Pharmexcil, the long-awaited exclusive export promotion council for drugs and pharmaceuticals has come into existence on May 12 with the formal issue of a notification in this regard by the Union commerce ministry.

As the Director General of Foreign Trade (DGFT) issued the notification recognizing the formation of the Pharmaceutical Export Promotion Council (Pharmexcil), the pharmaceutical industry and related services have been advised to obtain the Registration-cum-Membership Certificate (RCMC) from the new Council.

As per the DGFT notice, the functional areas of the Pharmaceutical Export Promotion Council have also been incorporated with a wider business perspective compared to the limited scope of the existing pharma panel attached to the Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council (Chemexcil).

As per the new amendments in the Paragraph 2.4 of the Export Import Policy 2002-2007, which provides the addition of the new Council into list of EPCs in the country, Pharmexcil would deal with not only drugs and pharmaceutical product exports but also other pharma industry related services, collaborative research, contract manufacturing, clinical trials and consultancy services.

Talking to Pharmabiz soon after the DGFT notification, DB Mody, the first chairman of Pharmexcil, said that the official functioning of the Council would start in few days as the membership acceptance is already on. "We are all set to start the services as promised to the pharmaceutical industry. The head office and the registered office located in Hyderabad and Mumbai respectively has already started functioning," he said.