Events organised by Consulate General of India, Guangzhou
The Consulate General of India in Guangzhou is celebrating the 14th Pravasi Bharatiya Divas on 9 January 2017.
RBI has released guidelines regarding Extension of deadline for deposit of Demonetized banknotes at RBI ( Mumbai , Chennai, Delhi, Kolkata and Nagpur) for resident Indians abroad till 31 March and NRIs till 30 June 2017.
The Ministry of Tourism has introduced a 24x7 Toll Free Multi-Lingual Tourist Help Line to facilitate visits of foreign tourist visiting India.
International Day of Yoga
The 2nd International Day of India (IDY) in Southern China was celebrated in five cities jointly organized by the Consulate General of India, Guangzhou with the local Municipality governments and other Yoga Institutes.
The annual turnover of the Indian Pharmaceutical Industry reached Rs. 104,944 crores (US$ 20 billion) during the year 2010-11, a 15% year-on-year, with growth in key therapy areas, including anti-diabetics, derma and vitamins outperforming the market. The share of export of drugs, pharmaceuticals and fine chemicals is more than Rs. 47551.26 crore (US$ 8.6 billion). This segment of the pharmaceutical industry has shown tremendous progress in terms of infrastructure development, technology base and wide range of products. By 2020, the Indian pharmaceutical market is expected to touch sales of US$ 74 billion. The size of India’s drug formulation market is about Rs. 58,300 crore (US$ 10.3 billion) and it ranks third in volume and 10th in value globally. The growth in the country is driven by expansion in volumes and new drug introductions. The lifestyle-related disorders are driving the growth at faster pace in chronic segments. Domestic formulation business is likely to maintain healthy volume growth as emerging markets are expected to offer strong growth opportunity. Vaccines are another prominent area of growth. India is one of the largest vaccine producers in the world and exports to about 150 countries. It also meets around 40-70% of the WHO demand for DPT (diphtheria, pertussis or whooping cough and tetanus) and BCG (bacilli calmette-guerin) vaccine against tuberculosis and almost 90% of its demand for the measles vaccine.
The strength of the industry is in developing cost effective technologies in the shortest possible time for drug intermediates and bulk activities without compromising on quality. This is realized through the country’s strengths in organic chemicals’ synthesis and process engineering. The industry has also developed excellent GMP (Good Manufacturing Practices) compliant facilities for the production of different dosage forms. Indian manufacturers are also incorporating lean manufacturing and Six Sigma principles to help them boost operational efficiency and further improve quality while facilitating compliance.
Many Indian companies maintain high standards in purity, stability and international safety, health and environmental protection in production and supply of bulk drugs. This speaks of the high quality standards maintained by a large number of Indian Pharma companies as these bulk actives are used by the buyer companies in the manufacture of dosage forms which are again subjected to stringent assessment by various regulatory authorities in the importing countries. More than 170 Indian pharmaceutical companies have got international regulatory approvals for their plants, from agencies like USFDA, MHRA-UK, TGA-Australia, MCC-South Africa etc. Outside USA India is the only country having the highest number of USFDA approved plants for generic drugs’ manufacture outside USA.
India’s pharmaceutical sector is gaining a global leadership position and Indian generics today constitute nearly a fifth of global supplies. The share of Indian pharmaceutical companies in the total pie of approvals for generic drugs (called abbreviated new drug applications (ANDA) approvals in the United States) has risen steadily. In 2011, more than one-third of the ANDA approvals were by Indian firms. As a consequence, formulation exports from India, essentially generic drugs, have grown at 21% compounded annual growth rate (CAGR) between 2005-06 and 2010-11. Indian drug-makers are looking to building relationships with global pharma companies for joint research and development and widening distribution networks through marketing alliances. Other potential thrust areas include bio-pharmaceuticals, contract research and manufacturing, and new drug research.
India has every chance to capitalize the opportunity to become a pharmaceutical superpower by 2020 and a hub for all pharmaceutical manufacturing and research needs. India has a vast pool of trained pharmaceutical scientists, doctors and researchers, which opens up avenues for joint collaborative research for new drug discoveries along with joint intellectual property rights. The low cost of manufacturing renders India as an attractive destination for contract research, and the availability of a large patient pool makes it appealing for clinical trials, which contributes the most, in terms of revenue, to the contract research and manufacturing (CRAM) segment. An increased presence in contract research is also helping some of India’s leading pharmaceutical companies to build expertise and move up the value chain and engage in new drug development. Indian companies today are aggressively improving their manufacturing to be better positioned to take advantage of the upsurge in generics production as patents expire in the next five years. With about US$ 150 billion worth of drugs set to lose patent exclusivity between 2010 and 2015, it is estimated that exports will grow at 14-16% CAGR over the next five years.
Patent expiries and weak drug pipeline quality are also forcing innovator MNC companies to explore opportunities in emerging markets. In India, MNC companies are targeting growth opportunities through licensing deals with generic players both for the Indian domestic market as well other markets. Such alliances primarily aim at leveraging on the lower R&D cost (i.e. product/market authorizations) and manufacturing capabilities of the local Indian generic companies and the extensive product portfolio and marketing and distribution footprint of the MNCs in third markets. Examples of such alliances include: Lupin with Eli Lilly, Cadila with Bayer and Sun Pharma with Merck.
The US$ 1.4 billion Indian bio-pharmaceutical industry is in its emerging stage. Growth drivers include education and increased awareness of disease prevention, increase in disposable income and government participation in immunization programs. With the looming patent expiry of many bio-pharmaceutical products globally, Indian firms will look to build capabilities to capitalize on the opportunity that will arise. In the area of drug discovery, Indian companies such as Piramal Life Sciences, Glenmark and Sun Pharma are engaged in new drug research. At present, there are only 70-80 molecules in the pipeline from Indian players, of which more than two-thirds are still in early clinical phases. Amid slower growth in the generics space, large Indian players will look to enhance their focus in this area. The high-risk high-return field of new drug research holds tremendous potential for Indian players.
India offers a variety of tax concessions to the pharmaceutical sector, including tax holidays for industrial operations in free trade zones; deduction of profits earned from exports; liberal depreciation allowances; deduction of capital R&D expenditure; and relief on all contributions to approved domestic research institutions.
FDI in manufacture of drugs and pharmaceuticals including those involving use of recombinant DNA technology is freely permitted up to 100% under the automatic route.
The Budget for 2012-13 for the pharmaceutical industry announced the extension of the 200% weighted deduction for research & development (R&D) expenditure in an in-house facility beyond March 31, 2012, for a further period of five years and full exemption from excise / countervailing duty on 6 specified life-saving drugs which are used for the treatment of HIV-AIDS and renal cancer.
Ministry of Health and Family Welfare: http://www.mohfw.nic.in
Department of Pharmaceuticals: http://pharmaceuticals.gov.in/
Central Drugs Standard Control Organization: http://www.cdsco.nic.in/
Pharmaceutical Export Promotion Council of India: http://pharmexcil.org/index.php
Indian Drug Manufacturers Association (IDMA): http://www.idma-assn.org/