DEAR FRIEND, 

Chronicle Pharmabiz has just completed its second year of publication on December 21, 2002. The two years have been a struggle for the Pharmabiz team as we strived hard to provide a comprehensive coverage of Indian pharma industry, tried to feel its pulse and honestly attempted to project its problems. We can assure you that we will continue to better this service in the years to come.

We are now trying to expand the reach of Chronicle Pharmabiz to some of the European and South East Asian markets. Our participation in events like Biotech Asia and Asia Pharmaceutical 2002 in Singapore and CPhI Worldwide 2002 in Paris during this year was in pursuit of this goal. Response and appreciation we received from these overseas markets during this year have been overwhelming. We are now specifically targeting to reach out Chronicle Pharmabiz to neighbouring countries like Bangladesh, Pakistan, Nepal and Sri Lanka by sending copies on a regular basis. We are already distributing 500 copies of Chronicle Pharmabiz to a selected number of pharmaceutical firms and government establishments in these countries. You may have received the special issue on Bangladesh pharma industry brought out last month.

This initiative by Chronicle Pharmabiz is in the context of a noticeable change in the perception of Indian pharmaceutical industry in terms of its production and marketing strategies. An export orientation in marketing strategies is on by large pharma companies with over a dozen of them having 50 percent of their turnover coming from exports to regulated and semi regulated markets. Large pharma companies have either obtained US FDA or UK MCA approvals or are in the process of getting the same for their manufacturing facilities. Even at the small scale level, more number of units are complying with GMP. In short, a trend of internationalisation of Indian pharma industry is taking place now. Chronicle Pharmabiz will be taking a close look at this phase of growth of Indian pharma industry now onwards.