The Union minister of Chemicals and Fertilizers and Steel, Ram Vilas Paswan has invited Japanese companies to collaborate with India in research and contract manufacturing of generic medicines. He was speaking to the representatives of Japan Pharmaceutical Manufacturers' Association in Tokyo on July 10, 2006. The Japanese delegation showed keen interest in the Indian pharmaceutical sector, particularly in contract manufacturing, collaborative research and marketing of their drugs in India. They also wanted to visit some of the research facilities in India in the Government and private sector.
Paswan emphasized on the growing importance of the Indian pharma industry in the world arena and the opportunities the country offered to the Japanese pharma sector. He said India is capable of producing bulk drugs, and has developed clinical research, cost-effective technology and new drug delivery system. Earlier in the day Paswan and his delegation met the president of Eisai Corporation of Japan and visited its research and development facilities in Tsukuba Science City, 60 km. from Tokyo. It is one of the largest pharma companies in Japan with an annual turnover of about 6 billion US$. The company has identified India as its main focus area in its global operations. It has decided to set up its manufacturing facilities in Visakhapatnam in Andhra Pradesh.
Japan is the second largest pharma market in the world after the USA with a value of 60 billion US$. The Indian pharma industry is exploring the Japanese market which is dominated by branded medicines. But it is expensive for the local people. If opened up, the generic segment in Japan offers good opportunities to the Indian pharmaceutical sector.