Known the world over for being a country having largest number of medicines in development per capita, largest number of clinical trials per capita and ranking second for pharmaceutical exports per capita in Europe, the Belgian and Indian delegates deliberated on Belgium as an ideal location for the pharmaceutical market for India and European Union.
Over 300 decision makers from Belgium and captains of the Indian Pharma industry participated in the Seminar under the theme Belgium as a Business Hub for the Pharmaceutical Market in Europe on 27th November, 2013 in Mumbai organised by AWEX, the Walloon Agency for Export and Foreign Investments, in collaboration with Indian Drug Manufacturers Association.
Besides being centrally located with access to markets in Europe, Africa, the US and Asia, Belgium has a unique advantage considering the fact that generic industry is growing and there is a demand for medicines in the European markets from India. Said Ajit Shetty, Chairman Emeritus at Janssen Pharmaceutica, "In addition to this, Belgium will prove to be a good R & D hub with centres like Dr Paul Janssen Research Centre and Drug Safety Evaluation Centre. Other motivating factor to do business in Belgium is the fact that it has a cost effective tax regime."
"Belgium combines the best of both the worlds with scientific and technical expertise on one hand and favourable business climate in the form of tax incentives," he added.
The need for investments in Belgium has become imperative because there is an increasing trend in contract manufacturing from 17 per cent in 2010 which will touch 26 per cent in 2016.
Vijay K Dhingra, Senior Director at Deloitte said, "A number of pharmaceutical companies, such as Pfizer, Janssen Pharmaceutica, GSK, Baxter and UCB have invested in research and production facilities in Belgium. The Belgian government has implemented a number of incentives for businesses with operations in Belgium. These range from investment incentives through attractive tax-related schemes on to employment, training and R&D advantages."
Belgium’s export and imports account for more than 70 per cent of GDP. It is the 8th largest exporter of goods worldwide and the 13th largest exporter of services in the world. Belgium’s biopharmaceutical sector has a leading position in Europe and among OECD-countries. Belgium with its 200 biotech and pharmaceutical companies is a bio-pharmaceutical concentration zone which is as dense as that of Boston. In the south of Brussels, the worldwide consumption of drugs amounts to 30%. Also, 30% of the drugs prescribed by the doctors in Belgium are generic medicines.
A study on the origins of the patents on drugs that have been licensed on the American market in the past decade indicates a remarkable contribution from the researchers from Belgian laboratories with 26 patents with the country ranking 8th worldwide.
Belgium offers operational excellence, which is based on strong technical expertise. The amount that is spent on R&D in the sector is €1.8 billion each year and investment in infrastructure in this country reinforces the strong establishment of the sector in Belgium.