Pharmexcil to open warehouses abroad
The warehouses will be open under the Brand India Pharma campaign in Latin America, Africa and Europe.
Mumbai, April 15, 2013: Pharmaceuticals Export Promotion Council of India (Pharmexcil) plans to set up warehouse facilities in Latin America, Africa and Europe in a bid to encourage pharma exports from small and medium scale pharma companies. The facilities will be open under the Brand India Pharma campaign.
It is expected that the planned warehouse will help small and medium drugmakers to store their products at the facility and supply them to local distributors when the requirement comes.
As per Dr P V Appaji, Director General, Pharmexcil, the warehouse in Nigeria will be ready in the next two months and it will help the pharma companies to launch their branded products in the Nigerian market. He also said that the first overseas warehouse will give 75 per cent, 50 per cent and 33 per cent subsidies for three years, respectively, to the user-companies.
Indian pharma export is currently at US$ 13.4 billion and it is expected to reach US$ 25 billion by 2014-15.