‘India Pharma Inc: Gearing up for the Next Level of Growth’
·India growing with a double digit in pharma industry every year
·Gujarat alone exports 50% of Indian medicine
With the huge success of its earlier editions, Confederation of Indian Industry (CII) organized the 10th Pharma Summit 2012, ‘India Pharma Inc: Gearing up for the Next Level of Growth’ Indian pharma industry is on the brink of acquiring global stature by the year 2020. 10th Pharma Summit 2012 delved with the strategies and components the pharma industry can foster for the industry to prosper a notch higher.
Welcoming everyone to the summit Dr. Rajiv Modi, Chairman CII Pharma Summit 2012, Vice Chairman, CII Gujarat State Council and Managing Director Cadila Pharmaceuticals Limited in his inaugural speech said, “The 10th edition of Pharma Summit aims to explore how the industry can gear up for the next level of growth and serve as a platform to discuss strategies and challenges ahead. The Indian Pharmaceutical Industry is poised for an unprecedented growth. In the coming ten years, it expected to touch a staggering US$ 74 billion in Sales. The Summit focuses on the road map for the future; in order to capitalize on the growing potential of emerging markets to take them to newer heights. India is a land of huge opportunities and with the substantial support of the Government, pharma industry aims to flourish in the coming years. The pharma industry has matured over a period by way of developing efficient processes and cost effective manufacturing pattern. Indian pharma industry is perfectly staged for better future and the ecosystem prevalent is perfectly geared up for new innovations. Pharma industry is our pride and the revenue earner, so we need to cherish it’.
Mr. Maheshwar Sahu, Principal Secretary Industries & Mines Department, Government of Gujarat released a report on CII-PwC ‘India Pharma Inc.: Gearing up for Next Level of Growth’, he also threw light on the future prospect of pharma industry by saying, ‘The future landscape of the pharma industry is prominent because with the rise of the middle class segment and the rise for healthcare to substantial quotient. The pharmaceuticals companies offer quality and affordable healthcare inputs with continuous innovation for better products’.
Setting the tone for the summit, Mr. Sujay Shetty, Executive Director- India Pharma Life Sciences Leader PwC, India said, India is the frontrunner for grabbing the top ten positions in coming years. The industry is in its vibrant state and more innovations and incorporation of latest technology are on their way. We need to compartmentalize our positives for achievement of the global market’.
Dr. Steve Arlington, Global Pharma & Life Sciences Advisory Leader, PwC, UK dealt with the subject of Pharma 20-20, from vision to decision.’ Pharma industry is going through a challenging situation for innovation in growth markets and by 2020 the sales for pharma products are expected to reach 1.5 trillion marks. Chronic diseases like Obesity, Cardio Vascular disease, Hypertension, diabetes are still exerting extreme pressure on healthcare sector for prevention and cure using innovations. The focus should be on producing cost effective medicines and by 2020, the BRIC economics alone will account for 33% of the world’s total GDP. The main motto of the pharma industry should now involve the working of R&D, Health economics and Marketing strategies for better prospect. Conjoined efforts of value for money, lifecycle, regulatory acts, skills & resources, access and transparency can confirm new regulatory environment for the pharmaceutical companies’.
The interactive CEO’s roundtable included discussion on core theme of Opportunities & Challenges for the Indian Pharma Inc. & was infused with industry inputs by leaders like Dr Rajiv Modi, Chairman, CII Pharma Summit & Vice – Chairman CII Gujarat Council, Mr Pankaj Patel, CMD, Cadila Healthcare Ltd., Dr H G Koshia, Commissioner, FDCA, Government of Gujarat, Mr Venkat Jasti, Charirman & CEO Suven Life Sciences, Mr Smitesh Shah, CMD, Calyx Chemicals & Pharmaceuticals, Mr Amit Bakshi, Founder Managing Director, Eris Lifesciences Pvt. Ltd., Mr Aiyaz Tobaccowalla, Managing Director Pfizer Ltd., Mr Anthony Farino, Partner – Emerging Markets Leader, PwC, US. It was discussed that the Indian Pharma industry has done an incredible job in making innovation in drugs that treat rare diseases. The present environment is innovation friendly and it is a common thought that Genomics drive the growth of the healthcare sector now. Innovation is synonymous with continuous growth module that includes upgrading the existing drugs, marketing low cost medicines. It was also opined by industry that we should always give boost to the industry that has a future of tremendous growth. Our innovations should be in coordination with process factor, and we need to develop efficient ways for the product development. Innovation is critical and important to advocate the prophecy of growing nature of pharmaceutical industry.
In the swift stride of globalization, Gujarat surfaces as the hub of pharmaceutical industry. It was also discussed that the incorporation of latest vaccine technology will ensure better growth in life sciences at an affordable cost.
Ahmedabad,5 November 2012