HYDERABAD:The Indian pharma sector will soon be offering its services to Japan — the world’s second largest pharmaceutical market.
Japan is a highly regulated market and entry of Indian companies has been limited so far. For instance, of the Rs 98,000-crore pharmaceutical exports from India last year, Japan accounted for a mere Rs 400 crore. “About 20 companies in Japan have expressed interest. We will hold discussions with them in July,” P V Appaji, Director General, Pharmexcil, said adding that Japanese companies were considering leveraging the FDA-approved contract manufacturing units in India.
According to Pharmexcil, the country’s pharmaceutical market will nearly double from the current $18 billion to $35 billion (including exports) by 2020. Interestingly, one-third of the Indian pharmaceutical market comes from Telangana and Andhra Pradesh. “Both states contribute nearly 33 per cent of the national market,” Appaji said. adding that the Telangana government’s 11,000-acre land allotment for Pharma city was extraordinary.
Health Minister C Laxma Reddy said the government was committed to the overall development of the industry, particularly pharma sector. “It will be our endeavour to see that Telangana’s share of pharma market grows from the current 20 per cent to about 40 per cent in the near future,” he said.
Meanwhile, Pharmexcil along with the Indus Foundation will organise an Indo-Global Pharma Expo and Summit 2015 here from May 23. The four-day event will be attended by over 4,000 business delegates.