The Pharmaceutical Department will hold interaction with the industry captains and pharma associations to assess the real impact of the global economic slowdown and its implications on India in future.

Secretary of pharmaceutical department Ashok Kumar and senior officials will meet the representatives of IPA, IDMA, BDMA, OPPI, SPIC and CIPI. Managing directors or top brasses of pharma majors like Cipla, Cadila Healthcare, Cadila Pharmaceuticals, Dr Reddy's Lab, Emcure, Glenmark, Intas, Lupin, Ranbaxy, Sun Pharma, Torrent, Unichem, Pfizer, GSA and Wockhardt have also been invited for the high-level meeting, scheduled here on November 24.

The meeting will discuss the impact of global recession on Indian pharma industry, performance of exports vis-à-vis last year, issues of import in select countries, capability of producing various bulk drugs, non-tariff measures related to pharmaceuticals and market access to Japanese pharma market to increase Indian presence in the light of CEPA, sources said.

Though the pharma industry is yet to raise the issue of global recession seriously, widespread apprehensions are there about a possible setback at least on the export front in the coming months. The department wants to get a clear look on the picture emerging and views of the industry captains and associations to tide over of the possible crisis by initiating necessary steps, sources said. The senior officials including the Secretary have already held meetings with some industry representatives recently in Hyderabad and are closely monitoring the situation both at the domestic and international levels, sources added.

The industry on the other hand hoped that the impact would not be as severe as in other sectors as medicines are essential commodities. As part of the general recession, there will be marginal impact even in the domestic scenario. Exports will however be more hit under the weight of the global melt-down, observers point out. At the same time, some also argue that India could take advantage of the global situation as Indian generics could prove to be viable options to the consumers in many parts of the world whose declined buying power may not afford high cost drugs from the multinational majors.

Pharma associations disclosed that they were in the process of collecting the views from their respective members to present them to the department as requested. They also hoped that the department would push forward some measures to ease out the impact of the recession on the Indian pharma industry.