PRLog - Sep. 27, 2011 - Hyderabad: The three-day India – Latin America and the Caribbean (LAC) Pharma Business Meet being organized by Pharmaceuticals Export Promotion Council (Pharmexcil)
The Union Minister for Commerce and Industry Mr. Anand Sharma and Chief Minister Mr. N Kiran Kumar Reddy take part in the event on the concluding day on September 30. Senior Government of India officials including secretaries, Drug Controller General of India will also participate in the event. The participating countries are Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Jamaica, Mexico, Nicaragua, Peru, Trinidad and Tobago and Venezuela. The meet will be attended by FDA, drug registration, ministry of health officials from 14 LAC countries, prominent buyers, importers and Indian exporters.
“The objective of the meet is to provide opportunities to the Indian pharma exporters particularly the SME sector to meet more than 80 prominent buyers, drug regulatory officials and government procurement agencies of the LAC countries. About 500 Indian delegates are expected to attend. The event will also serve to highlight India’s strengths to supply quality generic medicines at affordable prices besides exploring opportunities for investments in India and LAC countries,” said Dr. P. V. Appaji, Executive Director, Pharmexcil.
Total imports of drugs and pharmaceuticals of Latin American region is about USD 19,626 million of which India’s share is 2.2% with about USD 433 million of exports in 2009. On the other hand, pharmaceutical exports of India during FY 2010-11 were to the tune of USD 10.40 billion. Major products exported include APIs, pharmaceutical formulations, biotech products, veterinary drugs, medical devices etc to about 230 countries, added Dr. Appaji.
“During the meet, Pharmexcil is also organizing a CEO Conclave to discuss / strengthen the strategy paper announced by Ministry of Commerce and Industry to double the pharma exports. The CEO Conclave will comprise of eminent leaders from the industry as well as senior Government officials with a view to find common ground,” said Mr. Smitesh Shah, Chairman, Pharmexcil.
The meet will be marked by presentations on drug regulatory systems by concerned officials of various LAC countries and plant visits for these LAC authorities / officials. The Indian government agencies will showcase the country’s strength in R and D, quality control, process development, manufacturing, local laws, regulation and drug registration procedures. Likewise, drug registration authorities of LAC countries will also lay thread bare their registration processes. A prominent feature of the meet will be the one-to-one business meetings over the course of the three days. During the course of the event ‘Outstanding Export Performance Awards’ and ‘Awards for Securing Patents’ will also be given away to the winning Indian pharmaceutical companies.