More than 20 top league Latin American companies including the US$ 1200 million generic major c are in look out for pharmaceutical technology, product sourcing and strategic research and marketing collaborations from India. The five day 2nd Indo-Latin American Pharma Meet organized by the Confederation of Indian Industry (CII) at Mumbai began on 19, May, saw most of these companies keenly interested in having trade and technical ties with Indian pharmaceutical industry as the country seems to have gained the reputation of strong supplier of bulk drugs, drug intermediates and formulations including generic formulations.
Welcoming the guests to the Meet, Madhur Bajaj, chairman CII Latin America Committee, said that as an out come of this overwhelmed participation from both the buyers and sellers side, the Indian Pharma exporters may note that the markets of top 7 countries of Latin-America are expected to expand by 50 per cent from $20 bn in 2000 to $29 bn in 2005.
Latin America, which has emerged as one of the fastest growing regions of the world with many countries within the region, is recording substantial growth in GDP during the recent past. The trade between India and Latin America during last few years has been growing rapidly. It has increased from US$ 473.66 million in 1991 America –92 to US$ 2445.44 million in 2001–02, registering an increase of more than 516 per cent.
Mostly, the trade between Latin America and India indicates Drugs & Pharmaceuticals as one of the major items of exports form India. Pharma exports to Latin America have increased from US$ 38 million in the year 2000-01 to US$ 91.31 million in the year 2001-02 showing an impressive growth of 158 per cent.
According to Bajaj, it is against this backup CII had organized the 1st “Indo-Latin American Pharma Meet” which was held in Mumbai and Hyderabad in March, 2002 wherein there was participation of a large number of buyers from many Latin American countries. This meet helped many Indian companies in this sector to make their first inroads into the Latin American markets.
He added that following the successful organisation of the 1st Indo – Latin American Pharma Meet CII, in close consultation with the Ministry of Commerce, the Indian Embassies in Latin America and CII's own networks and partnerships in Latin America. The 2nd Indo-Latin American Pharma Meet is being organized in Mumbai and Hyderabad this time from 19th May to 23rd May.
The objectives of the programme are to enable Drugs & Pharma manufacturers of India to establish first hand contacts with buyers from six Latin American countries such as Chile, Colombia, Mexico, Paraguay, Ureuguay and Venezula without incurring the cost of travelling to all these countries.
Obtaining in depth information on the export potential, procedures, regulatory and registration requirement for exporting Drugs & Pharma products in the major Latin American markets.
These programmes will therefore provide a platform for bringing together senior representatives from major players in Drugs & Pharma Industry on both sides and hopes to be harbinger of establishing long-term relations in the sector between India and the Latin American Region.
The Latin American delegates who would visit various companies in the country located at Mumbai and Hyderabad summed up their requirements as Indian formulations non-registrable for Argentina, attractive API and generics for Brazil etc.
The country representatives elaborated that in 2002, Latin America had sales of approximately $16 billion, which is nearly 4.5 per cent of the worldwide pharmaceutical markets. The major therapeutic categories required and the marketed in the countries are Alimentary Tract & Metabolism, Systemic Anti-Infectives, Cardiovascular System, Central Nervous System, Respiratory System, GU System & Sex Hormones, Musculo-Skeletal System, Blood & Blood-Forming Organs, Antineoplastic and immunomodulators.