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Indian Pharma Industry Gets a Booster...
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May
13
ragupathyrenganathan
Indian Pharma Industry Gets a Booster Shot
Pharma News
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Pharmaceuticals export promotion body, Pharmexcil, is creating awareness in Japan on the Indian pharma industry’s capabilities, particularly to emerge as a contract manufacturing destination for generic drugs.

Under the ‘Brand India’ campaign, the Pharmaceuticals Export Promotion Council of India, on behalf of the Centre, held meetings recently with the Japanese drug manufacturers’ association. The strengths of the industry and achievements of the companies were highlighted to convince the Japanese companies to source generic drugs from India as well as undertake contract manufacturing.

Stating this, the Council’s director general, P.V. Appaji, said the Japanese generic drug market is the second largest globally.

“Acceptance of generics in Japan is on the rise… [but] Japan is not opening up to India [for sourcing generic drugs],” he told presspersons on the sidelines of a meet to announce a pharma expo and summit. Contract manufacturing in India is cost effective because of the availability of low cost skilled manpower.

The share of generics in Indian pharma exports to Japan is small but growing. Pharma exports to Japan are about Rs.400 crore and most of them are APIs and herbals. “We want generic formulations to grow through contract manufacturing,” he said, citing the example of Japanese firm Eisai that has a facility in Visakhapatnam.

On pharma exports in 2014-15, Dr. Appaji said they are estimated to have grown to about $ 15.2 billion or about 2.2 per cent more compared to the previous fiscal’s achievement of $14.9 billion. In rupee terms, the exports were Rs.96,000 crore. He attributed the slow growth to the depreciation of Russian rouble, the Ukraine crisis and Indian companies setting 100 per cent subsidiaries leading to the exports turning into stock transfers. The Hyderabad-headquartered Pharmexcil, he replied to a query, was setting up an office in Visakhapatnam in view of the large number of pharma companies there. A convention centre was also planned in the coastal city.

Under the ‘Brand India’ campaign, Pharmaceuticals Export Promotion Council of India has held meetings with Japanese drug manufacturers’ association



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