Apex pharma trade body to open warehouses abroad.

MUMBAI: In a move to encourage export business of small and medium pharma companies, Pharmaceuticals Export Promotion Council of India (Pharmexcil) plans to set up warehouse facilities in Latin America, Africa and Europe.

The facilities will be opened under the 'Brand India Pharma' campaign.

"As part of initiatives to encourage exports by small and medium-sized pharma companies, we are setting up our first warehouse facility in Nigeria and looking to set up more such warehouses in Latin America and Europe," Pharmexcil Director General P V Appaji told PTI here.

The planned warehouse is expected to help small and medium drugmakers to store their products at the facility and supply them to local distributors when the requirement comes.

The Nigerian warehouse facility will be ready in two months and it will help pharma companies launch their branded products, Appaji said, adding the first overseas warehouse will give 75 per cent, 50 per cent and 33 per cent subsidies for three years, respectively, to the user-companies.

Meanwhile, the Pharmexcil chief said domestic pharma industry is aiming at an export target of USD 25 billion by 2014-15. "Indian pharma export is currently at USD 13.4 billion and we expect it to reach USD 25 billion by 2014-15."

As part of measures to achieve the target, Pharmexcil is organising a three-day exhibition, iPHEX 2013, between April 24-26 in Mumbai, Appaji said.

Over 40 drug regulators from 20 countries like Ghana, Tanzania, Senegal, Taiwan, Vietnam and Philippines will be visiting the exhibition.

Pharmexcil member Bhavin Mehta said: "We have invited a large number of drug regulators from overseas market, which will immensely help local pharma companies to promote the quality and affordability aspect as envisaged in 'Brand India Pharma' campaign. The campaign has been initiated by Ministry of Commerce and executed by Pharmexcil."


Source : economictimes.indiatimes.com