India eying China for pharma exports
Print Edition
INDIA is committed to promoting its pharmaceutical exports to untapped markets, including China, said Indian companies at a three-day international exhibition of pharma and healthcare which started yesterday.
The exhibition has been organized by the Pharmaceuticals Export Promotion Council of India in which more than 650 delegates from 130 countries and regions are participating.
China has exempted import tariffs for 28 drugs, including all cancer drugs, from May 1, which was seen as a good news for India’s pharmaceutical industry and medicine exports to China, as it would help in reducing trade imbalance between the two countries in the future.
Leading Indian companies participating in yesterday’s event hailed and welcomed China’s move saying it would benefit both sides, as it would address India’s trade imbalance and China would get quality drugs at cheaper prices.
Dinesh Dua, the chief executive officer of Nectar Lifesciences Ltd based in Chandigarh in northern India, said that he expected China, which is the second largest drugs market after the United States, would benefit a lot as Indian drugs prices are excellent.
Indian firms can do excellent business in the future in China, which augurs well for Indian pharmacompanies, he added.
Besides cancer drugs, Dua said, other drugs which India can export to China include “monoclonol antibodies” and also “chemotherapeutic agents” which Indian companies are very successfully making for other countries at a fraction of cost which innovators are making available.
“The multinational companies are making available these generic drugs in China as local generic companies can’t make them. India has proven to the rest of the world, so China will greatly benefit by Indian pricing and quality of drugs coming in at a fraction of cost of the MNCs,” Dua said.
Indian generics take up 20 percent of global exports by volume.
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