Hyderabad has the potential to become the bulk drug capital of the world, according to K Anji Reddy, chairman of Dr Reddy's Laboratories and the president-designate of Indian Pharmaceutical Alliance -- an association formed by nine top Indian pharma companies.
Addressing the state's pharma taskforce here today, Reddy said: "There is no exaggeration in saying that Hyderabad is progressing to become the bulk drug capital of the world from being the bulk drug capital of the country."
"The chief executives officers (CEOs) of GE and Intel might have gone to Bangalore. But we can attract the CEOs of Pfizer and Merck to Hyderabad in another three years," Reddy said.
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Reiterating that Hyderbad is known for its skills in the field of Chemistry, Reddy felt that this is the most appropriate time to prepare for patent regime, which will be effective from January 2005.
Assuring full cooperation for the pharma industry, N Chandrababu Naidu, chief minister of Andhra Pradesh, has given an in-principle approval for setting up an international pharma excellence centre, in Hyderabad, and a pharma city, in Visakhapatnam, as proposed by the Bulk Drug Manufacturers Association.
Venkat Jasti, president of the association, suggested the government to frame a goal-oriented pharma policy with active participation from the industry.