Reliance Industries (RIL) is set to cause a big disruption in the healthcare sector with the launch of the cheapest genome sequencing kit priced at about Rs 12,000 ($150), while a limited period free offer is also on the cards.
This price is nearly 70% lower than that in the Western countries, where the test kits are typically priced at about $500. Further, in a clinical setting, the prices would go up to $1,000. The test – Genomic Health Insights — would be conducted by Strand Life Sciences, in which RIL holds a majority stake, sources close to the development said.
Earlier in 2021, Reliance Strategic Business Ventures, a wholly-owned subsidiary of RIL, had acquired about 22.8 million shares of Strand Life Sciences – a genomics-based research and diagnostics company — for Rs 393 crore in cash. The company was to invest another Rs 160 crore by March 2023, taking its total stake in the Bengaluru-headquartered company to about 80.3%.
At present, there is no competition in India as no other company has launched a product like this, the document said. An RIL spokesperson declined to comment.
“Strand, with RIL’s backing, is excited to make genomics accessible to the broader Indian population. The Genomic Health Insights initiative is driven by more than 20 years of expertise in genomics. It is the first in a series of Genomic Wellness offerings that enables individuals to gauge scientifically well-established genomic risks,” Ramesh Hariharan, CEO & co-founder at Strand Life Sciences, said.
Strand will conduct the genetic test based on sequencing of 20,000 genes (humans have about 20,000-25,000 genes, with every person having two copies of each gene, one inherited from each parent), followed by genomic analysis and interpretation to identify a range of genomic risks. The tests would be conducted to diagnose inherited risks of cancer, heart conditions, adult-onset metabolic disorders, and carrier status for various rare diseases.
In addition, a pharmacogenomics report that outlines how the individual may metabolise several drugs on account of genomic variants would also be provided. The tests are conducted to confirm or rule out a suspected genetic condition or help determine a person’s chance of developing or passing on a genetic disorder.
Strand, which will collect the blood samples from homes, will only report studies on genomic risks with substantial scientific evidence that are clinically relevant as it intends to “keep the bar high”. The company will sequence and conduct data analysis, following which curated results are uploaded to a secure web portal that will also store data “forever”.
The testing would be performed at the same level of rigour as the testing in a clinical setting for doctor-referred tests, the company added.
While it will take three weeks to provide the results, the tests can be taken by couples planning to start a family, for carrier screening and people aged 30 and above. Earlier in 2002, RIL disrupted the telecom market in the country with the launch of CDMA services that were much cheaper than the incumbent operators’ GSM services. This also resulted in the country becoming the cheapest telecom market in the world, as rivals had to slash prices to retain subscribers. Later in 2016, the company launched 4G services under Reliance Jio Infocomm with tariffs that were competitive in an already cut-throat market. The company, through its subsidiary Reliance Retail, has also been launching products with competitive prices in FMCG space, giving rivals a run for their money.