Philippines, Indian pharma bodies tie up

The Pharmaceuticals Export Promotion Council (Pharmexcil) has signed a memorandum of understanding (MoU) with the Philippines International Trading Corporation (PITC) to market Indian drugs in Philippines.

Pharmexcil is a body set up by the Union ministry of commerce and industry, while PITC is a trading and marketing arm of Philippines.

The MoU was signed by Roberto M Pagdanganan, chairman and president of PITC, and Cabinet minister in government of Philippines, and D B Modi, chairman, Pharmexil.

"There is huge scope for marketing Indian drugs in Philippines. The MoU will help us expand our market in Philippines. We will promote the image of the Indian pharmaceuticals industry in Philippines. We will have a closer interaction with the drug registration authorities in Philippines," said D B Mody, chairman, Pharmexil.

The total exports from India, including finished dosage and bulk actives from Indian and multinationals based in India, have reached $10.35 million in 2001, which is still an insignificant 2.95 per cent of the total Philippine pharma imports and less than one per cent of the market.

According to industry sources, the total Philippines market is over $1 billion. If prices can be brought down, this figure can be doubled or tripled since the medicines will be within the reach of the common man.

Indian pharmaceutical companies started realising the potential of the Philippines markets since 1996.

Prior to this, the focus had been on other Asean countries such as Vietnam, Cambodia, Laos, and Myanmar.

A study undertaken by the Department of Trade and Industry and the Department of Health of the Philippine government in early 2000s concluded that the prices of pharmaceutical products in the Philippines were as high as 20 times those of India.

Since September 2000 some consignments of branded pharmaceutical products have been imported by PITC, sources said.

Currently over 30 reputed Indian manufacturers of finished dosage formulation have registrations for their products with the Bureau of Food and Drugs of Philippines, which include almost all of the top Indian companies like Ranbaxy, Lupin, Torrent, Sun Pharmaceuticals, Zydus Cadila, Unique, Unichem, Micro Labs, Dabur, Ajanta, Kopran, Flamingo, Aurobindo, and Karnataka Antibiotic among others.

With the MoU, Indian pharmaceutical companies would be able to supply quality medicines at low prices and could even consider entering into joint ventures with Philippines companies for local production of pharmaceutical products.

Given the size of the Philippines market and the advances made by the Indian pharmaceutical industry, the potential for co-operation and mutual gain is enormous, they said.