Commerce department sets up consultative panel to push pharma exports.

Department of Commerce has constituted a Consultative Group to institutionalize a standard mechanism for consultation between Government and industry to improve India's share in international pharma exports.

Besides industry representatives, secretaries of the key ministries are members in this consultative group. The terms of reference of the group is to advise the government to develop India's brand image as a source of affordable, safe and quality medicines.

The panel will also advise on ways to secure larger share of global pharmaceutical market for India, develop quality infrastructure to improve long term sustainability for exports in India, and strengthen innovations, particularly in all aspects of generic pharma in India. The high-level committee will also explore options to improve investments in pharma sector for exports and develop new approach for production, exports and sharing services.

The union commerce ministry has asked the pharma industry to send in their representation to the government at the earliest, highlighting the key issues and challenges faced by them during the exports of the pharmaceutical products.

The government will be analysing all this data collected from the industry to chart out a strategy to achieve their goal of reaching the mark of $25 billion pharma exports by March 2014.

"The Indian pharma market has registered a CAGR of 15 per cent over the past five years and it is a matter of pride that over 70 per cent of patients in 87 countries get ARVs from India. As the generic segment gains more traction, there is more competition and at the same makes it a low-margin business.

There is a need to develop competencies that will drive the growth of the Indian pharma market beyond 2013," according to the Commerce Ministry.

Source : pharmabiz.com