Pharma CEOs want Brand Pharma like Brand India

After 'Brand India', drug companies need to create 'Brand Pharma' for which the government should tweak laws, create a robust infrastructure which fosters innovation, and strengthen regulatory compliance to world standards. This will accelerate growth and help industry to achieve the $55 billion turnover by 2020, pharma CEOs at the Make in India session said.

Kicking off the inaugural session on 'Indian Pharmaceuticals Industry - Aligning with Make in India Vision', Pankaj Patel chairman and managing director, Zydus Cadila, said the Indian pharmaceutical industry is poised to reach $55 billion, of which $30 billion will be exports.

The crucial factors to make this happen are affordability, strong infrastructure, and, most important, the ease of doing business.

"We need to think how to create ease of doing business without compromising quality and affordability," he said, adding, regulation of prices is welcome, but only those of essential medicines.

Agreeing with his views on a simpler duty structure and quality standards, Rajiv Modi, CMD, Cadila Pharma said the domestic pharma industry can become a global manufacturing hub, and a future global innovation hub.

He said, "Brand pharmaceuticals made in India should be created just like 'Brand India'. Let Indian standards be escalated to be better than the best."

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