Indian API Exports to More Than Double by 2013-14.

The market-size for the Active Pharmaceutical Ingredients (APIs) is expanding rapidly and India in all likelihood may double its exports within a couple of years, opined Mr Prasad Mangipudi, Vice President, API Global, Aurobindo Pharma at the ongoing CPhI India Conference Series 2010.

While speaking at the South Asia’s largest three-day pharmaceutical event organised by United Business Media (UBM) at Mumbai on Wednesday, Mr Mangipudi said, “The markets for API are one of the most rapidly developing among the pharmaceutical industry. Currently, the API market in India stand at USD 10-12 billion out of which, exports account for about USD 5 billion. On the other hand, world API market stands at USD 35 billion. By 2013-14 the Indian API market will be about USD 18 billion and the world market would be USD 53 billion. At the same time, Indian exports would have been increased up to USD 12 billion which is more than double the current size.

Indian API exports to more than double by 2013-14

He added, “However, currently China is the main competitor of India. China has positioned itself as a low cost manufacturing destination and India needs to gear up to catch up with China. India can position itself as the ‘value solution providers’ as understanding the customer need is very important in tapping API market.”

Mr Praveen Khullar, Senior Director, Development Centre, Sanofi Aventis Group while speaking the conference said that the global pharmaceutical market currently stands at USD 842 billion. “The Research & Development activities in super generics cost up to 10%. However, there may be decline or stagnation on heavy investments in the R&D. The reason behind this is, there is no block buster invention in last few years.  The competition in normal generics is increasing.” Moreover, he said that Japan is rising as a crucial market for the super generics.

An all-time high record number of visitors was witnessed on the first day of the three-day CPhI India, P-MEC, BioPh and ICSE events of UBM India in partnership with Pharmaceuticals Export Promotion Council (Pharmexcil), started from Wednesday at the Bombay Exhibition Centre in Mumbai.

Source : moneycontrol.com