The Pharmaceuticals Export Promotion Council of India (Pharmexcil) is leading a delegation to Japan under the aegis of the department of commerce and has organised a host of initiatives on the sidelines of CPhI Japan. Starting with 5th India-Japan Pharmaceutical Seminar in Osaka, Brand India Pharma is expected to strongly pitch its strength at CPhI Japan on 22nd April, at the Big Sight Exhibition Centre in Tokyo.
In total, there are 18 Indian pharmaceutical companies participating at CPhI Japan as part of the Pharmexcil delegation including names like Suven Life Sciences, IndSwift Labs, Jubiliant Life Sciences, Laurus Labs, Aurobindo Pharma, Vimta Labs and Simpex Pharma.
“Japan is one of the most important markets for Pharmexcil. We are working with a three-pronged approach in Japan – to boost API exports from India, promote generics from India and position India as a contract manufacturing destination under direct supervision from Japanese companies,” said Dr P V Appaji, director general, Pharmexcil.
With the total Japanese pharmaceutical market valued at US$ 112.6 billion in 2013, the generic drug sector accounted for 11 per cent at US$ 12.3 billion. The underdeveloped generic drug sector is set to play a greater role in the Japanese pharmaceutical market due to government focus on increasing the use of generics and expiry of a number of blockbuster drug patents. India’s pharmaceutical exports to Japan stood at Rs. 1057.71 crore (US$ 169 million), in 2013-14 registering a growth of 8.5 per cent over 2012-13.
Pharmexcil and India Brand Equity Foundation (IBEF) with the support of the department of commerce has been working on a series of initiatives in Japan to expand the presence of Indian pharma industry. The Brand India Pharma campaign was launched at the opening ceremony of CPhI Japan in 2012. Since the launch, IBEF and Pharmexcil have engaged with all the stakeholders including Japanese media, regulators and associations for a deeper engagement with the Japanese pharma sector. The latest initiatives are expected to further deepen the India-Japan engagement in the pharmaceuticals sector.
Being the second largest pharmaceutical market with one of the largest per capita spending on medicines in the world, Japan has been a focus market for the Indian pharmaceuticals industry. “With a view to emerge as the most reliable partner providing highly quality affordable generic, Brand India Pharma is deepening its engagement with the Japanese market,” added Appaji.