The Pharmaceuticals Export Promotion Council of India (Pharmexcil), has announced the launch of iPHEX 2013, India’s own pharmaceutical show under the support of Ministry of Commerce & Industry, Department of Commerce, and Government of India. iPHEX 2013 will be held in Mumbai from April 24-26, 2013 and over 400 leading Indian companies are expected to showcase the best of pharma products at the event.
IPHEX 2013 will see the presence of 5,000 business visitors including overseas buyers and drug regulators. Huge business opportunities are expected to emerge during the event. Further, the presence of a large number of drug regulators from overseas market will immensely help Pharmexcil and its members to promote the quality and affordability aspect as envisaged in Brand India Pharma Campaign. The campaign has been initiated by Ministry of Commerce and executed by Pharmexcil in association with IBEF.
Elaborating on the strengths of the Indian pharmaceutical industry, Dr P V Appaji ,Director General, Pharmexcil says, “India is the 3rd largest player in the world with 500 different APIs and ranks fourth globally in terms of production volumes; and 13th globally in domestic consumption value. The country is the largest exporter globally of generic formulations in volume. It exports vaccines to 150 countries and produces 40 per cent to 70 per cent of the WHO demand for DPT & BCG and 90 per cent of measles vaccines.”
iPHEX 2013 will be a complete value chain show and Pharmexcil is creating a sustainable pharma industry platform with a special focus on exports market development. “The exports growth story is one to be proud of,” says Appaji.
“Total exports during the last five years have seen a 16 per cent CAGR growth during the last financial year, 2011-12 saw 23.34 per cent in USD terms. North America continues to be our best destination with a CAGR of 25 per cent and 33 per cent growth during 2011-12. Exports to EU has grown exceptionally well during 2011-12 with 28 per cent considering the fact that a single digit CAGR was recorded during the last four years. Exports to Oceania have also grown well with a growth of 43 per cent but the overall turnover is small and considering the fact that Australia and New Zealand are not yet fully tapped, higher growth rates can be expected,” he mentioned.
With increasing R&D spends, Indian pharma sector has become a cost-effective centre for world class research as also for contract R&D. Indian companies in recent years have produced many cost-effective drugs that are affordable to the masses, Ashutosh Gupta, Vice Chairman Pharmexcil said. We are making concerted efforts to promote India’s status as the manufacturing hub of the world,” added Gupta.
“The Government has also been taking various policy initiatives for the pharma sector. These include tax-breaks to the pharma sector and weighted tax deduction at 150 per cent for the R&D expenditure incurred. Steps have also been taken to streamline procedures covering development of new drug molecules, clinical research etc. The Indian government has launched two schemes—New Millennium Indian Technology Leadership Initiative and the Drugs and Pharmaceuticals Research Programme—specially targeted at drugs and pharmaceutical research,” says Appaji.
“iPHEX 2013 will be the biggest industry exposition in India showcasing the diverse range of products and will include formulations, APIs, ayush, nutraceuticals, health services, biotechnology and biotechnology products, R&D Services etc,” informed Bhavin Mehta Committee Chief, IPHEX and CoA member, Pharmexcil.
In addition to a world class exhibition and meeting place for Indian companies and global buyers, Pharmexcil plans to organise several thematic seminars and conferences on the sidelines as well. These shall include pharma sector investments, R&D and innovation, overseas market entry strategies etc,” mentioned Mehta.
The Ministry of Commerce, has launched a series of initiatives to promote Brand India Pharma and iPHEX 2013 shall offer a perfect opportunity for international buyers and regulators to come to India and evaluate how well structured and regulated the Indian pharma industry is.
EP News Bureau – Mumbai