely limited, as are diagnostic and treatment services. Cancer survival rates in India are exceptionally poor. Lack of awareness, stigma, and reliance on traditional healers mean most people do not seek medical help in time. Also, there is a common perception that cancer is transmissible, which leads to patients being shunned by family and friends and inhibits people from accessing screening or acknowledging early symptoms. More than two third of cancer patients are first seen with late stage disease, which has a poor prognosis and is long, difficult and costly to treat. Despite public policy measures to prevent cancer, such as tobacco control and vaccination against HPV (Human Papilloma Virus), cancer is sure to remain a significant public health problem throughout the 21st century. The demographic shift towards an ageing population and the usage of high–tech modern medicine throughout the emerging economies of Asia and Africa will lead to the expansion of the market for cancer diagnostics globally. Early diagnosis of cancer is essential to determine the treatment regime. Computerized tomography, positron emission tomography, magnetic resonance imaging and ultrasound imaging are some of the techniques used for cancer detection. However these techniques are expensive, require lab facilities and highly trained technicians, they are time consuming and cannot be taken into the field. Nanotechnology is one of the recent technologies used for cancer diagnosis. Nanotechnology is in a unique position to produce a new generation of early cancer detection techniques with higher sensitivity and delivery of the drug to the target site. The latest Technologies in Oncology Diagnostics range from body imaging and cytology to molecular diagnostics and pharmacogenomics. The imaging techniques involve Magnetic Resonance Imaging (MRI), X-ray, Computed Tomography (CT), Ultrasound, Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT) and Flow Cytometry. Similarly, the molecular diagnostics include Fluorescence In-Situ Hybridization (FISH), Polymerase Chain Reaction (PCR), HPV testing, Immunoassays & Biomarkers, Microarrays and Comparative Genomic Hybridization (CGH). Molecular diagnostics and biomarkers are the key drivers of the oncology diagnostics market. Virtual colonoscopy, using CT scans to build a picture of the colon, is becoming an increasingly accepted alternative to invasive colonoscopy for colorectal screening in high risk groups

and the general population. This presents a sizeable market opportunity. Research is being conducted in both ovarian cancer and prostate cancer, which could have wide-market implications. Specifically, companies are looking to validate new biomarkers in order to create more accurate tests. Apart from commonly used chemotherapy, hormonal therapy and radiotherapy, few therapies like stem cell transplantation, electromagnetic radiation therapy, dendritic cell (antigen presenting cells) based vaccines, antisense therapy etc. have emerged as novel ways to treat cancer. As the name suggests, stem cell transplantation is transplantation of multipotent hematopoietic stem cells or blood, often derived from bone marrow, umbilical cord blood or hemopoietic stem cells derived from a placenta into the patient as part of the therapy. In electromagnetic radiotherapy, low power, non-ionizing, non thermal, radio or sub-radio frequency electromagnetic waves are produced which are helpful in treating the cancer. A dendritic cell based cancer vaccine induces strong anticancer immunity by its potent immune-inducing abilities. It is a new paradigm in cancer treatment which induces not only strong anti-tumour immunity but also immune memory to prevent tumour recurrence or metastasis. In this vaccine a live attenuated virus is used which infects both healthy cells and tumour cells but it selectively replicates in tumour cells resulting in killing tumour cells and leaving healthy cells unaffected. It also results in production of antigens which induces tumour specific immune response, resulting in identifying and destroying tumour cells systematically. Antisense therapy has emerged as an exciting and promising strategy for cancer therapy which works at the genetic level to prevent mutated or overactive genes by directing the synthesis of proteins that are causing

cancer. They are different from conventional drugs as these are designed to interact with protein molecules after they are produced. Antisense drugs have a more

selective action, and they have the potential to be more effective and less toxic than conventional drugs. Compiled by: Hitesh Patil (MBA-BT SEM IV) Neha Shedge & Seema Pawar (MBA-BT SEM II)

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The Industry Buzz

NOMORESULIDE… It seems that the Drug Technical Advisory Board of India has pulled its socks and rolled its sleeves once again. It has finally decided to impose ban on the commercialization two very controversial drugs being sold in Indian market namely NIMESULIDE and PHENYL PROPYLAMINE (widely known as PPA). The move comes after the debate that has lasted for a decade. The debate was whether to ban Nimesulide in India or not. The Nimesulide drug has already been banned in the developed countries like Britain, Canada, Sweden, Denmark, New Zealand, Japan and many more. In USA the drug was not even filed for marketing. The main reason behind the ban imposed on the drug is the severe liver damage it causes. It was marketed in India despite of being banned in the developed countries.

Along with Nimesulide, Phenyl Propylamine, Cisapride are the other two drugs which DTAB has banned in India. PPA is the drug used in popular brands like D’cold, Vicks Action 500 often prescribed for cold and cough remedies. PPA was reported to be the reason of stroke in many young women. Whereas Cisapride prescribed to increase the gastric motility in the upper GIT was reported to cause serious heart related problem such as disturbed rhythms of heart beats. The Nimesulide tablet holds the market of Rs. 2710 Crores in Rs. 50000 Indian Pharma Market. According to the Drug Controller the drug should have been banned in India before 10 years ago but were not banned. Previously, two more drugs were banned in India. Those were Rosiglitazone which is an anti diabetes drug and the other one is Sibutramine. These were banned in India in the month of November. In the defence, the manufacturers and the marketers of Nimesulide argued that the manufacturers of

Paracetamol and Ibuprofen were trying to get the drug banned because of the higher revenues it generated and it had nothing to do with the adverse effects it caused. However the test results as well as the reports from the market always pointed that the problems posed are serious and need attention.

BIOCON SUFFERS A SETBACK AS ORAL INSULIN TRIALS FAIL... Biocon suffered a serious setback this month when the results of the clinical trials on the much awaited oral insulin drug failed. The clinical trials on the drug failed to meet the primary goals. The drug is named as IN-105 by the company and had cleared the Phase II of the clinical trials. The drug in clinical trials has to prove the efficacy test to reach the very important phase III. In the human clinical trials of IN-105, it was supposed to lower the level of glycated haemoglobin by 0.7% however it failed to lower the levels as compared to placebo. In this case the effects on placebo were higher than expected by the researchers. The company said that they had not considered certain facts about the placebo and the assumptions proved to be wrong. However the company claims to have collected enough data to show that the results are positive and the research is on right track. The Biotech giant now has extended its arms to the global partnerships for the further research on the molecule. The company plans to enter into global partnerships and thus conduct more research and more clinical trials. The company is highly optimistic about the output of the research studies and the clinical trial report. This drug and molecule being one of the most promising and the emerging market has given a lot of hopes to the company as well as the Indian Biotechnology. It will be interesting to see how the molecule, on which Biocon has been researching since around 2001, fares in coming days. Compiled by: Sumantsinh Girase (MBA Biotechnology SEM IV)

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Candid Talk

AN INTERVIEW WITH MR. MANISH PUNGALIYA

Pharmacogenomics can be described as the study of the effects of genetic variation on the efficacy and toxicity of a particular

drug. Today oncology and pharmacogenomics is a hot topic in the current diagnostics market. In order to understand this association, the interview team spoke with Mr. Manish Pungaliya, Director, Ayugen Biosciences. Ayugen is one of the few companies currently working in the field of pharmacogenomics testing. Q.1. “Pharmacogenomics, a powerful tool to enhance cancer treatment”. What are your views on this statement? Pharmcogenomics is drawing attention towards itself in oncology because most of the new drugs to treat it are based on targeted therapies i.e. they target a particular pathway or a gene in a pathway or a protein. Therefore, most of these drugs will only work based on a particular genetic profile of the tumour. Pharmacogenomics can guide practitioners through its genetic profiling tests as well as about which medication will work in a patient and which won’t work. Q.2. Even though pharmacogenomics plays a vital role in cancer treatment, do you think it is being utilised efficiently in India as compared to western countries? If not so, what do you think are the probable reasons for its underutilisation? Pharmacogenomics is not being utilized to its full potential in our country because most of the doctors don’t know about the tests and their usage. They are not aware about the benefits and the power of these tests and even if the doctors are aware of the test they don’t know how to apply them. But the bright side is that more and more pharmaceutical companies are pushing the use of these tests with their drugs, thus the awareness and usage will increase rapidly in the future. There is also a cost factor involved in the successful application of this technique and currently it’s a barrier to the acceptance of this form of therapy. Q.3. What steps can be taken to get Pharmacogenomics Diagnostics for cancer treatment within the reach of the common man? In the future the cost of the test will automatically come down as the volume of patients increase, which is bound to happen, considering the utility of these tests. Apart from this best way to get the costs down would be to tie

up with government organizations that can help bring these tests to the common man at subsidized rates. Q.4. What is the current share of pharmacogenomics in the Indian diagnostic industry? And what is your forecast for the next 5 years for this industry? The current share of pharmacogenomics in the diagnostics industry is somewhere around 5-6 %. However, this scenario will definitely change in the future as the growth potential is tremendous and the Indian molecular diagnostics market is expected to cross US$ 3 billion by 2015. In keeping with the proportion of the pharmacagenomics market share, there will be an exceptional growth in this sector too. Q.5. What are the current as well as the untapped opportunities in cancer pharmacogenomics? There is a host of other tests that are available that can be developed to check the side effects and efficacy of a drug in a patient’s body based on drug metabolism and site of action. Also there are other genomics tests which try and understand the gene and protein expression in the patient’s body once the drug has been administered. Q.6. What factors should a new entrant take into account before stepping into this field? A new entrant must keep in mind that they should be ready with a full fledged marketing plan and a proper implementation plan to create awareness among the practitioners. Another factor for consideration is to try and bring the cost down from the current levels. The major aspect to be worked upon is the awareness levels in the market since it’s a new field in India. Initially the investment would be high but the returns on investment will certainly follow. Therefore any new entrant must have enough patience to fuel this industry.

Compiled by: The PUMBA Gazette Interview Team

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The PUMBA News

DHRUV ‘11 DHRUV ’11, one of the most awaited cultural events was held from 17th -19thJan 2011. This year the theme for DHRUV was “AQUATICA.” This event gives the students, from leading B-Schools, an opportunity to present their managerial, cultural & sports skills to come out and perform in front of all & compete with others. More than 5000 participants registered their names for various events. The Grand Finale was held on 19th Jan 2011 at ‘Alpabachat Bhavan’ which comprised of the finals for ‘dance competition’ and ‘fashion show’. The chief guest for the Grand Finale was Mr. Nandkishor Kapote, the renowed Kathak dancer and disciple of Pandit Birju Maharaj. The judges for the evening were Abhilasha Mahant Choudhary, Director ‘Nach India’ and Vikram , Choreographer from Jhalak Dikhla Ja.’ The event concluded with overall prize distribution and tallying of points won in various competitions. The General Championship rolling Trophy is given on the basis of collective ranking in each individual event of DHRUV. For the third consecutive year the trophy for DHRUV’11 was won by Indira Institute Of Management, Pune.

NOSTALGIA 2011 Nostalgia`11, An Odyssey to Remember is an annual Alumni meet & was held on 22nd January, 2011 at the PUMBA campus. This event is a casual gathering of alumni & is meant for recapturing the past memories of PUMBA. It’s an attempt to strengthen the relation between PUMBA and its alumni. This year the event revolved around the theme of ‘Journey’. Deviating from the usual on-stage program, the PUMBA campus was converted into a fete with various games organized by the students. These were enjoyed by the alumni and the fun atmosphere pepped up the interactions.

The Event was inaugurated by Dr. Capt. C.M. Chitale, Professor and Head of Department, PUMBA. The alumni, who have helped PUMBA in the past year, were honoured as Star Alumni. Also, PUMBA Art Exhibition, wherein the paintings, sketches and photographs by the students were displayed, was appreciated. Prof. Aniruddha Joshi along with Abhimanyu Tadwalkar of MBA BT 2nd year & Bhushan Astulkar MBA- BT 1st year,

were adjudged as the best artists through a poll conducted during the event. Thus, another event was successfully organized by Alumni cell, the heart of PUMBA.

NATIONAL SEMINAR 2011

National seminar 2011, a National level seminar, was held on 29th January, 2011 at Le Meridian, Pune. This year, the topic of discussion was ‘India on the horizon – The dawn of a global era’. Dr. Santosh Bhave, Vice President - HR, Bharat Forge Ltd. graced the event as the Chief guest and Dr. R.K. Shevgaonkar, Hon. Vice Chancellor, UoP, as the Guest of Honour along with Dr. (Capt.) C.M. Chitale, the Head of Department of Management Sciences (PUMBA). The curtain raiser movie, based on the theme, was an apt introduction of the current Indian scenario. There were three panel discussions in the seminar with the topics being India’s Global Footprint - How far have we reached?, Infrastructure Jeopardized- Why can’t we walk the talk? and Globalization and National Commitment-Can they go hand in hand?. The panelists included Mr. Rajesh Ghonasgi, CFO, Persistent Systems Ltd., Mr. Diniar Patel, Editor-Supplement, Times Of India, Mr. Unnikrishnan Menon, AGM - Exports, IPCA Labs, Dr. P C Nambiar, Director - EXIM, Serum Institute of India, Mr. P Srinivasan, Global Business Head, Chemical Division, Thermax Ltd., and members of Faculty of PUMBA. The seminar was concluded with a valedictory speech by Dr. Ashok Joshi, Dean, Faculty of Management, University of Pune. With this seminar, the Seminar cell has indeed added another feather in its cap!

YUKTI “Yukti” a business plan competition was organized by the ED Cell at PUMBA campus on 25th January, 2011. The event consisted of two segments. In the first segment, “BIZZolution”, candidates were given 100 seconds to present their business ideas. The second segment, “BIZZplanmania”, only shortlisted candidates presented their complete business plan. Students from leading B – Schools like JBIMS, N.L. Dalmia, K.J. Somaiya, MIT, Sinhgad Institute participated in these events. Reputed Industrial personalities were invited to judge the business plan competition. Vishwas Kale (Vijayesh Industries) and K.J. Bhumkar (Ex-CMD, Bank of Maharashtra) were the esteemed judges. Compiled by: Nazaneen Saify (MBA BT Sem IV) Mehraj Deshmukh and Nikhil Bhalerao (MBA BT Sem II)