By 121 News
Chandigarh 03rd September:- ASSOCHAM in association with Department of Pharmaceuticals, Government of India organized a Conference on Generic Medicines in India at Hotel ShivalikView, Chandigarh, which was inaugurated by Prof. K. K. Bhutani, Officiating Director, NIPER. The Opening remarks were given by D. S. Rawat, Secretary General, ASSOCHAM. He extended a warm welcome to everyone present and a hearty thanks to the Department of Pharmaceuticals, GoI, for giving ASSOCHAM the opportunity to host this Conference of great relevance to the current health scenario in India.
Ashok Khanna, Chairman, State Coordination Committee, ASSOCHAM in his welcome address outlined the need for organizing this Conference. He said that the Indian market is predominantly generic in nature with more 20,000 domestic manufacturers of end-use pharmaceuticals, making the industry highly fragmented. He said that the generic drug market is poised for an impressive growth in near future. As per various estimates, the market is anticipated to grow with 16.3% CAGR from 2015-2020.
Shushmul Maheshwari, Founder & CEO RNCOS Business Consultancy Services delivered his "Theme Address" at the occasion. He said that the Indian Pharma market is predominantly a branded generics market, and this segment contributes to around 90% of a total sales, and also represents one of the key strengths of the market, encompassing the OTC segment as well. He said that Generic drugs account for 75% of the domestic pharmaceutical market by value and according to RNCOS, the generic drugs market has grown at a CAGR of 11% from 2009 to 2014.
P K Gupta, Chairman, Belco Pharma, In his address he pointed out various problems faced by the Pharma companies involved in the manufacturing of Generic Medicines. He said that government needs to develop the infrastructure for the growth of industry. He also said the government should provide more benefits to SME so that they can compete with other big MNCs.
Dr. Atul Sachdev, Director Principal, Govt. Medical College & Hospital in his inaugural address he said that over the year India has developed a strong capability in producing generic medicines in almost all the therapeutic categories. These medicines are being sold mostly as branded drugs with high brand promotion and marketing expenditure to push up the retail prices.He said that Indian Pharma industry is growing very rapidly. India will be among the top 5 global pharma market by 2030. He said that the Indian exporters of generic medicines are exporting 40% of all the generic medicines consumed in USA. He said that according to the USFDA the generic drug bioequivalence is between 80-125%, near about 15000 medicines were tested for bioequivalence and only 3.7% found to be defected.
Dr. Manjit Mohi, Director, Medical & Education Research India ranks 4th in pharmaceutical production in the world with a production output of about US$ 31 Billion in 2014. The country has a 1.4% share by value and 10% by volume in the Global Pharma industry. India is one of the leaders in pharmaceutical exports. The country exports drugs worldwide to more than 200 countries. During fiscal year 2013-2014, the country reported US$ 14.8 Billion of drug exports. She also said that It is extremely important in a country like India which has vast population that doesn't have the means and resources to buy expensive drugs to find alternatives for affordable healthcare. She also said that Through Governmental efforts to concentrate on un-branded generic drug prescription by doctors, there can be huge opportunity for generic manufacturers to widen their distribution channels system.
Prof K K Bhutani, Officiating Director, NIPER started his address by thanking ASSOCHAM for organizing this timely conference over this important topic. He talked about the generic medicines and how this medicines are manufactured by pharma companies. He said that Indian API Industries are shifting their business to china, so government should pay attention to API manufacturing units. He talked about the quality of generic drugs, he said that we have to fix certain criteria for the quality production of generics drugs. He said that the government is providing incentives to innovative products.only 10-20 companies are making generics drugs of good quality in India. The future of Generic Medicines in India is not so bright because we are still purchasing APIs from China. The government must pay attention to the API market in order to boost the manufacturing of Generic Medicines in India
No comments:
Post a Comment