Indian Pharma Industry

The global launch of Brand India Pharma, CPhI Japan-Tokyo, March 21, 2012 

The global launch of Brand India Pharma took place on March 21, 2012, at CPhI Japan in Tokyo. The campaign is a significant initiative being led by Pharmexcil (the pharmaceutical export promotion council) and IBEF (India Brand Equity Foundation) under the aegis of the Department of Commerce, Government of India, to highlight the value proposition that Brand India Pharma presents today for globally.

India aims to double its exports to reach US$ 500 bn by 2014. Pharma is a major sector growing at 15% annually and generics is a major strength area. Traditionally India has been exporting to regulated markets, which majorly comprise the US and the EU apart from other regulated markets like Oceania and Japan; and the unregulated markets - Latin America, Africa and parts of Asia.

 India is aware that while its pharma growth in regulated markets like the European Union and North America has been phenomenal and that growth in Africa has also been spectacular but there has been a difference. In the former markets, India has largely been existent in the upper end of the value chain. While there is a huge potential in the regulated markets, the events of 3-4 years have demonstrated the necessity for diversification. This new dimension of India’s strategy is coincidental with developments in Japan. Given the heavy pressure on the health requirements, specially its aging population, Japan, which is a US$ 109 billion market of which generics constitute 8%, has decided to enlarge its generics portfolio. Japan today represents an opportunity for the Indian pharmaceutical industry. India has also entered into an FTA with Japan, which is a conscious agreement to mutually increase cooperation in the pharma sector. An element of this is the fact that Japan has extended national treatment to Indian companies.

Parallely, India is recognised for its role in the public health sector, which comprises three elements, namely:

  • Coverage of a wide expanse of health profile;
  • Indian medicines are very affordable
  • Quality of Indian medicines is recognised. For example, India, with a 35 per cent share, ranks the highest in terms of filings of (Drug Master File) DMF filed with USFDA. India also has 25% sites registered with the EQDM.

All these three elements converge to represent Brand India.

Government and industry in India propose sustaining the Brand India Pharma campaign in Japan at three levels:

  • Formal Government to Government level wherein we are proposing materialisation of commitments made by India and Japan under CEPA to develop into a roadmap for cooperation and dialogue. The Indian government is keen to enter into a dialogue with its counterparts and this will also include inviting Japanese to invest in Indian greenfield projects.
  • Business to business level where the Indian government would support its exporters to locate market opportunities and invite Japanese buyers for first hand insights of the regulatory regimes and manufacturing capacities in India
  • And at a Regulatory level, India would like to inform the Japanese regulatory agencies about Indian regulations so that mutual confidence on quality is assured. This is because India realises Japan is a quality conscious market and respects the same 

 

Comment!
 
 






* Indicates mandatory field.
Please wait while comments are being sent...