Over 500 international buyers to visit pharma exhibition
Updated: May 06, 2014 05:15:30pm
Mumbai, May 6 (KNN) Over 500 international buyers from over 110 countries, including government regulators from 25 countries will visit the global pharmaceutical exhibition scheduled to be held here from May 21-23.
The USD 34 billion Indian pharmaceutical industry with over 1400 WHO GMP certified manufacturing units will showcase their products at iPHEX 2014.
“In order to build on India’s reputation as a quality, credible and affordable provider of drugs and pharmaceuticals, factory visits of the regulators will be organised,” Chairman of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), Ashutosh Gupta, said at a press conference today.
Besides, officials from the Drug Controller General of India will be making presentations to the buyers from 110 countries, including the EU and the US, briefing them about the strict quality standards in Indian pharmaceutical units.
While the Indian generics are sent across the world, as much as 55 per cent of the USD 14.5 billion exports are shipped to the highly regulated markets including US and EU countries. Japan too holds a big potential for the Indian pharma sector.
Business orders worth several hundred crore is expected to be bagged by Indian exhibitors of drugs and also the manufacturers of drug-making machinery at the 3 day exhibition. India has also emerged as an international manufacturer of pharma machinery for production of pharmaceutical products.
The sector is widely spread across AP, Gujarat, Maharashtra, TN, Karnataka, Himachal Pradesh and other parts.
Globally, more than 90 per cent of formulations approvals for anti-retroviral (ARVs), anti-tubercular and anti-malarial (WHO pre-qualified) have been granted to India.
iPHEX 2013 had witnessed success, generating business over Rs 1,000 crore. This year’s event is likely to draw foreign buyers looking for affordable, credible and sustainable source of pharmaceutical supplies, said Director General of Pharmaexcil, P V Appaji.
While China is India’s main competitor in APIs, India’s credibility in generics medicines is recognised worldwide. In fact, India has the highest number of DMFs filed for APIs, second only to US in the US market, he said.
“iPHEX 2014 is a part of Brand Pharma India initiative and the government is taking several measures to promote Indian pharma at a global level,” said Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India.
“For its cost effectiveness and quality, the Indian pharmaceutical industry has been closely working with several World Bank projects across the globe,” said Chairman of the iPHEX Committee, Bhavin Mehta. (KNN/ES)
The USD 34 billion Indian pharmaceutical industry with over 1400 WHO GMP certified manufacturing units will showcase their products at iPHEX 2014.
“In order to build on India’s reputation as a quality, credible and affordable provider of drugs and pharmaceuticals, factory visits of the regulators will be organised,” Chairman of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), Ashutosh Gupta, said at a press conference today.
Besides, officials from the Drug Controller General of India will be making presentations to the buyers from 110 countries, including the EU and the US, briefing them about the strict quality standards in Indian pharmaceutical units.
While the Indian generics are sent across the world, as much as 55 per cent of the USD 14.5 billion exports are shipped to the highly regulated markets including US and EU countries. Japan too holds a big potential for the Indian pharma sector.
Business orders worth several hundred crore is expected to be bagged by Indian exhibitors of drugs and also the manufacturers of drug-making machinery at the 3 day exhibition. India has also emerged as an international manufacturer of pharma machinery for production of pharmaceutical products.
The sector is widely spread across AP, Gujarat, Maharashtra, TN, Karnataka, Himachal Pradesh and other parts.
Globally, more than 90 per cent of formulations approvals for anti-retroviral (ARVs), anti-tubercular and anti-malarial (WHO pre-qualified) have been granted to India.
iPHEX 2013 had witnessed success, generating business over Rs 1,000 crore. This year’s event is likely to draw foreign buyers looking for affordable, credible and sustainable source of pharmaceutical supplies, said Director General of Pharmaexcil, P V Appaji.
While China is India’s main competitor in APIs, India’s credibility in generics medicines is recognised worldwide. In fact, India has the highest number of DMFs filed for APIs, second only to US in the US market, he said.
“iPHEX 2014 is a part of Brand Pharma India initiative and the government is taking several measures to promote Indian pharma at a global level,” said Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India.
“For its cost effectiveness and quality, the Indian pharmaceutical industry has been closely working with several World Bank projects across the globe,” said Chairman of the iPHEX Committee, Bhavin Mehta. (KNN/ES)
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