In a well calculated move aimed at boosting exports to Japan, the Pharmaceuticals Exports Promotion Council of India (Pharmexcil) in collaboration with the Indian Drug Manufactures Association (IDMA) is closely working with the Osaka Pharmaceutical Manufacturers Association (OPMA). With key focus on strengthening business opportunities with the Japanese companies, Council has proposed OPMA to utilise Indian pharma companies services in four big ways.
The Council is strongly championing for the industry by urging OPMA to come and explore opportunities by either establishing pharma hub in India wherein they can manufacture generic drugs in India to leverage low cost benefit yet world class services or avail the services of the existing US FDA approved facilities for manufacturing their products as contact manufacturers with added option for upgrading the facilities, if required.
Another way the Council has agreed to facilitate business is by arranging business to business (B2B) meetings between Indian and Japanese generic companies to source Japanese generics from top international Indian generic players. Dr P V Appaji, director general of Pharmexcil further informed that eyeing stronger cooperation with Japan, the Council is also mitigating ways to ensure ways in which Japan can avail the best active pharmaceutical ingredients (APIs) from the country, a huge move especially since India enjoys and remains an undisputed leader having the largest number of drug master files (DMFs) registered with the US FDA outside USA.
“Generic market is growing exponentially in Japan, most importantly, with active support of the Japanese government, who is striving their best to provide affordable healthcare to its citizens. All these factors adds up and opens huge possibilities for the Indian companies who wish to leverage the same to boost their business and exports in Japan. We will in all way support and play an important role as facilitator to encourage business between the two countries, a win win situation for both. We are very optimistic about this move and to further bolster our relation we have already arranged a high level meeting between the Indian companies and OPMA delegates in Mumbai during the CPhI India event.”
Apart from deliberating these issues, Pharmexcil will also be finalising the last leg for the India pavilion and the Brand India Pharma Campaign that the Council is planning to orgnise in Japan during upcoming CPhI Japan, jointly with OPMA. Interestingly, the Brand India Pharma Campaign, an initiative of the commerce ministry to promote the interest and high value of Indian manufactured generics was first launched in 2012 in Japan during the then CPhI event. Dr Appaji stressed that considering the current market dynamics and the trends, it is only imperative to strengthen this relation which is mutually beneficial for both the countries.