The Pharmaceutical Export Promotion Council (Pharmexcil), an autonomous trade promotion body under the aegis of the Ministry of Commerce and Industry, Government of India, will lead a delegation of six major Indian companies to South Korea as part of its effort to explore the export potential in the backdrop of the recently accorded partnership agreement between the two countries.
The Hyderabad-based Aurobindo Pharma, Mumbai-based Lupin Ltd and Calyx Chemicals and Ahmedabad-based Torrent Pharma and Claris LifeSciences are among the Indian firms sending their delegation to meet their South Korean counterparts, importers and regulatory officials, according to sources from Pharmexcil. The promotional event will be held at Seoul on March 23, 2010.
The programme is charted as part of the Indian pharma promotion project of the Embassy of India, Seoul, South Korea. A bilateral Comprehensive Economic Partnership Agreement (CEPA) was signed between India and Republic of Korea with effect from January 01, 2010, and leading the Indian companies in delegation will help to optimise the bilateral business activities in pharmaceutical sector, with emphasis on generic formulations exports.
“Indian companies have substantial presence in bulk drug exports to South Korea, but the exports of generic formulation is comparatively miniscule. Our aim is to promote exports of generics to South Korea for mutual benefits,” said Dr P V Appaji, executive director, Pharmexcil.
Representatives from Korean Pharma industry, officials from the Regulatory Authorities and Korean Pharmaceutical Manufacturers Association would attend the event even as the salient feature of the programme is participation of The Korean Chamber of Commerce and Industry and the Korean Importers Association, whose mandate is to promote import from right sources into Korea, he added.