Hyderabad: August 23, 2003
The Indian Pharmaceutical Association (IPA), which is the professional body of the pharmacists in India, to organize an international business convention and exhibition on the 14th, 15th and 16th September 2003 at the ITC Grand Maratha and Hyatt Regency in Mumbai.
Disclosing this addressing a press conference at Hyderabad on Friday evening Dr. P.R. Vavia, Convention Secretary of IPA 2003 informed that a pharmaceutical business convention of this kind and magnitude is to be held for the first time in India. Dr. P. R. Vavia and Mr. S. W. Deshpande, Vice Chairman of IPA Convention 2003 are in city to meet Pharma Industry of the state to promote the event and solicit their cooperation in making it a success.
Adding further, Dr. Vavia said the convention and exhibition will promote the Indian Pharmaceutical Industry to the world and showcase Indian capabilities and strength. And will facilitate global outsourcing, contract manufacturing, clinical trials and collaboration between Indian and overseas pharma companies
The convention, with the theme "Destination India - Global Pharma Business", offers a unique opportunity to Indian Pharma Companies to interact with their counterparts in the world. Indian companies involved in business related pharmaceutical field such as Contract Research, Machinery, Software Development will also participate in the convention.
Dr. K. Satish Reddy, Managing Director of Dr. Reddy’s Laboratories Ltd. and Mr. Venkat Jasti, Managing Director of Suven Pharmaceuticals Ltd. from Hyderabad will speak at the convention among others including Dr. Vinod Shah, President of American Association of Pharmaceutical Scientists (AAPS, USA) and representatives from US FDA.
"The interaction will revolve around the Technical and Commercial Requirements, Regulations in Export Markets, Level of Technology Expertise and Costs. In the currently changing global pharmaceutical scenario, the convention provides a platform for ‘Buyers and Sellers’ of all countries to display their capabilities and source products. Similarly, this can attract Contract Research Projects for India and the expected business generation could be to the tune of Rs. 500 crores" said Mr. Subodh Priolkar, the Chairman of the Convention.
The delegates in the three day meet will deliberate on various issues which include ‘Techno-commercial strategy for marketing in developed countries’, ‘cGMPS for 21st century’, Strategy for International Markets: Business potential, barriers and challenges’, ‘Counterfeiting - International perspective’ to mention a few.
"International companies like Aventis (UK, France, Germany), Arab Health, Asta Inc. (USA), Bectochem, Ethypharm, Sagamihara-shi (Japan), Ratiopharm, Merk (USA), Globepharm, Pfizer Inc., M.J.H. International (U.K), Pharmascience Inc. (Canada), Medisure (Pakistan) have already confirmed their participation. All leading Indian Companies would participate in either the Convention or Exhibition", he added.
"The Three (3) day Convention is expected to be attended by 250 International, Indian Delegates and Experts from over the world would be addressing the gathering", Dr. Vavia informed.
The 3rd IPA Convention 2003 is supported by Industry Pharmacy Section of Federation Internationale Pharmaceutique (FIP), SEARPharm Forum (FIP-WHO Forum of National Pharmaceutical Associations for South East Asia) and Industry Associations in India.
Dr. Khadgapathi, IPA Head Hyderabad also is present at the press conference.
The Indian Pharmaceutical Industry -- A Perspective
The last 50 years have seen an impressive growth of the pharmaceutical industry in India. Today, the country is the 4th largest manufacturer of pharmaceuticals worldwide.
From a production of mere Rs 180 million of bulk drugs in the 60’s, it has grown to Rs 54.4 billion. This accounts 300 times growth. Formulations have grown almost 140 times from Rs 1500 million to Rs 210 billion and exports from a modest of Rs 30 million to Rs 100 billion.
From a closed, highly controlled environment, the industry has moved towards greater liberlization and is now gearing up to meet the challenges of the WTO regime. India now has the highest number of manufacturing units with about 30 US FDA & 100 TGA/MCA approved facilities plus about 200 WHO GMP approved facilities. A sizeable number of companies have also accelerated their investments in R&D.
The Pharmaceutical industry in India has abundant scientific and technical manpower, thus possessing a strong intellectual capital. It is ideally suited for conducting clinical research in view of its genetic diversity. It has a rich heritage of herbal products too, along with a plethora of APIs, intermediates, chemicals and excipients. No wonder therefore, McKinsey & Company has forecasted a compounded growth of 19 per cent for the Indian Pharmaceutical Industry.
Press Release by: Solus Media
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