Pharma units foresee growth
Banking on patent expiry of several drugs in
near future, Indian pharma majors anticipate a growth of about 15 per cent in
exports this year.
Setbacks
Pharmexcil, the pharma exports body
representing the industry, said here on Tuesday that there were setbacks to
growth in pharma industries like shortage of skilled manpower and attrition but
growth could be expected given the expiry of patents on drugs. “Several companies have filed dossiers for
seeking approvals for exporting drugs the patents of which will expire,”
said Madan Mohan Reddy, Chairman of Pharmexcil.
Mr. Reddy and other representatives of other
pharma companies said problems like the currency crisis in Venezuela would be
dealt with and would not impact the industry severely. Speaking on imports from
China, industry representatives said Chinese companies mostly supplied
intermediaries and active ingredients for drugs but efforts were being made to
ramp up such production capabilities in India.
They also termed reports about drug
production causing health and environmental problems an effort to malign the
image of drug manufacturers in India. Representatives of pharmaceutical
companies also announced commencement of India Pharma Week on November 17.
During the week, the CPhl and P-MEC expo, which was
dubbed Asia’s largest pharma event, would see around 1,300 exhibitors showcase
their products in Mumbai.
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