The consultative group on pharmaceutical exports, set up by the Union Commerce Ministry to find ways to double Indian exports by 2014, is holding its first meeting here on Friday. This will be on the sidelines of a three-day India-Latin American and Caribbean Pharma Business meet beginning tomorrow.
The meeting will be held under the chairmanship of commerce minister Anand Sharma, who is also expected to address the valedictory session. The government aims to increase pharma exports to $25 billion by March 2014 from the current $10.3 billion. A CEO conference is also scheduled to be held a day before this meeting on issues related to the strategy on increasing pharma exports.
The reverse buyer-seller meet, organised by the Pharmaceutical Export Promotion Council (Pharmexcil), is part of an ongoing governmental effort to push Indian generics into these markets while taking advantage of the changing policies of respective countries that favour cutting down healthcare costs for their population.
Representatives of about 76 buyers, distributors and manufacturers among others from 14 Latin American countries, including the two Caribbean nations of Jamaica and Trinidad, and more than 500 delegates from Indian pharmaceutical companies are taking part in the event.
Latin America currently accounts for 7.5 per cent of the total export value of Rs 48,000 crore of Indian pharmaceuticals and India is looking at enhancing this share to at least 15 per cent by 2014, according to PV Appaji, executive director, Pharmexcil.
At present, these countries import 40-50 per cent of generic drugs from India in addition to active pharmaceutical ingredients (APIs) and have higher potential for replacement of branded generics by Indian generics as the governments of respective countries have been looking at ways to cut down healthcare costs for the people. Countries like Argentina allow only APIs (bulk drugs) from India and the authorities are trying to impress upon these government to facilitate import of generic formulations as well.
“Companies like Pfizer continue to hold marketshare through their branded generics even after expiry of patents in those countries. The present policy environment is conducive to replace them with our generic drugs, which are far cheaper,” said Venkat Jasti, past chairman of Pharmexcil, at a media conference.
Indian companies, during the three-day event, are expected to actively showcase to Latin American buyers its products in areas of antibiotics, oncology, cardiology, diabetics and HIV, which represent the major manufacturing strength of the country's pharma sector.
T Appa Rao, principal secretary, state industries and commerce department, said Hyderabad would support further growth in the pharmaceutical sector as the government's efforts in bringing down pollution levels was showing results. About Rs 66 crore had been spent only for the pharma sector to create basic infrastructure to keep industrial pollution under check.
Pharma companies are coming to invest in the state as Andhra Pradesh hosts a dedicated pharma park with all the clearances, and individual units need not take environmental approvals.
