With the new IPR regime ensuring protection to new drug molecules in India, the French companies are keen to take up opportunities Indian pharmaceutical business seriously. This is what has emerged from the deliberations of participants at the Indo-French Business Meet 2006 concluded today.

The French pharmaceutical companies were hesitant to have its business deals with India due to the high risk of me-too products sprouting in the market at very low prices shortly after the launch of innovative products, according to the delegates of French industry. The introduction of new patent law has come as a major relief for the pharma companies in France and hopes are that the business relations between the two countries would get a boost.

The Indo-French Business Meet 2006 in Mumbai with a visiting team of 50 French companies, mostly Small and Medium Enterprises, is expected to generate some major deals between pharma companies of both the countries.

Some of the heads of the companies participated in the meet revealed that talks are on with various medium, large scale Indian companies to set up joint ventures, marketing alliances or a possible acquisitions.

"One of the main reason for our presence in this meet is the changed scenario of Indian pharmaceutical sector. Since the new IPR regime has ensured more protection to our products in India, we are now interested in expanding our operations in the country," Jerome Besse, CEO and chairman of Galenix Developpement told Pharmabiz. He said that easy availability of pharmaceutical expertise and cheap labour are major attraction for the French companies in India.

The Laboratoires Embryolisse, a French firm into marketing finished products, affirmed that the company is in search for more business opportunities in India, mainly from SMEs, for niche products in dermatology. "We think that the Indian market has a huge potential and wanted to know how the Indian companies think about the new developments. Our company plans to sing up with at least one distributor and manufacturer in India by the middle of 2007," maintained Alain Cassam-Chenai, President, Laboratoires Embryolisse.

"The French companies were hesitant to deal with India as they found a number of copy-cats for their products in a price 30 percent less than of the original, within months after introduction of a new product. But now the situation has changed and a number of big deals are there in pharma sector between the two countries," informed Shilpa Patil, commercial attache, Consulate General of France and Trade Commission, the affiliate to UBIFRANCE, the French Agency for International Business Development. She added that the endeavour now is to associate the SMEs in both the countries in the growth process. The business meet commenced at New Delhi December 4 2006 has ended December 8.