Hyderabad: Indian pharmaceuticals industry is on path to improve its infrastructure and technical capabilities. The industry is now actively making efforts to work towards import substitution through a task force constituting various stakeholders that include government officials, Pharmexcil, manufacturers, CSIR (Council of Scientific and Industrial Research) labs and others. The task force is identifying top 100 imported raw materials and products. These products could be individually or jointly developed. Several modalities are being worked out now and the outcomes will be seen in the next few months.
The industry is expecting a healthy growth of 12-15 per cent CAGR in value terms and 10 per cent year-on-year growth in pharmaceutical exports this year, said, Pharmexcil chairman Madan Mohan Reddy, at the inaugural of two-day PharmaLytica Summit in Hyderabad on Friday.
“We are seeing some improvement in the indigenisation and domestic manufacturing in the pharmaceutical equipment and machinery. There is still large dependency on imported equipment. Industry finds it still unviable to make certain machinery as the market is very competitive. Import substitution may improve in the years to come,” he added.
Stating that the nation is at a crucial juncture where the pharmaceuticals industry has to keep on upgrading its way of thinking and innovating, he emphasised, there is no scope of sustainability otherwise and the industry has to understand the latest developments, analyse them and integrate them in the larger scheme of things.
As patents are expiring, India has a great opportunity. Indian industry can meet the global regulations and this offers substantial growth to almost about 15-20 per cent growth annually in the coming years. Government is pushing for manufacturing that will help sustainability and address the import burden.
PharmaLytica
Jayesh Ranjan, principal secretary to Government of Telangana, Industries & Commerce (I&C) Department & Information Technology, Electronics and Communications (ITE&C) Department, said, “It makes perfect sense to hold PharmaLytica in Hyderabad, as it is the pharma hub of India, and it gets to reiterate this claim with the setting up of the largest pharma city in the world, with over 15,000 acres space dedicated to all aspects of the industry. It is through huge forums as PharmaLytica where visitors and exhibitors can analyse how their work gets complemented by the building of a dedicated Pharma City.”
It is absolutely essential that trade shows meet technocrats, and service providers meet manufacturers to get the complete picture and rise up to the challenges the pharma sector is giving rise to, Rao Vadlamudi, president, Indian Pharmaceutical Association (IPA).
PharmaLytica 2017 is considered to be an ideal platform for pharma professionals from the Analytical & Bio Tech, Lab equipments & Lab Chemicals, Pharma Machinery and Packaging sub-sectors, to keep abreast with innovations in the growing businesses of India’s pharma industry. Over 100 exhibiting companies have participated for the first time at the show, reiterating its acknowledged pole position in the South.
The 4th edition of the expo has witnessed participation from over 150 exhibitors from across the country. Yogesh Mudras, MD, UBM India said, “Analytical, Bio-technology, lab equipments, pharma machinery and pharma packaging in India is set for huge augmentation owing to quality, research, regulatory and environmental compliances. Therefore, the need of the hour for Indian industry players is to achieve maximum efficiency from the potential of today’s landscape with better product and service offerings. To further market these offerings to a wider audience and in-turn stimulate trade amongst this niche Pharma sector, UBM India brings the 4th edition of PharmaLytica which will not only enable the exhibitors and visitors to network and connect but will also help the pharma community to pick up the latest industry trends and inventions pertaining to these sectors with its power-packed conferences.”
(Courtesy: https://telanganatoday.com/indian-pharma-focus-import-substitution