INSUBCONTINENT EXCLUSIVE:
China recently exempted import tariffs (duties) for 28 drugs, including all cancer drugs.
India is the largest provider of generic drugs globally with the Indian generics accounting
for 20 per cent of global exports in terms of volume, according to pharma industry experts
The country is more focused on quality of drugs and medicines
Government is also working in the same context and can be seen centering more on policy making
of pharma industry in India is decent
However, there are ongoing changes in policy which can lead to confusion in business
"Government keeps on changing guidelines which may obscure manufacturers but it's a good sign also as we are moving towards better side of
If we look at wider perspective, the world can be divided into three kinds of countries - highly regulated, semi-regulated and non-regulated
Indian pharma industry gained prominence since 1970s but manufacturers were not bothered about standards that time
The scenario was diverse, anybody came up to establish plants and manufacture them
48 years have passed now and currently the country is concentrating more on regulation of drugs.Government policies and pharma industryThe
standard of manufacturing facilities should always be retained
Gupta, there are many encounters which the pharma industry often faces
In this pursuit, there may be conciliations with standard of drugs
However, the government is now working more on standards."Pharmaceutical industry is not a commodity
We should be focused more on standard and quality of the product
This is what the government is doing now
Government is more engrossed on policy making
They are taking resilient decisions for the concern of pharma industry
There may be ifs and buts but government is looking forward to work on criterion more which is a good symbol", added Mr
Gupta."There are mammoth opportunities in India
India is a good exporter of generic business and we have also taken a big jump recently
There are many people in small towns and villages who are not getting proper medicines
Government is trying to disentangle the concerns of these locations", he further said.Threats to pharma industryAccording to pharma industry
experts, standard of the drugs is the only concern for the market
There are no basic threats to pharma industry in India
70 per cent of pharma market is generic, 9 per cent is oriented and rest 21 per cent is over-the-counter (OTC) which is acceptable.India's
healthcare budget is less
The country spends only a small part of GDP (Gross Domestic Product) on healthcare while in other countries 4-5 per cent of GDP is outlaid
There are no threats as India is working systematically.Future concerns of pharma industryIndia should become part of PIS (Pharmacy
Administration) are part of PIS which ensures that all manufacturing is part of the system as well
Small countries like Vietnam and Uzbekistan which don't even have 5 factories want to become part of PIS now
India is also not the part of this society
India is doing a generic business and we are contributing to around 20 per cent medicines of world
This means every fifth tablet created in India is used worldwide
In this scenario, it is important that we become part of the PIS
We are part of WHO (World Health Organization) reality but it is not essential for all the industry
PIS is more important for us
I am sure in future we will become part of the system", said Mr
Gupta.China recently exempted import tariffs (duties) for 28 drugs, including all cancer drugs, from May 1, 2018
This may impact Indian pharma sector too
Gupta, "The impact may not be immediate as people are not keen to go to China
There is language barrier and recession process is tough
