Centre invites pharma JVs

Posted AtNewKerala.com

Hyderabad: India is keen to further cooperation with African, South East Asia and Gulf countries in the field of Pharmaceuticals in the wake of challenges posed by the new patent regime, Union Minister of State for Commerce E V K S Elangovan said today.

Declaring open the India-Africa-Asean-GCC Pharma and Health conclave in the city, considered to the pharma capital of the country, he said India offered several advantages to the developing countries like high quality drugs at cost effective prices, a strong base of herbal products and wanted the over 400 international delegates from 13 countries to look into ways and means to further cooperation by setting up joint ventures, transfer of technologies and training of technical personnel.

Showcasing India's strength in the fields of biotechnology, herbals and health care services, he noted with pride that USA and other Developed countries, including the United Kingdom and Austriala had granted largest number of pharma plant approvals to Indian companies.

Observing that India had become important destination for sourcing the generic pharmaceutical products, for drug research and for contract manufacturing, he expressed confidence that India, which transformed itself from an importer to fourth largest in terms of Volume and 13th largest in valube globally manuacturing US Dollar 8.5 billion and exporting drugs worth USD 3.70 billion in 2004-05, would be able to achieve a growth rate of 30 per cent to touch US Dollar 14 billion exports by 2009-10 as projected by the Industry.

December 02, 2005