Three Gujarat based companies are a part of the 55 member delegation to Nigeria sent by the Pharmaceuticals Export Promotion Council of India (Pharmexcil) under its 'Brand Pharma India' campaign.
K Subbi Reddy, regional director of Pharmexcil informed that the team had gone to create awareness about the Indian pharmaceutical industry in the African country and also look for potential investment opportunities. "We are conducting seminars, exhibitions and buyer sellers meet in Nigeria. This is an initiative under the 'Brand Pharma India' campaign which is aiming to establish India firmly as the first choice pharma partner for the entire global pharma fraternity."
Indian pharmaceutical exports to Nigeria had dipped from Rs 226 crore in 2008-09 to Rs 190 crore in 2009-10. Reddy said that this year the target is to touch Rs 300 crore in exports, and the delegation is likely to generate business opportunities for the same.
Three Gujarat based companies Medivil Pharmaceuticals, Callion Laboratory and West Coast Pharmaceuticals have also joined the delegation. Meanwhile, Ahmedabad based companies already have presence in the African sub-continent. City based Cadila Pharmaceuticals has firmed up plans to step into Rwandan soil. CSM Global Pharma, a joint venture between Cadila Pharma and US-based Holtzman Group will invest $65 million to set up a pharmaceutical manufacturing facility in Kigali, Rwanda in association with the Rwandan Development Board (RDB).Cadila already has presence in Africa through a 60:40 joint venture with a local partner Almeta Impex.